DLK Investment Management LLC Sells 84 Shares of Tesla, Inc. (NASDAQ:TSLA)

DLK Investment Management LLC cut its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 0.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,844 shares of the electric vehicle producer’s stock after selling 84 shares during the period. Tesla accounts for approximately 1.9% of DLK Investment Management LLC’s portfolio, making the stock its 24th largest holding. DLK Investment Management LLC’s holdings in Tesla were worth $4,930,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Castle Rock Wealth Management LLC increased its stake in Tesla by 15.9% in the 3rd quarter. Castle Rock Wealth Management LLC now owns 3,226 shares of the electric vehicle producer’s stock worth $788,000 after acquiring an additional 443 shares during the last quarter. LVW Advisors LLC grew its holdings in shares of Tesla by 42.3% during the third quarter. LVW Advisors LLC now owns 6,319 shares of the electric vehicle producer’s stock worth $1,653,000 after purchasing an additional 1,878 shares in the last quarter. Strong Tower Advisory Services increased its position in shares of Tesla by 3.3% in the third quarter. Strong Tower Advisory Services now owns 34,076 shares of the electric vehicle producer’s stock worth $8,915,000 after purchasing an additional 1,095 shares during the last quarter. BWM Planning LLC purchased a new stake in Tesla in the third quarter valued at approximately $431,000. Finally, Independence Bank of Kentucky grew its stake in Tesla by 9.1% in the 3rd quarter. Independence Bank of Kentucky now owns 2,365 shares of the electric vehicle producer’s stock worth $619,000 after buying an additional 198 shares in the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Tesla

In other news, CFO Vaibhav Taneja sold 8,000 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $250.00, for a total value of $2,000,000.00. Following the sale, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at approximately $26,258,000. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Tesla news, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction on 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 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Vaibhav Taneja sold 8,000 shares of the business’s stock in a transaction on Monday, September 23rd. The stock was 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 position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 74,661 shares of company stock worth $16,663,291. 20.70% of the stock is owned by insiders.

Tesla Stock Down 7.8 %

NASDAQ TSLA traded down $18.51 during trading hours on Friday, reaching $220.26. 86,041,906 shares of the company’s stock traded hands, compared to its average volume of 94,955,125. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $271.00. 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 firm has a 50-day simple moving average of $225.23 and a 200 day simple moving average of $203.30. The firm has a market cap of $703.65 billion, a PE ratio of 61.95, a PEG ratio of 6.54 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last released its earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by ($0.10). The business 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%. Tesla’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.78 earnings per share. Sell-side analysts anticipate that Tesla, Inc. will post 1.75 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

TSLA has been the topic of several research reports. Truist Financial raised their price objective on shares of Tesla from $215.00 to $236.00 and gave the company a “hold” rating in a research report on Thursday, October 3rd. Sanford C. Bernstein reaffirmed an “underperform” rating and set a $120.00 price target on shares of Tesla in a research note on Thursday, October 3rd. Morgan Stanley reiterated an “overweight” rating and set a $310.00 price objective on shares of Tesla in a research report on Thursday, October 3rd. Royal Bank of Canada boosted their target price on Tesla from $224.00 to $236.00 and gave the stock an “outperform” rating in a research report on Tuesday. Finally, Canaccord Genuity Group reiterated a “buy” rating and set a $254.00 price target on shares of Tesla in a research report on Friday, September 13th. Nine investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, Tesla presently has a consensus rating of “Hold” and an average price target of $210.90.

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.