Tesla, Inc. (NASDAQ:TSLA) Stock Position Decreased by Indie Asset Partners LLC

Indie Asset Partners LLC cut its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 20.6% during the third quarter, Holdings Channel reports. The firm owned 1,637 shares of the electric vehicle producer’s stock after selling 425 shares during the quarter. Indie Asset Partners LLC’s holdings in Tesla were worth $428,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of TSLA. Integris Wealth Management LLC grew its position in Tesla by 1.0% during the 2nd quarter. Integris Wealth Management LLC now owns 4,065 shares of the electric vehicle producer’s stock worth $804,000 after purchasing an additional 42 shares in the last quarter. Sherrill & Hutchins Financial Advisory Inc grew its holdings in shares of Tesla by 1.4% during the third quarter. Sherrill & Hutchins Financial Advisory Inc now owns 3,058 shares of the electric vehicle producer’s stock valued at $800,000 after buying an additional 43 shares in the last quarter. Echo Wealth Management LLC raised its position in Tesla by 0.7% during the second quarter. Echo Wealth Management LLC now owns 6,474 shares of the electric vehicle producer’s stock valued at $1,281,000 after buying an additional 44 shares during the period. WASHINGTON TRUST Co lifted its stake in Tesla by 3.2% in the 2nd quarter. WASHINGTON TRUST Co now owns 1,433 shares of the electric vehicle producer’s stock worth $284,000 after acquiring an additional 45 shares in the last quarter. Finally, Bellevue Asset Management LLC boosted its position in Tesla by 1.6% during the 2nd quarter. Bellevue Asset Management LLC now owns 2,868 shares of the electric vehicle producer’s stock worth $568,000 after acquiring an additional 45 shares during the period. 66.20% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on TSLA. JPMorgan Chase & Co. upped their target price on Tesla from $130.00 to $135.00 and gave the company an “underweight” rating in a report on Thursday, October 24th. UBS Group downgraded shares of Tesla from a “neutral” rating to a “sell” rating and increased their target price for the stock from $147.00 to $197.00 in a research report on Friday, July 12th. Wolfe Research started coverage on shares of Tesla in a report on Thursday, September 5th. They set a “peer perform” rating on the stock. Morgan Stanley reiterated an “overweight” rating and set a $310.00 price objective on shares of Tesla in a report on Thursday, October 3rd. Finally, William Blair initiated coverage on Tesla in a research note on Thursday, August 29th. They issued an “outperform” rating on the stock. Eight research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $219.45.

Tesla Trading Down 0.3 %

Shares of TSLA opened at $248.98 on Friday. 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 fifty day moving average price of $234.14 and a two-hundred day moving average price of $210.76. The company 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.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.14. The firm had revenue of $25.18 billion during the quarter, compared to analysts’ expectations of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The company’s revenue was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.53 EPS. Analysts predict that Tesla, Inc. will post 1.96 EPS for the current fiscal year.

Insider Activity at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 297 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the senior vice president now owns 67,491 shares of the company’s stock, valued at $14,967,479.07. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, 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 sale, the chief financial officer now owns 105,032 shares in the company, 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 hyperlink. Also, SVP Xiaotong Zhu sold 297 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the transaction, the senior vice president now owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 12,297 shares of company stock valued at $3,065,866. 20.70% of the stock is owned by insiders.

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.