Investment House LLC Decreases Holdings in Tesla, Inc. (NASDAQ:TSLA)

Investment House LLC cut its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 11.0% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,350 shares of the electric vehicle producer’s stock after selling 660 shares during the quarter. Investment House LLC’s holdings in Tesla were worth $1,059,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in TSLA. Apexium Financial LP grew its holdings in shares of Tesla by 736.8% in the fourth quarter. Apexium Financial LP now owns 24,954 shares of the electric vehicle producer’s stock worth $6,201,000 after purchasing an additional 21,972 shares during the last quarter. Forum Financial Management LP grew its holdings in shares of Tesla by 19.7% in the fourth quarter. Forum Financial Management LP now owns 21,772 shares of the electric vehicle producer’s stock worth $5,410,000 after purchasing an additional 3,582 shares during the last quarter. Catalyst Financial Partners LLC grew its holdings in shares of Tesla by 9.4% in the fourth quarter. Catalyst Financial Partners LLC now owns 6,978 shares of the electric vehicle producer’s stock worth $1,734,000 after purchasing an additional 598 shares during the last quarter. Atalanta Sosnoff Capital LLC grew its holdings in shares of Tesla by 3.7% in the fourth quarter. Atalanta Sosnoff Capital LLC now owns 183,297 shares of the electric vehicle producer’s stock worth $45,546,000 after purchasing an additional 6,575 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. grew its holdings in shares of Tesla by 7.4% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 28,222 shares of the electric vehicle producer’s stock worth $7,013,000 after purchasing an additional 1,943 shares during the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on TSLA. Guggenheim restated a “sell” rating and issued a $134.00 target price on shares of Tesla in a report on Tuesday, July 23rd. Robert W. Baird reiterated an “outperform” rating and issued a $280.00 price target on shares of Tesla in a report on Tuesday. Morgan Stanley reiterated an “overweight” rating and issued a $310.00 price target on shares of Tesla in a report on Monday, July 29th. Truist Financial reiterated a “hold” rating and issued a $215.00 price target on shares of Tesla in a report on Wednesday, August 14th. Finally, Wells Fargo & Company reiterated an “underweight” rating and issued a $120.00 price target on shares of Tesla in a report on Monday, July 1st. Nine equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $204.21.

Tesla Price Performance

Shares of TSLA stock traded up $2.17 on Wednesday, reaching $223.27. The company’s stock had a trading volume of 69,951,345 shares, compared to its average volume of 98,836,922. The stock’s fifty day simple moving average is $217.13 and its 200-day simple moving average is $191.47. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $278.98. The company has a current ratio of 1.91, a quick ratio of 1.40 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $713.27 billion, a price-to-earnings ratio of 56.76, a price-to-earnings-growth ratio of 5.60 and a beta of 2.31.

Tesla (NASDAQ:TSLA) last posted its earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share 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 during the quarter, compared to analysts’ expectations of $24.38 billion. During the same period last year, the business posted $0.78 earnings per share. The company’s revenue for the quarter was up 2.3% compared to the same quarter last year. Analysts forecast that Tesla, Inc. will post 1.79 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Robyn M. Denholm sold 66,364 shares of Tesla stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the completion of the sale, the director now directly owns 85,000 shares in the company, valued at $18,696,600. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, Director Robyn M. Denholm sold 66,364 shares of the company’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $219.96, for a total value of $14,597,425.44. Following the completion of the sale, the director now directly owns 85,000 shares of the company’s stock, valued at $18,696,600. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Xiaotong Zhu sold 650 shares of the company’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $174.21, for a total transaction of $113,236.50. Following the completion of the sale, the senior vice president now directly owns 65,155 shares of the company’s stock, valued at $11,350,652.55. The disclosure for this sale can be found here. 25.10% of the stock is owned by corporate insiders.

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.