Patrick M Sweeney & Associates Inc. Sells 90 Shares of Tesla, Inc. (NASDAQ:TSLA)

Patrick M Sweeney & Associates Inc. lowered its stake in Tesla, Inc. (NASDAQ:TSLA) by 4.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,836 shares of the electric vehicle producer’s stock after selling 90 shares during the period. Patrick M Sweeney & Associates Inc.’s holdings in Tesla were worth $480,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in Tesla by 60.2% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 549,008 shares of the electric vehicle producer’s stock worth $108,638,000 after buying an additional 206,248 shares in the last quarter. Morse Asset Management Inc lifted its stake in shares of Tesla by 138.1% in the 2nd quarter. Morse Asset Management Inc now owns 5,969 shares of the electric vehicle producer’s stock valued at $1,181,000 after purchasing an additional 3,462 shares during the period. NewEdge Advisors LLC grew its stake in Tesla by 12.9% in the second quarter. NewEdge Advisors LLC now owns 236,802 shares of the electric vehicle producer’s stock worth $46,858,000 after purchasing an additional 27,130 shares during the period. Entropy Technologies LP bought a new position in Tesla in the first quarter worth $1,941,000. Finally, Future Financial Wealth Managment LLC purchased a new position in Tesla during the first quarter valued at $79,000. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Stock Performance

NASDAQ:TSLA opened at $213.65 on Thursday. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $271.00. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.40 and a current ratio of 1.91. The firm has a market capitalization of $682.53 billion, a PE ratio of 60.01, a P/E/G ratio of 6.24 and a beta of 2.29. The stock has a 50-day simple moving average of $228.54 and a two-hundred day simple moving average of $206.41.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). Tesla had a net margin of 13.00% and a return on equity of 10.41%. The business had revenue of $25.50 billion for the quarter, compared to the consensus estimate of $24.38 billion. During the same period in the prior year, the business earned $0.78 earnings per share. Tesla’s revenue was up 2.3% compared to the same quarter last year. Analysts forecast that Tesla, Inc. will post 1.75 EPS for the current year.

Analysts Set New Price Targets

TSLA has been the topic of a number of recent research reports. Wells Fargo & Company reaffirmed an “underweight” rating and issued a $120.00 target price on shares of Tesla in a research report on Monday, July 1st. HSBC reaffirmed a “reduce” rating and set a $124.00 target price on shares of Tesla in a research note on Friday, October 11th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $295.00 price target on shares of Tesla in a research report on Tuesday, September 10th. Mizuho raised their price objective on Tesla from $180.00 to $230.00 and gave the company a “neutral” rating in a research report on Friday, July 12th. Finally, China Renaissance raised Tesla from a “hold” rating to a “buy” rating and set a $290.00 target price on the stock in a report on Friday, July 5th. Eight equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $211.63.

Insider Transactions at Tesla

In related news, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $221.77, for a total transaction of $65,865.69. Following the completion of the transaction, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other 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 transaction, the chief financial officer now owns 105,032 shares of the company’s stock, valued at approximately $26,258,000. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction 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 completion of the sale, the senior vice president now owns 67,491 shares in the company, valued at approximately $14,967,479.07. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 20.70% of the company’s stock.

Tesla 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.