Guinness Atkinson Asset Management Inc Sells 146 Shares of Tesla, Inc. $TSLA

Guinness Atkinson Asset Management Inc decreased its holdings in Tesla, Inc. (NASDAQ:TSLA) by 14.3% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 878 shares of the electric vehicle producer’s stock after selling 146 shares during the quarter. Guinness Atkinson Asset Management Inc’s holdings in Tesla were worth $279,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Goldman Sachs Group Inc. increased its position in shares of Tesla by 322.1% during the first 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 buying an additional 20,291,139 shares during the period. Nuveen LLC bought a new stake in Tesla during the first quarter worth about $3,247,619,000. Kingstone Capital Partners Texas LLC grew its stake in shares of Tesla by 581,880.5% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 6,436,704 shares of the electric vehicle producer’s stock worth $2,044,683,000 after buying an additional 6,435,598 shares during the last quarter. Amundi increased its holdings in shares of Tesla by 29.4% during the first quarter. Amundi now owns 16,771,882 shares of the electric vehicle producer’s stock valued at $4,482,789,000 after acquiring an additional 3,814,610 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in Tesla by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer’s stock valued at $63,983,418,000 after purchasing an additional 3,694,524 shares in the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. CICC Research increased their price target on shares of Tesla from $360.00 to $450.00 and gave the company an “outperform” rating in a report on Thursday, September 18th. Guggenheim reaffirmed a “sell” rating and set a $175.00 price target on shares of Tesla in a report on Wednesday, July 23rd. Melius began coverage on Tesla in a report on Monday, October 13th. They issued a “buy” rating and a $520.00 price objective for the company. Wall Street Zen upgraded shares of Tesla from a “sell” rating to a “hold” rating in a research note on Saturday. Finally, HSBC lifted their price target on shares of Tesla from $120.00 to $127.00 in a research note on Monday, September 29th. One research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, twelve have assigned a Hold rating and eleven have given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $381.00.

Tesla Stock Down 3.4%

TSLA stock opened at $433.72 on Monday. The business’s 50-day moving average price is $398.06 and its 200-day moving average price is $341.21. The stock has a market cap of $1.44 trillion, a P/E ratio of 289.15, a PEG ratio of 15.45 and a beta of 2.08. The company has a quick ratio of 1.67, a current ratio of 2.07 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a twelve month low of $214.25 and a twelve month high of $488.54.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, October 22nd. The electric vehicle producer reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.02. The business had revenue of $28.10 billion for the quarter, compared to the consensus estimate of $24.98 billion. Tesla had a net margin of 5.51% and a return on equity of 6.61%. The company’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.72 earnings per share. On average, equities research analysts forecast that Tesla, Inc. will post 2.56 EPS for the current year.

Insiders Place Their Bets

In other news, SVP Xiaotong Zhu sold 20,000 shares of the company’s stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $363.75, for a total value of $7,275,000.00. Following the completion of the transaction, the senior vice president owned 47,600 shares of the company’s stock, valued at $17,314,500. This represents a 29.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director James R. Murdoch sold 60,000 shares of Tesla stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $422.68, for a total value of $25,360,800.00. Following the sale, the director directly owned 637,031 shares in the company, valued at $269,260,263.08. This trade represents a 8.61% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 202,606 shares of company stock worth $75,588,902. Corporate insiders own 19.90% of the company’s stock.

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.