Profit Investment Management LLC Decreases Position in Tesla, Inc. (NASDAQ:TSLA)

Profit Investment Management LLC reduced its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 3.0% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 5,880 shares of the electric vehicle producer’s stock after selling 184 shares during the quarter. Profit Investment Management LLC’s holdings in Tesla were worth $1,538,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bank & Trust Co purchased a new position in shares of Tesla in the second quarter valued at $25,000. Valley Wealth Managers Inc. acquired a new stake in shares of Tesla during the second quarter valued at about $26,000. Abich Financial Wealth Management LLC lifted its stake in shares of Tesla by 168.8% in the second 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 in the last quarter. Clean Yield Group boosted its holdings in Tesla by 60.0% in the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after purchasing an additional 48 shares during the last quarter. Finally, M&R Capital Management Inc. increased its holdings in 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 purchasing an additional 100 shares during the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on TSLA. Canaccord Genuity Group restated a “buy” rating and issued a $254.00 price target on shares of Tesla in a research note on Friday, September 13th. UBS Group cut shares of Tesla from a “neutral” rating to a “sell” rating and increased their price target for the stock from $147.00 to $197.00 in a research report on Friday, July 12th. Wedbush restated an “outperform” rating and set a $300.00 price objective on shares of Tesla in a research note on Wednesday, July 24th. William Blair began coverage on Tesla in a report on Thursday, August 29th. They issued an “outperform” rating for the company. Finally, Guggenheim lifted their price objective on shares of Tesla from $134.00 to $153.00 and gave the stock a “sell” rating in a report on Friday, September 13th. Nine research analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Tesla currently has an average rating of “Hold” and a consensus price target of $210.90.

Tesla Price Performance

NASDAQ:TSLA traded down $18.23 during trading hours on Friday, reaching $220.54. 63,792,852 shares of the company’s stock were exchanged, compared to its average volume of 94,842,188. The company has a market capitalization of $704.55 billion, a P/E ratio of 61.95, a price-to-earnings-growth ratio of 6.54 and a beta of 2.29. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $271.00. The business’s 50-day simple moving average is $225.23 and its two-hundred day simple moving average is $203.30. The company has a quick ratio of 1.40, a current ratio of 1.91 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last issued its earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). Tesla had a return on equity of 10.41% and a net margin of 13.00%. The company had revenue of $25.50 billion during the quarter, compared to analyst estimates of $24.38 billion. During the same quarter in the previous year, the firm earned $0.78 earnings per share. The business’s revenue was up 2.3% compared to the same quarter last year. Sell-side analysts expect that Tesla, Inc. will post 1.75 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Robyn M. Denholm sold 66,364 shares of Tesla stock in a transaction that occurred on 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 transaction, the director now directly owns 85,000 shares of the company’s stock, valued at $18,696,600. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 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 transaction, the director now owns 85,000 shares in the company, valued at approximately $18,696,600. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Xiaotong Zhu sold 297 shares of the company’s stock in a transaction 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 transaction, the senior vice president now directly owns 67,491 shares in the company, valued at $14,967,479.07. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 74,661 shares of company stock worth $16,663,291. Company insiders own 20.70% of the company’s stock.

Tesla Company 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.