Fairscale Capital LLC Decreases Position in Tesla, Inc. (NASDAQ:TSLA)

Fairscale Capital LLC lessened its holdings in Tesla, Inc. (NASDAQ:TSLA) by 0.8% during the third quarter, Holdings Channel.com reports. The firm owned 5,308 shares of the electric vehicle producer’s stock after selling 43 shares during the quarter. Tesla accounts for 1.2% of Fairscale Capital LLC’s investment portfolio, making the stock its 16th largest holding. Fairscale Capital LLC’s holdings in Tesla were worth $1,389,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in TSLA. Transcendent Capital Group LLC bought a new stake in Tesla in the 3rd quarter worth $29,000. Bank & Trust Co bought a new stake in Tesla in the 2nd quarter worth $25,000. Clean Yield Group grew its holdings in Tesla by 60.0% in the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after acquiring an additional 48 shares during the last quarter. Abich Financial Wealth Management LLC grew its holdings in Tesla by 168.8% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after acquiring an additional 81 shares during the last quarter. Finally, Valley Wealth Managers Inc. bought a new stake in Tesla in the 2nd quarter worth $26,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Stock Up 3.8 %

TSLA opened at $352.56 on Friday. 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 50 day moving average price of $264.07 and a 200-day moving average price of $226.43. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $361.53. The stock has a market capitalization of $1.13 trillion, a price-to-earnings ratio of 96.59, a PEG ratio of 11.03 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.14. The company had revenue of $25.18 billion during the quarter, compared to analyst estimates of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.53 earnings per share. Equities research analysts forecast that Tesla, Inc. will post 1.99 earnings per share for the current year.

Insider Activity at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 297 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $221.77, for a total value 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 represents a 0.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 transaction, the chief financial officer now owns 105,032 shares of the company’s stock, valued at approximately $26,258,000. The trade was a 7.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 301,187 shares of company stock worth $92,956,692. 20.70% of the stock is owned by company insiders.

Analyst Ratings Changes

TSLA has been the topic of a number of recent analyst reports. Canaccord Genuity Group raised their price target on shares of Tesla from $254.00 to $278.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Wedbush reissued an “outperform” rating and issued a $400.00 price target on shares of Tesla in a report on Monday, November 18th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $245.00 target price on shares of Tesla in a research note on Wednesday, October 23rd. Barclays lifted their target price on shares of Tesla from $220.00 to $235.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 29th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a research note on Thursday, October 24th. Nine investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $230.18.

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.