Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Harrell Investment Partners LLC

Harrell Investment Partners LLC cut its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 24.9% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 837 shares of the electric vehicle producer’s stock after selling 277 shares during the period. Harrell Investment Partners LLC’s holdings in Tesla were worth $219,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Boston Mountain Money Management Inc. purchased a new position in Tesla in the 3rd quarter valued at about $263,000. Cherrydale Wealth Management LLC lifted its stake in shares of Tesla by 4.3% in the third quarter. Cherrydale Wealth Management LLC now owns 7,319 shares of the electric vehicle producer’s stock worth $1,915,000 after acquiring an additional 304 shares in the last quarter. Stablepoint Partners LLC boosted its holdings in Tesla by 4.1% in the third quarter. Stablepoint Partners LLC now owns 9,676 shares of the electric vehicle producer’s stock valued at $2,532,000 after purchasing an additional 385 shares during the last quarter. Sapient Capital LLC grew its stake in Tesla by 2.0% during the 3rd quarter. Sapient Capital LLC now owns 12,004 shares of the electric vehicle producer’s stock valued at $3,141,000 after purchasing an additional 233 shares in the last quarter. Finally, ORG Wealth Partners LLC acquired a new position in shares of Tesla in the 3rd quarter valued at approximately $289,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on TSLA. Needham & Company LLC reissued a “hold” rating on shares of Tesla in a research report on Friday. UBS Group lowered shares of Tesla from a “neutral” rating to a “sell” rating and raised their price objective for the stock from $147.00 to $197.00 in a report on Friday, July 12th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $295.00 target price on shares of Tesla in a research note on Tuesday, September 10th. Barclays lowered their price objective on Tesla from $225.00 to $220.00 and set an “equal weight” rating for the company in a report on Thursday, July 25th. Finally, Royal Bank of Canada raised their price target on shares of Tesla from $224.00 to $236.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. Nine analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $210.72.

Insiders Place Their Bets

In other news, Director Robyn M. Denholm sold 66,364 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the sale, the director now owns 85,000 shares in the company, valued at $18,696,600. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related 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. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $221.77, for a total value of $65,865.69. Following the transaction, the senior vice president now directly owns 67,491 shares in the company, valued at approximately $14,967,479.07. This trade represents a 0.00 % decrease in their position. 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 ninety days. 25.10% of the stock is currently owned by company insiders.

Tesla Price Performance

Shares of NASDAQ:TSLA traded up $0.96 on Monday, reaching $218.76. 42,733,492 shares of the company traded hands, compared to its average volume of 94,977,172. The stock has a market capitalization of $697.67 billion, a PE ratio of 54.95, a P/E/G ratio of 6.48 and a beta of 2.29. 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 company’s 50 day moving average is $225.43 and its 200-day moving average is $203.96. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $271.00.

Tesla (NASDAQ:TSLA) last announced its earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.10). The company had revenue of $25.50 billion for the quarter, compared to analysts’ expectations of $24.38 billion. Tesla had a net margin of 13.00% and a return on equity of 10.41%. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.78 earnings per share. As a group, analysts anticipate 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.