Forum Financial Management LP Sells 2,053 Shares of Tesla, Inc. (NASDAQ:TSLA)

Forum Financial Management LP reduced its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 7.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 26,207 shares of the electric vehicle producer’s stock after selling 2,053 shares during the quarter. Forum Financial Management LP’s holdings in Tesla were worth $6,857,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. International Assets Investment Management LLC boosted its stake in Tesla by 35,611.2% during the 3rd quarter. International Assets Investment Management LLC now owns 11,054,391 shares of the electric vehicle producer’s stock worth $2,892,160,000 after acquiring an additional 11,023,436 shares during the last quarter. Clean Energy Transition LLP increased its position in shares of Tesla by 347.7% in the 2nd quarter. Clean Energy Transition LLP now owns 4,818,600 shares of the electric vehicle producer’s stock valued at $953,505,000 after buying an additional 6,764,300 shares in the last quarter. Strategic Financial Concepts LLC lifted its holdings in Tesla by 21,816.0% during the second quarter. Strategic Financial Concepts LLC now owns 5,902,416 shares of the electric vehicle producer’s stock worth $1,167,970,000 after acquiring an additional 5,875,484 shares in the last quarter. Vanguard Group Inc. grew its stake in Tesla by 1.7% in the first quarter. Vanguard Group Inc. now owns 233,602,120 shares of the electric vehicle producer’s stock valued at $41,064,917,000 after acquiring an additional 3,795,748 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of Tesla by 236.8% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,104,010 shares of the electric vehicle producer’s stock worth $416,341,000 after purchasing an additional 1,479,378 shares in the last quarter. Institutional investors own 66.20% of the company’s stock.

Insider Buying and Selling

In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $250.00, for a total transaction 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. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Tesla news, SVP Xiaotong Zhu sold 297 shares of the business’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $221.77, for a total transaction of $65,865.69. Following the completion of the sale, the senior vice president now owns 67,491 shares in the company, valued at approximately $14,967,479.07. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Vaibhav Taneja sold 4,000 shares of the company’s stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the completion of the sale, the chief financial officer now owns 105,032 shares in the company, valued at $26,258,000. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 12,297 shares of company stock valued at $3,065,866 over the last 90 days. Company insiders own 20.70% of the company’s stock.

Tesla Trading Down 0.3 %

Shares of TSLA stock opened at $248.98 on Monday. The stock has a market cap of $799.24 billion, a price-to-earnings ratio of 68.21, a PEG ratio of 8.24 and a beta of 2.29. The stock has a 50-day moving average of $234.14 and a 200-day moving average of $211.15. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $273.54.

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 analysts’ consensus estimates of $0.58 by $0.14. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The business had revenue of $25.18 billion for the quarter, compared to analysts’ expectations of $25.47 billion. During the same quarter 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, equities research analysts forecast that Tesla, Inc. will post 1.96 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Piper Sandler boosted their price target on shares of Tesla from $310.00 to $315.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Sanford C. Bernstein reiterated an “underperform” rating and set a $120.00 price objective on shares of Tesla in a research note on Thursday, October 3rd. HSBC reissued a “reduce” rating and issued a $124.00 target price on shares of Tesla in a research note on Friday, October 11th. Truist Financial lifted their price objective on shares of Tesla from $236.00 to $238.00 and gave the company a “hold” rating in a research report on Thursday, October 24th. Finally, Barclays upped their target price on shares of Tesla from $220.00 to $235.00 and gave the company an “equal weight” rating in a report on Tuesday, October 29th. Eight investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $219.45.

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.