MADDEN SECURITIES Corp Sells 1,740 Shares of Tesla, Inc. (NASDAQ:TSLA)

MADDEN SECURITIES Corp reduced its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 10.7% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 14,475 shares of the electric vehicle producer’s stock after selling 1,740 shares during the period. Tesla comprises 1.3% of MADDEN SECURITIES Corp’s investment portfolio, making the stock its 22nd biggest position. MADDEN SECURITIES Corp’s holdings in Tesla were worth $2,864,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Lam Group Inc. bought a new stake in shares of Tesla in the fourth quarter valued at approximately $25,000. Bank & Trust Co purchased a new position in Tesla in the 2nd quarter valued at approximately $25,000. OLD Point Trust & Financial Services N A bought a new stake in Tesla during the 4th quarter valued at $37,000. Kathleen S. Wright Associates Inc. lifted its position in shares of Tesla by 111.1% during the fourth quarter. Kathleen S. Wright Associates Inc. now owns 190 shares of the electric vehicle producer’s stock worth $47,000 after acquiring an additional 100 shares in the last quarter. Finally, Guardian Wealth Management Inc. bought a new position in shares of Tesla in the fourth quarter worth $47,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Transactions at Tesla

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

Tesla Trading Up 3.7 %

TSLA stock traded up $7.08 during midday trading on Thursday, hitting $198.84. The company had a trading volume of 64,076,847 shares, compared to its average volume of 115,384,272. The stock has a market cap of $635.22 billion, a price-to-earnings ratio of 50.72, a PEG ratio of 5.18 and a beta of 2.31. Tesla, Inc. has a 52 week low of $138.80 and a 52 week 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 stock’s 50 day moving average price is $211.60 and its 200 day moving average price is $190.59.

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). The firm had revenue of $25.50 billion for the quarter, compared to the consensus estimate of $24.38 billion. Tesla had a net margin of 13.00% and a return on equity of 10.41%. The company’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.78 earnings per share. As a group, equities research analysts expect that Tesla, Inc. will post 1.79 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

TSLA has been the topic of a number of analyst reports. The Goldman Sachs Group decreased their price objective on Tesla from $248.00 to $230.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 24th. Needham & Company LLC reissued a “hold” rating on shares of Tesla in a report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Tesla from $123.00 to $136.00 and gave the company a “hold” rating in a research note on Thursday, April 25th. Canaccord Genuity Group increased their target price on shares of Tesla from $222.00 to $254.00 and gave the stock a “buy” rating in a research note on Wednesday, July 3rd. Finally, Stifel Nicolaus initiated coverage on shares of Tesla in a research report on Tuesday, June 25th. They set a “buy” rating and a $265.00 price target for the company. Nine investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $204.21.

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.