Tesla, Inc. $TSLA Stock Holdings Lessened by Wedmont Private Capital

Wedmont Private Capital cut its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 6.6% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 52,269 shares of the electric vehicle producer’s stock after selling 3,688 shares during the quarter. Tesla comprises 0.7% of Wedmont Private Capital’s holdings, making the stock its 24th biggest position. Wedmont Private Capital’s holdings in Tesla were worth $15,465,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of TSLA. Goldman Sachs Group Inc. boosted its position in shares of Tesla by 322.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer’s stock valued at $6,891,201,000 after purchasing an additional 20,291,139 shares during the period. Nuveen LLC acquired a new stake in Tesla during the 1st quarter worth about $3,247,619,000. GAMMA Investing LLC lifted its stake in Tesla by 27,378.6% during the first quarter. GAMMA Investing LLC now owns 9,812,316 shares of the electric vehicle producer’s stock valued at $2,542,960,000 after buying an additional 9,776,607 shares in the last quarter. Amundi boosted its holdings in shares of Tesla by 29.4% in the first quarter. Amundi now owns 16,771,882 shares of the electric vehicle producer’s stock worth $4,482,789,000 after buying an additional 3,814,610 shares during the period. Finally, Vanguard Group Inc. increased its position in shares of Tesla by 1.5% in the first quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer’s stock worth $63,983,418,000 after acquiring an additional 3,694,524 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, SVP Xiaotong Zhu sold 20,000 shares of the firm’s stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $363.75, for a total value of $7,275,000.00. Following the sale, the senior vice president owned 47,600 shares in the company, valued at approximately $17,314,500. This trade represents a 29.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director James R. Murdoch sold 120,000 shares of the company’s stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $350.29, for a total transaction of $42,034,800.00. Following the transaction, the director owned 697,031 shares of the company’s stock, valued at approximately $244,162,988.99. The trade was a 14.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 208,606 shares of company stock valued at $77,360,462. Insiders own 20.70% of the company’s stock.

Tesla Price Performance

NASDAQ TSLA opened at $425.86 on Thursday. Tesla, Inc. has a 1 year low of $212.11 and a 1 year high of $488.54. The company has a fifty day simple moving average of $336.29 and a 200 day simple moving average of $306.18. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07. The company has a market cap of $1.37 trillion, a P/E ratio of 246.16, a P/E/G ratio of 14.71 and a beta of 2.06.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.03). Tesla had a return on equity of 7.98% and a net margin of 6.54%.The firm had revenue of $22.50 billion during the quarter, compared to the consensus estimate of $23.18 billion. During the same quarter last year, the business earned $0.52 EPS. The business’s revenue was down 11.8% compared to the same quarter last year. On average, sell-side analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

Analysts Set New Price Targets

Several brokerages recently commented on TSLA. Baird R W downgraded shares of Tesla from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 9th. Robert W. Baird reissued a “neutral” rating and set a $320.00 target price on shares of Tesla in a research note on Monday, June 9th. Guggenheim reaffirmed a “sell” rating and issued a $175.00 target price on shares of Tesla in a research report on Wednesday, July 23rd. Bank of America lifted their price target on Tesla from $305.00 to $341.00 and gave the company a “neutral” rating in a report on Monday, July 21st. Finally, Needham & Company LLC reissued a “hold” rating on shares of Tesla in a research note on Thursday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, fourteen have assigned a Hold rating and nine have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Tesla presently has a consensus rating of “Hold” and a consensus price target of $307.46.

Tesla 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.