STF Management LP Lowers Holdings in Tesla, Inc. (NASDAQ:TSLA)

STF Management LP trimmed its stake in Tesla, Inc. (NASDAQ:TSLA) by 10.1% during the third quarter, HoldingsChannel.com reports. The fund owned 26,744 shares of the electric vehicle producer’s stock after selling 2,998 shares during the quarter. Tesla accounts for about 3.1% of STF Management LP’s holdings, making the stock its 7th largest position. STF Management LP’s holdings in Tesla were worth $6,997,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of TSLA. Connable Office Inc. boosted its stake in Tesla by 0.3% in the third quarter. Connable Office Inc. now owns 12,872 shares of the electric vehicle producer’s stock worth $3,368,000 after purchasing an additional 38 shares in the last quarter. Holistic Financial Partners boosted its stake in Tesla by 1.0% in the third quarter. Holistic Financial Partners now owns 4,055 shares of the electric vehicle producer’s stock worth $1,061,000 after purchasing an additional 40 shares in the last quarter. Integris Wealth Management LLC lifted its stake in shares of Tesla by 1.0% during the second quarter. Integris Wealth Management LLC now owns 4,065 shares of the electric vehicle producer’s stock valued at $804,000 after acquiring an additional 42 shares during the period. Sherrill & Hutchins Financial Advisory Inc lifted its stake in shares of Tesla by 1.4% during the third quarter. Sherrill & Hutchins Financial Advisory Inc now owns 3,058 shares of the electric vehicle producer’s stock valued at $800,000 after acquiring an additional 43 shares during the period. Finally, Altman Advisors Inc. lifted its stake in shares of Tesla by 0.4% during the third quarter. Altman Advisors Inc. now owns 10,754 shares of the electric vehicle producer’s stock valued at $2,814,000 after acquiring an additional 43 shares during the period. 66.20% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on TSLA. Roth Mkm reaffirmed a “neutral” rating and set a $85.00 price target on shares of Tesla in a research note on Friday, October 11th. Stifel Nicolaus upped their price target on Tesla from $265.00 to $287.00 and gave the company a “buy” rating in a research note on Friday, October 25th. William Blair began coverage on Tesla in a research note on Thursday, August 29th. They set an “outperform” rating on the stock. Jefferies Financial Group upped their price objective on Tesla from $195.00 to $300.00 and gave the company a “hold” rating in a report on Thursday, November 14th. Finally, Argus reiterated a “buy” rating and issued a $286.00 price objective on shares of Tesla in a report on Friday, July 26th. Nine 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 has an average rating of “Hold” and an average target price of $230.18.

Tesla Stock Down 0.5 %

NASDAQ:TSLA opened at $340.17 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84. The company has a market cap of $1.09 trillion, a PE ratio of 93.20, a PEG ratio of 11.24 and a beta of 2.29. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $358.64. The stock has a 50-day simple moving average of $261.63 and a 200 day simple moving average of $224.93.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, beating the consensus estimate of $0.58 by $0.14. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The firm had revenue of $25.18 billion during the quarter, compared to analysts’ expectations of $25.47 billion. During the same period in the prior year, the firm posted $0.53 earnings per share. The business’s quarterly revenue was up 7.8% compared to the same quarter last year. On average, sell-side analysts expect that Tesla, Inc. will post 1.99 EPS for the current fiscal year.

Insider Activity at Tesla

In other news, CFO Vaibhav Taneja sold 4,000 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at $26,258,000. This trade represents a 3.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at 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 value of $65,865.69. Following the completion of the sale, 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 0.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 301,187 shares of company stock valued at $92,956,692. Insiders own 20.70% of the company’s stock.

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.