Sunburst Financial Group LLC Trims Stake in Tesla, Inc. (NASDAQ:TSLA)

Sunburst Financial Group LLC cut its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 5.9% in the third quarter, Holdings Channel.com reports. The firm owned 1,091 shares of the electric vehicle producer’s stock after selling 69 shares during the quarter. Sunburst Financial Group LLC’s holdings in Tesla were worth $286,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. increased its stake 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 worth $41,064,917,000 after buying an additional 3,795,748 shares during the period. International Assets Investment Management LLC boosted its holdings in shares of Tesla by 35,611.2% in the third quarter. International Assets Investment Management LLC now owns 11,054,391 shares of the electric vehicle producer’s stock valued at $2,892,160,000 after purchasing an additional 11,023,436 shares during the period. Strategic Financial Concepts LLC grew its stake in 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 purchasing an additional 5,875,484 shares in the last quarter. ARK Investment Management LLC increased its holdings in Tesla by 2.6% during the 2nd quarter. ARK Investment Management LLC now owns 5,314,395 shares of the electric vehicle producer’s stock worth $1,051,613,000 after purchasing an additional 135,966 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Tesla by 9.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,959,699 shares of the electric vehicle producer’s stock worth $981,443,000 after buying an additional 412,872 shares during the period. Institutional investors own 66.20% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction 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 transaction, the chief financial officer now directly owns 105,032 shares in the company, valued at approximately $26,258,000. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CFO Vaibhav Taneja sold 4,000 shares of the firm’s stock in a transaction dated 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 transaction, the chief financial officer now directly owns 105,032 shares in the company, valued at $26,258,000. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Xiaotong Zhu sold 297 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $221.77, for a total transaction of $65,865.69. Following the completion of the transaction, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders 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 owned by insiders.

Tesla Trading Up 0.8 %

Tesla stock traded up $2.15 during trading on Wednesday, reaching $261.67. 31,785,685 shares of the company were exchanged, compared to its average volume of 94,370,297. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37. The stock’s 50 day simple moving average is $232.09 and its two-hundred day simple moving average is $209.16. The company has a market capitalization of $839.98 billion, a P/E ratio of 71.63, a PEG ratio of 7.59 and a beta of 2.29. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $273.54.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.14. The company had revenue of $25.18 billion for the quarter, compared to the consensus estimate 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 period in the previous year, the firm earned $0.53 earnings per share. On average, equities research analysts expect that Tesla, Inc. will post 1.75 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently commented on TSLA shares. William Blair began coverage on shares of Tesla in a report on Thursday, August 29th. They issued an “outperform” rating for the company. JPMorgan Chase & Co. boosted their price objective on shares of Tesla from $130.00 to $135.00 and gave the stock an “underweight” rating in a research note on Thursday, October 24th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $295.00 target price on shares of Tesla in a research report on Tuesday, September 10th. Needham & Company LLC reissued a “hold” rating on shares of Tesla in a research report on Thursday, October 24th. Finally, Jefferies Financial Group lifted their target price on Tesla from $165.00 to $195.00 and gave the company a “hold” rating in a research note on Monday, October 21st. Eight analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, Tesla presently has an average rating of “Hold” and a consensus target price of $219.45.

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.