Matthew 25 Management Corp Trims Stake in Tesla, Inc. (NASDAQ:TSLA)

Matthew 25 Management Corp cut its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 45.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 72,500 shares of the electric vehicle producer’s stock after selling 61,000 shares during the quarter. Tesla accounts for about 5.0% of Matthew 25 Management Corp’s investment portfolio, making the stock its 7th largest holding. Matthew 25 Management Corp’s holdings in Tesla were worth $14,346,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in TSLA. Bank & Trust Co bought a new stake in Tesla in the second quarter valued at $25,000. OLD Point Trust & Financial Services N A bought a new stake in shares of Tesla during the fourth quarter valued at about $37,000. Kessler Investment Group LLC raised its stake in shares of Tesla by 35.9% during the second quarter. Kessler Investment Group LLC now owns 193 shares of the electric vehicle producer’s stock valued at $38,000 after purchasing an additional 51 shares in the last quarter. Aspect Partners LLC raised its stake in shares of Tesla by 121.3% during the second quarter. Aspect Partners LLC now owns 208 shares of the electric vehicle producer’s stock valued at $41,000 after purchasing an additional 114 shares in the last quarter. Finally, 1620 Investment Advisors Inc. bought a new stake in shares of Tesla during the second quarter valued at about $42,000. 66.20% of the stock is currently owned by institutional investors.

Tesla Stock Performance

TSLA traded down $19.44 on Friday, hitting $210.73. The company had a trading volume of 111,432,758 shares, compared to its average volume of 68,186,248. The company’s fifty day moving average price is $224.47 and its 200 day moving average price is $193.60. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $278.98. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.91 and a quick ratio of 1.40. The stock has a market cap of $673.21 billion, a price-to-earnings ratio of 53.76, a price-to-earnings-growth ratio of 5.80 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last posted its earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.10). Tesla had a return on equity of 10.41% and a net margin of 13.00%. The company had revenue of $25.50 billion during the quarter, compared to analyst estimates of $24.38 billion. During the same quarter last year, the firm posted $0.78 earnings per share. The firm’s revenue for the quarter was up 2.3% compared to the same quarter last year. Equities analysts predict that Tesla, Inc. will post 1.75 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on TSLA shares. Wedbush restated an “outperform” rating and set a $300.00 price objective on shares of Tesla in a research note on Wednesday, July 24th. Roth Mkm restated a “neutral” rating and set a $85.00 price objective on shares of Tesla in a research note on Wednesday, July 24th. Barclays cut their price objective on shares of Tesla from $225.00 to $220.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 25th. Guggenheim reaffirmed a “sell” rating and set a $134.00 target price on shares of Tesla in a report on Tuesday, July 23rd. Finally, Sanford C. Bernstein reaffirmed an “underperform” rating and set a $120.00 target price on shares of Tesla in a report on Monday, June 10th. Nine equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, Tesla presently has a consensus rating of “Hold” and a consensus price target of $204.21.

Insider Buying and Selling

In other Tesla news, Director Robyn M. Denholm sold 66,364 shares of Tesla stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $219.96, for a total value 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. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 25.10% 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.