Quad Cities Investment Group LLC Sells 565 Shares of Tesla, Inc. (NASDAQ:TSLA)

Quad Cities Investment Group LLC lessened its holdings in Tesla, Inc. (NASDAQ:TSLA) by 11.9% in the third quarter, HoldingsChannel reports. The institutional investor owned 4,193 shares of the electric vehicle producer’s stock after selling 565 shares during the quarter. Quad Cities Investment Group LLC’s holdings in Tesla were worth $1,097,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of TSLA. Vanguard Group Inc. raised its stake in Tesla by 1.7% during 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 purchasing an additional 3,795,748 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of Tesla by 12.9% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,849,425 shares of the electric vehicle producer’s stock valued at $1,731,430,000 after buying an additional 1,125,329 shares during the last quarter. Strategic Financial Concepts LLC lifted its holdings in shares of Tesla by 21,816.0% in 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 in the last quarter. ARK Investment Management LLC boosted its position in shares of Tesla by 2.6% during the second quarter. ARK Investment Management LLC now owns 5,314,395 shares of the electric vehicle producer’s stock worth $1,051,613,000 after acquiring an additional 135,966 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake 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 valued at $981,443,000 after acquiring an additional 412,872 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on TSLA. TD Cowen increased their price objective on shares of Tesla from $160.00 to $180.00 and gave the company a “hold” rating in a report on Wednesday, July 3rd. Morgan Stanley restated an “overweight” rating and set a $310.00 price target on shares of Tesla in a report on Thursday, October 3rd. Truist Financial upped their price objective on Tesla from $215.00 to $236.00 and gave the stock a “hold” rating in a report on Thursday, October 3rd. Piper Sandler boosted their price target on shares of Tesla from $300.00 to $310.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 25th. Finally, Wells Fargo & Company reiterated an “underweight” rating and set a $120.00 price objective on shares of Tesla in a research report on Monday, July 1st. Nine analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $210.72.

Insider Buying and Selling at Tesla

In other news, Director Robyn M. Denholm sold 66,364 shares of the company’s 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 directly owns 85,000 shares of the company’s stock, valued at approximately $18,696,600. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director Robyn M. Denholm sold 66,364 shares of the business’s 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 directly owns 85,000 shares in the company, valued at $18,696,600. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Vaibhav Taneja sold 8,000 shares of the stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $250.00, for a total value of $2,000,000.00. Following the completion of the sale, the chief financial officer now owns 105,032 shares of the company’s stock, valued at approximately $26,258,000. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 74,661 shares of company stock worth $16,663,291 over the last three months. Corporate insiders own 20.70% of the company’s stock.

Tesla Stock Down 0.8 %

Shares of NASDAQ:TSLA traded down $1.83 on Thursday, reaching $219.50. The company had a trading volume of 25,008,824 shares, compared to its average volume of 94,461,039. 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 firm has a market capitalization of $701.22 billion, a PE ratio of 61.73, a PEG ratio of 5.94 and a beta of 2.29. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $271.00. The firm’s 50 day simple moving average is $226.81 and its 200-day simple moving average is $204.69.

Tesla (NASDAQ:TSLA) last announced its 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). Tesla had a return on equity of 10.41% and a net margin of 13.00%. The firm had revenue of $25.50 billion during the quarter, compared to the consensus estimate of $24.38 billion. During the same quarter in the prior year, the firm posted $0.78 earnings per share. The business’s revenue for the quarter was up 2.3% compared to the same quarter last year. As a group, analysts expect that Tesla, Inc. will post 1.75 earnings per share for the current fiscal year.

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.