RFP Financial Group LLC Decreases Position in Tesla, Inc. (NASDAQ:TSLA)

RFP Financial Group LLC decreased its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 8.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,435 shares of the electric vehicle producer’s stock after selling 131 shares during the quarter. RFP Financial Group LLC’s holdings in Tesla were worth $375,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Kessler Investment Group LLC raised its stake in shares of Tesla by 11,203.1% in the third quarter. Kessler Investment Group LLC now owns 21,815 shares of the electric vehicle producer’s stock worth $5,707,000 after buying an additional 21,622 shares during the period. Fortis Group Advisors LLC raised its stake in Tesla by 6.0% during the 3rd quarter. Fortis Group Advisors LLC now owns 1,780 shares of the electric vehicle producer’s stock worth $466,000 after acquiring an additional 101 shares during the period. Sweeney & Michel LLC boosted its position in shares of Tesla by 32.3% in the third quarter. Sweeney & Michel LLC now owns 2,118 shares of the electric vehicle producer’s stock worth $554,000 after purchasing an additional 517 shares during the period. U S Global Investors Inc. purchased a new position in shares of Tesla in the third quarter valued at about $2,451,000. Finally, Calton & Associates Inc. grew its holdings in Tesla by 40.9% during the 3rd quarter. Calton & Associates Inc. now owns 2,013 shares of the electric vehicle producer’s stock valued at $527,000 after buying an additional 584 shares in the last quarter. Institutional investors own 66.20% of the company’s stock.

Insider Buying and Selling

In other news, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction on Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the sale, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. 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 this hyperlink. In other Tesla news, Director Robyn M. Denholm sold 66,364 shares of the firm’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 value of $14,597,425.44. Following the completion of the transaction, the director now owns 85,000 shares of the company’s stock, valued at $18,696,600. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Xiaotong Zhu sold 297 shares of the company’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the sale, the senior vice president now directly owns 67,491 shares in the company, valued at $14,967,479.07. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 74,661 shares of company stock valued at $16,663,291. Company insiders own 25.10% of the company’s stock.

Tesla Trading Down 1.0 %

TSLA traded down $2.27 during trading hours on Tuesday, reaching $216.58. The company’s stock had a trading volume of 15,961,018 shares, compared to its average volume of 93,743,133. The stock has a market cap of $690.72 billion, a PE ratio of 55.52, a P/E/G ratio of 6.31 and a beta of 2.29. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two 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 business’s 50-day moving average is $228.09 and its 200-day moving average is $205.99.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). The business had revenue of $25.50 billion for the quarter, compared to analyst estimates of $24.38 billion. Tesla had a return on equity of 10.41% and a net margin of 13.00%. The firm’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.78 earnings per share. As a group, equities research analysts predict that Tesla, Inc. will post 1.75 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have issued reports on the company. TD Cowen lifted their price objective on Tesla from $160.00 to $180.00 and gave the stock a “hold” rating in a research note on Wednesday, July 3rd. Stifel Nicolaus started coverage on Tesla in a research note on Tuesday, June 25th. They set a “buy” rating and a $265.00 price objective on the stock. Guggenheim upped their price objective on Tesla from $134.00 to $153.00 and gave the company a “sell” rating in a research report on Friday, September 13th. HSBC reaffirmed a “reduce” rating and set a $124.00 price target on shares of Tesla in a research note on Friday, October 11th. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $310.00 price objective on shares of Tesla in a research report on Thursday, October 3rd. Nine analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $211.63.

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.