Emerald Advisers LLC Decreases Stake in Tesla, Inc. (NASDAQ:TSLA)

Emerald Advisers LLC decreased its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 20.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,436 shares of the electric vehicle producer’s stock after selling 635 shares during the quarter. Emerald Advisers LLC’s holdings in Tesla were worth $637,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Vanguard Group Inc. raised its holdings in Tesla by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 233,602,120 shares of the electric vehicle producer’s stock valued at $41,064,917,000 after acquiring an additional 3,795,748 shares during the last quarter. International Assets Investment Management LLC lifted its position in Tesla by 35,611.2% during the third quarter. International Assets Investment Management LLC now owns 11,054,391 shares of the electric vehicle producer’s stock worth $2,892,160,000 after buying an additional 11,023,436 shares in the last quarter. Strategic Financial Concepts LLC boosted its stake in Tesla by 21,816.0% during the second quarter. Strategic Financial Concepts LLC now owns 5,902,416 shares of the electric vehicle producer’s stock worth $1,167,970,000 after buying an additional 5,875,484 shares during the last quarter. ARK Investment Management LLC grew its holdings in Tesla by 2.6% in the 2nd quarter. ARK Investment Management LLC now owns 5,314,395 shares of the electric vehicle producer’s stock valued at $1,051,613,000 after buying an additional 135,966 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Tesla by 9.1% during the second quarter. Dimensional Fund Advisors LP now owns 4,959,699 shares of the electric vehicle producer’s stock worth $981,443,000 after purchasing an additional 412,872 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the completion of the sale, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at approximately $26,258,000. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Vaibhav Taneja sold 4,000 shares of the firm’s stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $250.00, for a total value of $1,000,000.00. Following the completion of the sale, the chief financial officer now owns 105,032 shares in the company, valued at approximately $26,258,000. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Xiaotong Zhu sold 297 shares of the business’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $221.77, for a total transaction of $65,865.69. Following the transaction, the senior vice president now owns 67,491 shares in the company, valued at approximately $14,967,479.07. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 12,297 shares of company stock valued at $3,065,866 over the last quarter. 20.70% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

TSLA has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $295.00 price objective on shares of Tesla in a research report on Tuesday, September 10th. Phillip Securities upgraded shares of Tesla to a “moderate sell” rating in a report on Friday, October 25th. Oppenheimer reiterated a “market perform” rating on shares of Tesla in a report on Tuesday, October 8th. Citigroup decreased their price target on Tesla from $274.00 to $258.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 24th. Finally, JPMorgan Chase & Co. lifted their price objective on Tesla from $130.00 to $135.00 and gave the company an “underweight” rating in a research note on Thursday, October 24th. Eight investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, Tesla presently has a consensus rating of “Hold” and a consensus target price of $219.45.

Tesla Trading Down 0.3 %

NASDAQ:TSLA opened at $248.98 on Monday. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $273.54. The stock’s 50 day moving average price is $234.14 and its 200 day moving average price is $211.15. The company has a market capitalization of $799.24 billion, a PE ratio of 68.21, a P/E/G ratio of 8.24 and a beta of 2.29.

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

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.