Quad Cities Investment Group LLC Sells 565 Shares of Tesla, Inc. (NASDAQ:TSLA)

Quad Cities Investment Group LLC trimmed its stake in Tesla, Inc. (NASDAQ:TSLA) by 11.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,193 shares of the electric vehicle producer’s stock after selling 565 shares during the period. Quad Cities Investment Group LLC’s holdings in Tesla were worth $1,097,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of TSLA. Vanguard Group Inc. grew its holdings in shares of Tesla by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 233,602,120 shares of the electric vehicle producer’s stock valued at $41,064,917,000 after purchasing an additional 3,795,748 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of Tesla by 12.9% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,849,425 shares of the electric vehicle producer’s stock valued at $1,731,430,000 after buying an additional 1,125,329 shares during the last quarter. Strategic Financial Concepts LLC grew its stake in shares of 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 valued at $1,167,970,000 after buying an additional 5,875,484 shares during the last quarter. ARK Investment Management LLC grew its stake in shares of Tesla by 2.6% during the second quarter. ARK Investment Management LLC now owns 5,314,395 shares of the electric vehicle producer’s stock valued at $1,051,613,000 after buying an additional 135,966 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of Tesla by 9.1% during the second quarter. Dimensional Fund Advisors LP now owns 4,959,699 shares of the electric vehicle producer’s stock valued at $981,443,000 after buying an additional 412,872 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors.

Insider Activity at Tesla

In other Tesla news, Director Robyn M. Denholm sold 66,364 shares of the business’s stock in a transaction dated 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 completion of the sale, the director now directly owns 85,000 shares in the company, valued at $18,696,600. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related 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 completion of the sale, the director now directly owns 85,000 shares in the company, valued at approximately $18,696,600. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Vaibhav Taneja sold 8,000 shares of the stock in a transaction that occurred on Monday, September 23rd. The stock was 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 $26,258,000. The trade was a 0.00 % decrease in their ownership of the stock. 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 Performance

Shares of NASDAQ TSLA traded down $1.83 during trading on Thursday, reaching $219.50. 25,008,824 shares of the company traded hands, compared to its average volume of 94,461,039. The firm has a 50 day simple moving average of $226.81 and a 200-day simple moving average of $204.69. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $271.00. The stock has a market capitalization of $701.22 billion, a PE ratio of 61.73, a P/E/G ratio of 5.94 and a beta of 2.29. The company has a quick ratio of 1.40, a current ratio of 1.91 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last issued 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 company had revenue of $25.50 billion during the quarter, compared to analysts’ expectations of $24.38 billion. Tesla had a return on equity of 10.41% and a net margin of 13.00%. The company’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.78 EPS. Equities research analysts anticipate that Tesla, Inc. will post 1.75 earnings per share for the current year.

Analyst Ratings Changes

TSLA has been the topic of several recent analyst reports. Oppenheimer restated a “market perform” rating on shares of Tesla in a report on Tuesday, October 8th. William Blair initiated coverage on shares of Tesla in a report on Thursday, August 29th. They issued an “outperform” rating on the stock. Canaccord Genuity Group reaffirmed a “buy” rating and set a $254.00 price objective on shares of Tesla in a research note on Friday, September 13th. China Renaissance upgraded Tesla from a “hold” rating to a “buy” rating and set a $290.00 price target on the stock in a report on Friday, July 5th. Finally, KGI Securities reiterated a “neutral” rating and issued a $236.00 price objective on shares of Tesla in a report on Thursday, July 25th. Nine analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $210.72.

About Tesla

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.