Lodestar Private Asset Management LLC Sells 281 Shares of Tesla, Inc. (NASDAQ:TSLA)

Lodestar Private Asset Management LLC trimmed its stake in Tesla, Inc. (NASDAQ:TSLA) by 3.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,701 shares of the electric vehicle producer’s stock after selling 281 shares during the period. Lodestar Private Asset Management LLC’s holdings in Tesla were worth $2,276,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in TSLA. Foundation Wealth Management LLC acquired a new stake in shares of Tesla during the 3rd quarter worth approximately $225,000. Eagle Strategies LLC increased its holdings in Tesla by 41.4% in the 3rd quarter. Eagle Strategies LLC now owns 6,780 shares of the electric vehicle producer’s stock valued at $1,774,000 after buying an additional 1,985 shares during the period. Jacobsen Capital Management boosted its position in shares of Tesla by 19.6% during the 3rd quarter. Jacobsen Capital Management now owns 4,767 shares of the electric vehicle producer’s stock valued at $1,247,000 after acquiring an additional 780 shares in the last quarter. Fidelis Capital Partners LLC raised its position in Tesla by 6.4% in the third quarter. Fidelis Capital Partners LLC now owns 15,054 shares of the electric vehicle producer’s stock worth $3,939,000 after purchasing an additional 904 shares in the last quarter. Finally, Valmark Advisers Inc. boosted its holdings in Tesla by 7.6% during the third quarter. Valmark Advisers Inc. now owns 14,787 shares of the electric vehicle producer’s stock valued at $3,869,000 after purchasing an additional 1,041 shares in the last quarter. Institutional investors own 66.20% of the company’s stock.

Wall Street Analysts Forecast Growth

TSLA has been the subject of a number of recent research reports. Needham & Company LLC reissued a “hold” rating on shares of Tesla in a report on Thursday, October 24th. Sanford C. Bernstein reissued an “underperform” rating and set a $120.00 price objective on shares of Tesla in a report on Thursday, October 3rd. Guggenheim upped their target price on shares of Tesla from $153.00 to $156.00 and gave the stock a “sell” rating in a report on Thursday, October 24th. Jefferies Financial Group increased their target price on shares of Tesla from $165.00 to $195.00 and gave the stock a “hold” rating in a research report on Monday, October 21st. Finally, Canaccord Genuity Group boosted their price target on shares of Tesla from $254.00 to $278.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Eight investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $219.45.

Insider Activity at Tesla

In related news, CFO Vaibhav Taneja sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the completion of the transaction, the chief financial officer now 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, SVP Xiaotong Zhu sold 297 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $221.77, for a total transaction of $65,865.69. Following the sale, the senior vice president now owns 67,491 shares of the company’s stock, valued at $14,967,479.07. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Vaibhav Taneja sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $250.00, for a total value of $2,000,000.00. Following the completion of the transaction, the chief financial officer now owns 105,032 shares of the company’s stock, valued at $26,258,000. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 12,297 shares of company stock worth $3,065,866 in the last ninety days. Company insiders own 20.70% of the company’s stock.

Tesla Stock Performance

Shares of Tesla stock opened at $259.52 on Wednesday. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $273.54. 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 stock has a market capitalization of $833.07 billion, a price-to-earnings ratio of 71.10, a PEG ratio of 7.59 and a beta of 2.29. The firm has a fifty day moving average of $232.09 and a two-hundred day moving average of $209.16.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The business had revenue of $25.18 billion during the quarter, compared to the consensus estimate of $25.47 billion. During the same quarter in the prior year, the company posted $0.53 earnings per share. The firm’s revenue was up 7.8% on a year-over-year basis. As a group, equities research analysts predict that Tesla, Inc. will post 1.75 EPS for the current 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.