Tesla, Inc. $TSLA Stake Trimmed by Dash Acquisitions Inc.

Dash Acquisitions Inc. lowered its stake in Tesla, Inc. (NASDAQ:TSLA) by 17.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,131 shares of the electric vehicle producer’s stock after selling 240 shares during the quarter. Dash Acquisitions Inc.’s holdings in Tesla were worth $376,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Cherry Tree Wealth Management LLC increased its stake in Tesla by 86.3% in the 1st quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer’s stock worth $25,000 after purchasing an additional 44 shares in the last quarter. First PREMIER Bank boosted its position in Tesla by 79.2% during the 1st quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer’s stock worth $25,000 after acquiring an additional 42 shares during the period. Arcadia Investment Management Corp MI purchased a new position in Tesla during the 1st quarter valued at about $27,000. Chelsea Counsel Co. grew its stake in Tesla by 59.7% during the 1st quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock valued at $28,000 after acquiring an additional 40 shares in the last quarter. Finally, Evergreen Private Wealth LLC grew its stake in Tesla by 270.0% during the 2nd quarter. Evergreen Private Wealth LLC now owns 111 shares of the electric vehicle producer’s stock valued at $35,000 after acquiring an additional 81 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Buying and Selling

In related news, Director James R. Murdoch sold 60,000 shares of the business’s stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $422.68, for a total value of $25,360,800.00. Following the completion of the sale, the director directly owned 637,031 shares in the company, valued at approximately $269,260,263.08. The trade was a 8.61% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Vaibhav Taneja sold 2,606 shares of the business’s stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $352.38, for a total value of $918,302.28. Following the completion of the sale, the chief financial officer owned 9,856 shares of the company’s stock, valued at approximately $3,473,057.28. This trade represents a 20.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 202,606 shares of company stock worth $75,588,902. 19.90% of the stock is currently owned by insiders.

Tesla Stock Down 1.5%

Shares of Tesla stock opened at $428.75 on Friday. The firm has a market cap of $1.43 trillion, a price-to-earnings ratio of 247.83, a P/E/G ratio of 15.64 and a beta of 2.08. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55. Tesla, Inc. has a 52-week low of $212.11 and a 52-week high of $488.54. The stock has a 50-day simple moving average of $385.34 and a 200-day simple moving average of $332.07.

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

Analyst Upgrades and Downgrades

Several research firms have weighed in on TSLA. JPMorgan Chase & Co. lifted their target price on Tesla from $115.00 to $150.00 in a research note on Friday, October 3rd. BNP Paribas Exane began coverage on Tesla in a research note on Thursday. They set an “underperform” rating and a $307.00 target price on the stock. The Goldman Sachs Group lifted their target price on Tesla from $395.00 to $425.00 and gave the company a “neutral” rating in a research note on Friday, October 3rd. Dbs Bank lifted their target price on Tesla from $300.00 to $450.00 in a research note on Wednesday, September 17th. Finally, HSBC lifted their target price on Tesla from $120.00 to $127.00 in a research note on Monday, September 29th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, twelve have issued a Hold rating and ten have assigned a Sell rating to the company. According to MarketBeat, Tesla has a consensus rating of “Hold” and an average target price of $363.54.

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.