Indie Asset Partners LLC Reduces Holdings in Tesla, Inc. (NASDAQ:TSLA)

Indie Asset Partners LLC cut its stake in Tesla, Inc. (NASDAQ:TSLA) by 20.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,637 shares of the electric vehicle producer’s stock after selling 425 shares during the period. Indie Asset Partners LLC’s holdings in Tesla were worth $428,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. China Universal Asset Management Co. Ltd. raised its position in Tesla by 0.9% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 36,399 shares of the electric vehicle producer’s stock valued at $6,399,000 after purchasing an additional 331 shares during the last quarter. BNP Paribas purchased a new stake in Tesla during the 1st quarter valued at approximately $566,000. Nordea Investment Management AB lifted its position in Tesla by 14.4% during the 1st quarter. Nordea Investment Management AB now owns 888,890 shares of the electric vehicle producer’s stock worth $157,209,000 after acquiring an additional 112,125 shares during the period. Haverford Trust Co lifted its position in Tesla by 100.4% during the 1st quarter. Haverford Trust Co now owns 2,150 shares of the electric vehicle producer’s stock worth $378,000 after acquiring an additional 1,077 shares during the period. Finally, Centerpoint Advisors LLC grew its stake in shares of Tesla by 4.6% in the 1st quarter. Centerpoint Advisors LLC now owns 1,370 shares of the electric vehicle producer’s stock valued at $241,000 after purchasing an additional 60 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insider Activity

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

Wall Street Analysts Forecast Growth

Several research firms have recently commented on TSLA. Barclays increased their price target on Tesla from $220.00 to $235.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 29th. Needham & Company LLC restated a “hold” rating on shares of Tesla in a research note on Thursday, October 24th. Oppenheimer reissued a “market perform” rating on shares of Tesla in a report on Tuesday, October 8th. KGI Securities upgraded Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 target price on the stock in a research report on Thursday, October 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, August 20th. Eight equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Tesla presently has an average rating of “Hold” and an average price target of $219.45.

Tesla Stock Down 0.3 %

Shares of Tesla stock opened at $248.98 on Friday. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $273.54. The company has a market capitalization of $799.24 billion, a P/E ratio of 68.21, a PEG ratio of 8.24 and a beta of 2.29. The business’s fifty day moving average price is $234.14 and its two-hundred day moving average price is $210.76. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.14. The business had revenue of $25.18 billion during 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%. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.53 earnings per share. As a group, research analysts forecast 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.