Roman Butler Fullerton & Co. Lowers Stake in Tesla, Inc. (NASDAQ:TSLA)

Roman Butler Fullerton & Co. cut its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 5.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,547 shares of the electric vehicle producer’s stock after selling 86 shares during the quarter. Roman Butler Fullerton & Co.’s holdings in Tesla were worth $405,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of TSLA. Donaldson Capital Management LLC acquired a new stake in shares of Tesla in the third quarter worth approximately $233,000. Robeco Institutional Asset Management B.V. boosted its position in shares of Tesla by 12.9% in the third quarter. Robeco Institutional Asset Management B.V. now owns 817,309 shares of the electric vehicle producer’s stock worth $213,833,000 after acquiring an additional 93,389 shares during the last quarter. Blue Square Asset Management LLC boosted its position in shares of Tesla by 9.0% in the third quarter. Blue Square Asset Management LLC now owns 28,527 shares of the electric vehicle producer’s stock worth $7,464,000 after acquiring an additional 2,350 shares during the last quarter. Lansing Street Advisors boosted its position in shares of Tesla by 4.0% in the third quarter. Lansing Street Advisors now owns 1,852 shares of the electric vehicle producer’s stock worth $485,000 after acquiring an additional 72 shares during the last quarter. Finally, TrueWealth Advisors LLC boosted its position in shares of Tesla by 7.4% in the third quarter. TrueWealth Advisors LLC now owns 4,926 shares of the electric vehicle producer’s stock worth $1,289,000 after acquiring an additional 338 shares during the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Tesla Stock Performance

TSLA stock opened at $248.98 on Monday. The company has a market capitalization of $799.24 billion, a P/E ratio of 68.21, a PEG ratio of 8.24 and a beta of 2.29. The company has a 50-day simple moving average of $234.14 and a 200 day simple moving average of $211.15. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $273.54. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The company had revenue of $25.18 billion during the quarter, compared to the consensus estimate of $25.47 billion. During the same period in the prior year, the company earned $0.53 EPS. Tesla’s revenue was up 7.8% on a year-over-year basis. Sell-side analysts predict that Tesla, Inc. will post 1.96 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Tesla news, CFO Vaibhav Taneja sold 8,000 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the completion of the sale, the chief financial officer now owns 105,032 shares of the company’s stock, valued at $26,258,000. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the sale, the senior vice president now owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Vaibhav Taneja sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $250.00, for a total value of $2,000,000.00. Following the transaction, the chief financial officer now directly owns 105,032 shares in the company, valued at $26,258,000. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 12,297 shares of company stock worth $3,065,866. Company insiders own 20.70% of the company’s stock.

Wall Street Analyst Weigh In

TSLA has been the topic of several research analyst reports. Piper Sandler raised their target price on shares of Tesla from $310.00 to $315.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Citigroup reduced their price target on shares of Tesla from $274.00 to $258.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 24th. KGI Securities raised shares of Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 target price on the stock in a research report on Thursday, October 24th. Canaccord Genuity Group boosted their target price on shares of Tesla from $254.00 to $278.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Finally, Roth Mkm reissued a “neutral” rating and set a $85.00 target price on shares of Tesla in a research report on Friday, October 11th. Eight investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Tesla currently has an average rating of “Hold” and an average price target of $219.45.

Tesla Company Profile

Tesla, Inc designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers electric vehicles, as well as sells automotive regulatory credits; and non-warranty after-sales vehicle, used vehicles, body shop and parts, supercharging, retail merchandise, and vehicle insurance services.