CAP Partners LLC Reduces Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

CAP Partners LLC cut its holdings in Tesla, Inc. (NASDAQ:TSLA) by 8.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,708 shares of the electric vehicle producer’s stock after selling 1,664 shares during the period. Tesla comprises approximately 3.5% of CAP Partners LLC’s portfolio, making the stock its 6th biggest holding. CAP Partners LLC’s holdings in Tesla were worth $4,633,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. International Assets Investment Management LLC raised its holdings in shares of Tesla by 35,611.2% in 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 purchasing an additional 11,023,436 shares during the period. Clean Energy Transition LLP raised its stake in shares of Tesla by 347.7% in the second 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 during the period. Strategic Financial Concepts LLC lifted its position in shares of Tesla by 21,816.0% during the 2nd 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. Healthcare of Ontario Pension Plan Trust Fund grew its stake in shares of Tesla by 236.8% during the 2nd 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 acquiring an additional 1,479,378 shares during the period. Finally, Swedbank AB purchased a new stake in Tesla in the 1st quarter worth about $187,775,000. 66.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Morgan Stanley reiterated an “overweight” rating and set a $310.00 target price on shares of Tesla in a research report on Thursday, October 3rd. Barclays raised their price objective on shares of Tesla from $220.00 to $235.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 29th. Stifel Nicolaus increased their target price on Tesla from $265.00 to $287.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Argus reaffirmed a “buy” rating and issued a $286.00 price target on shares of Tesla in a report on Friday, July 26th. Finally, Bank of America increased their price objective on Tesla from $265.00 to $350.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Nine 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $230.18.

Insiders Place Their Bets

In other Tesla news, CFO Vaibhav Taneja sold 8,000 shares of the business’s stock in a transaction dated 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 sale, the chief financial officer now owns 105,032 shares of the company’s stock, valued at approximately $26,258,000. The trade was a 7.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Xiaotong Zhu sold 297 shares of the firm’s stock in a transaction dated 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 transaction, the senior vice president now directly owns 67,491 shares in the company, valued at $14,967,479.07. This trade represents a 0.44 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 188,797 shares of company stock valued at $57,616,781. Insiders own 20.70% of the company’s stock.

Tesla Stock Up 5.9 %

Shares of Tesla stock opened at $339.77 on Monday. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. The company has a market cap of $1.09 trillion, a P/E ratio of 87.87, a PEG ratio of 10.42 and a beta of 2.29. The company’s fifty day simple moving average is $252.30 and its two-hundred day simple moving average is $221.01. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $358.64.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.14. The company had revenue of $25.18 billion for the quarter, compared to analysts’ expectations of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The firm’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter last year, the company posted $0.53 earnings per share. Research analysts anticipate that Tesla, Inc. will post 1.99 EPS for the current year.

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.