Krane Funds Advisors LLC Sells 18,966 Shares of Tesla, Inc. (NASDAQ:TSLA)

Krane Funds Advisors LLC lowered its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 84.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,489 shares of the electric vehicle producer’s stock after selling 18,966 shares during the period. Tesla accounts for about 0.8% of Krane Funds Advisors LLC’s investment portfolio, making the stock its 15th biggest holding. Krane Funds Advisors LLC’s holdings in Tesla were worth $913,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Bank & Trust Co bought a new stake in Tesla during the second quarter valued at about $25,000. Valley Wealth Managers Inc. bought a new position in Tesla in the second quarter worth about $26,000. Abich Financial Wealth Management LLC lifted its position in shares of Tesla by 168.8% during the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock valued at $26,000 after buying an additional 81 shares during the last quarter. Clean Yield Group boosted its holdings in shares of Tesla by 60.0% in the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after buying an additional 48 shares in the last quarter. Finally, M&R Capital Management Inc. raised its stake in shares of Tesla by 263.2% during the 3rd quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock worth $36,000 after acquiring an additional 100 shares in the last quarter. Institutional investors own 66.20% of the company’s stock.

Tesla Stock Down 0.2 %

Shares of NASDAQ TSLA opened at $220.89 on Friday. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $271.00. The company has a quick ratio of 1.40, a current ratio of 1.91 and a debt-to-equity ratio of 0.08. The company’s 50-day simple moving average is $227.25 and its 200-day simple moving average is $204.80. The firm has a market cap of $705.66 billion, a price-to-earnings ratio of 62.05, a price-to-earnings-growth ratio of 5.94 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Tuesday, July 23rd. The electric vehicle producer reported $0.52 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.10). The firm had revenue of $25.50 billion for the quarter, compared to analysts’ expectations of $24.38 billion. Tesla had a return on equity of 10.41% and a net margin of 13.00%. Tesla’s quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.78 earnings per share. Equities analysts predict that Tesla, Inc. will post 1.75 EPS for the current fiscal year.

Analyst Ratings Changes

TSLA has been the subject of several recent analyst reports. KGI Securities restated a “neutral” rating and issued a $236.00 target price on shares of Tesla in a research note on Thursday, July 25th. The Goldman Sachs Group reissued a “neutral” rating and issued a $230.00 price objective on shares of Tesla in a research report on Friday, October 11th. China Renaissance raised Tesla from a “hold” rating to a “buy” rating and set a $290.00 target price on the stock in a research report on Friday, July 5th. Canaccord Genuity Group reissued a “buy” rating and issued a $254.00 price target on shares of Tesla in a report on Friday, September 13th. Finally, Robert W. Baird restated an “outperform” rating and set a $280.00 price objective on shares of Tesla in a report on Tuesday, August 20th. Nine investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, Tesla currently has an average rating of “Hold” and a consensus target price of $210.72.

Insider Buying and Selling at Tesla

In other news, CFO Vaibhav Taneja sold 8,000 shares of the stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $250.00, for a total value of $2,000,000.00. Following the completion of the sale, the chief financial officer now directly owns 105,032 shares in the company, valued at $26,258,000. 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 available at this link. In related news, CFO Vaibhav Taneja sold 8,000 shares of the company’s stock in a transaction dated Monday, September 23rd. The shares were 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 approximately $26,258,000. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Xiaotong Zhu sold 297 shares of the firm’s 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 in the company, valued at $14,967,479.07. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 74,661 shares of company stock worth $16,663,291. Corporate insiders own 20.70% of the company’s stock.

About Tesla

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.