MADDEN SECURITIES Corp Cuts Position in Tesla, Inc. (NASDAQ:TSLA)

MADDEN SECURITIES Corp lowered its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 10.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor 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 portfolio, making the stock its 22nd largest holding. MADDEN SECURITIES Corp’s holdings in Tesla were worth $2,864,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Lam Group Inc. purchased a new stake in shares of Tesla during the 4th quarter worth approximately $25,000. Bank & Trust Co acquired a new position in Tesla during the second quarter worth $25,000. OLD Point Trust & Financial Services N A purchased a new stake in Tesla during the fourth quarter worth $37,000. Kathleen S. Wright Associates Inc. grew its holdings in Tesla by 111.1% in the fourth quarter. Kathleen S. Wright Associates Inc. now owns 190 shares of the electric vehicle producer’s stock valued at $47,000 after purchasing an additional 100 shares during the last quarter. Finally, Guardian Wealth Management Inc. purchased a new position in shares of Tesla in the fourth quarter valued at $47,000. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 650 shares of the company’s stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $174.21, for a total value of $113,236.50. Following the completion of the transaction, the senior vice president now owns 65,155 shares in the company, valued at approximately $11,350,652.55. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Tesla news, SVP Xiaotong Zhu sold 650 shares of the business’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $174.21, for a total value of $113,236.50. Following the transaction, the senior vice president now owns 65,155 shares in the company, valued at approximately $11,350,652.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robyn M. Denholm sold 66,364 shares of the firm’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 sale, the director now owns 85,000 shares of the company’s stock, valued at $18,696,600. The disclosure for this sale can be found here. Company insiders own 25.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on TSLA. The Goldman Sachs Group lowered their price objective on shares of Tesla from $248.00 to $230.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 24th. Guggenheim reissued a “sell” rating and set a $134.00 price objective on shares of Tesla in a research note on Tuesday, July 23rd. Royal Bank of Canada reduced their target price on Tesla from $227.00 to $224.00 and set an “outperform” rating on the stock in a research note on Thursday. Truist Financial raised their price target on Tesla from $162.00 to $215.00 and gave the stock a “hold” rating in a research report on Wednesday, July 24th. Finally, Robert W. Baird reissued an “outperform” rating and issued a $280.00 price target on shares of Tesla in a report on Tuesday, July 16th. Nine investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Tesla currently has an average rating of “Hold” and an average target price of $204.21.

Tesla Trading Up 3.7 %

Shares of Tesla stock traded up $7.08 during trading hours on Thursday, hitting $198.84. The company’s stock had a trading volume of 64,076,847 shares, compared to its average volume of 115,384,272. The business has a fifty day moving average of $211.60 and a 200 day moving average of $190.59. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $278.98. The company has a quick ratio of 1.40, a current ratio of 1.91 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $635.22 billion, a PE ratio of 50.72, a P/E/G ratio of 5.18 and a beta of 2.31.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by ($0.10). The company had revenue of $25.50 billion during the quarter, compared to analyst estimates of $24.38 billion. Tesla had a net margin of 13.00% and a return on equity of 10.41%. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.78 earnings per share. As a group, equities analysts forecast that Tesla, Inc. will post 1.79 EPS for the current year.

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.