Tesla, Inc. (NASDAQ:TSLA) Position Cut by Global Strategic Investment Solutions LLC

Global Strategic Investment Solutions LLC lowered its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 4.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 1,786 shares of the electric vehicle producer’s stock after selling 79 shares during the period. Global Strategic Investment Solutions LLC’s holdings in Tesla were worth $467,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of TSLA. JB Capital LLC grew its position in Tesla by 12.1% in the 3rd quarter. JB Capital LLC now owns 5,368 shares of the electric vehicle producer’s stock worth $1,404,000 after purchasing an additional 581 shares during the last quarter. Washington Trust Bank bought a new position in Tesla in the 3rd quarter worth approximately $227,000. Deseret Mutual Benefit Administrators increased its position in Tesla by 18.1% in the 3rd quarter. Deseret Mutual Benefit Administrators now owns 554 shares of the electric vehicle producer’s stock valued at $145,000 after acquiring an additional 85 shares during the period. Principal Financial Group Inc. raised its stake in Tesla by 5.6% during the 3rd quarter. Principal Financial Group Inc. now owns 3,650,393 shares of the electric vehicle producer’s stock valued at $955,052,000 after acquiring an additional 194,796 shares in the last quarter. Finally, BNC Wealth Management LLC boosted its position in Tesla by 1.2% during the 3rd quarter. BNC Wealth Management LLC now owns 40,103 shares of the electric vehicle producer’s stock worth $10,492,000 after acquiring an additional 464 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Stock Up 2.9 %

Shares of NASDAQ:TSLA traded up $8.44 during trading on Thursday, reaching $296.97. 42,265,344 shares of the company traded hands, compared to its average volume of 93,995,656. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $297.80. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08. The firm has a market cap of $953.29 billion, a P/E ratio of 79.05, a price-to-earnings-growth ratio of 8.01 and a beta of 2.29. The firm has a fifty day simple moving average of $237.23 and a 200 day simple moving average of $213.07.

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

Analysts Set New Price Targets

TSLA has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. lifted their price objective on shares of Tesla from $130.00 to $135.00 and gave the company an “underweight” rating in a research note on Thursday, October 24th. HSBC reaffirmed a “reduce” rating and issued a $124.00 price target on shares of Tesla in a research note on Friday, October 11th. Robert W. Baird reissued an “outperform” rating and set a $280.00 target price on shares of Tesla in a report on Tuesday, August 20th. Roth Mkm reaffirmed a “neutral” rating and set a $85.00 price target on shares of Tesla in a research note on Friday, October 11th. Finally, Canaccord Genuity Group lifted their price target on Tesla from $254.00 to $278.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Eight equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, Tesla has a consensus rating of “Hold” and a consensus price target of $219.45.

Insider Activity at Tesla

In related news, Director Kimbal Musk sold 60,500 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $250.23, for a total transaction of $15,138,915.00. Following the transaction, the director now owns 1,563,220 shares of the company’s stock, valued at approximately $391,164,540.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Tesla news, Director Kimbal Musk sold 60,500 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $250.23, for a total transaction of $15,138,915.00. Following the transaction, the director now directly owns 1,563,220 shares in the company, valued at $391,164,540.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Xiaotong Zhu sold 297 shares of the company’s stock in a transaction dated 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 disclosure for this sale can be found here. In the last quarter, insiders sold 76,797 shares of company stock valued at $19,211,821. 20.70% of the stock is owned by corporate insiders.

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.