Fire Capital Management LLC Sells 579 Shares of Tesla, Inc. $TSLA

Fire Capital Management LLC reduced its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 4.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,348 shares of the electric vehicle producer’s stock after selling 579 shares during the period. Tesla makes up about 2.7% of Fire Capital Management LLC’s investment portfolio, making the stock its 7th largest position. Fire Capital Management LLC’s holdings in Tesla were worth $4,240,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Siren L.L.C. acquired a new position in Tesla during the first quarter worth about $2,332,000. Zuckerman Investment Group LLC increased its stake in Tesla by 6.9% in the 1st quarter. Zuckerman Investment Group LLC now owns 12,748 shares of the electric vehicle producer’s stock worth $3,304,000 after purchasing an additional 826 shares in the last quarter. Keystone Global Partners LLC purchased a new position in Tesla in the 1st quarter worth about $594,000. Strs Ohio purchased a new position in Tesla in the 1st quarter worth about $205,495,000. Finally, IFM Investors Pty Ltd increased its stake in Tesla by 8.5% in the 1st quarter. IFM Investors Pty Ltd now owns 586,460 shares of the electric vehicle producer’s stock worth $153,436,000 after purchasing an additional 46,087 shares in the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Tesla

In related news, Director James R. Murdoch sold 60,000 shares of the 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 transaction, the director owned 637,031 shares in the company, valued at approximately $269,260,263.08. This represents a 8.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Vaibhav Taneja sold 2,606 shares of the 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 transaction, the chief financial officer owned 9,856 shares in the company, valued at $3,473,057.28. This represents a 20.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 202,606 shares of company stock valued at $75,588,902. 19.90% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft lifted their price target on Tesla from $435.00 to $440.00 and gave the stock a “buy” rating in a research note on Thursday, October 23rd. Evercore ISI dropped their price target on Tesla from $300.00 to $235.00 in a research note on Friday, October 24th. Needham & Company LLC reissued a “hold” rating on shares of Tesla in a research note on Thursday, October 23rd. Glj Research reissued a “sell” rating on shares of Tesla in a research note on Wednesday, October 22nd. Finally, Melius Research set a $520.00 price target on Tesla and gave the stock a “buy” rating in a research note on Monday, October 13th. One research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, twelve have given a Hold rating and eleven have assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $381.00.

Tesla Trading Up 1.8%

NASDAQ TSLA opened at $460.55 on Wednesday. The company has a current ratio of 2.07, a quick ratio of 1.67 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a 1-year low of $214.25 and a 1-year high of $488.54. The firm’s fifty day simple moving average is $403.03 and its 200-day simple moving average is $343.93. The company has a market capitalization of $1.53 trillion, a PE ratio of 307.03, a price-to-earnings-growth ratio of 16.51 and a beta of 2.08.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, October 22nd. The electric vehicle producer reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.02. Tesla had a return on equity of 6.61% and a net margin of 5.51%.The firm had revenue of $28.10 billion during the quarter, compared to analysts’ expectations of $24.98 billion. During the same quarter last year, the firm earned $0.72 earnings per share. The business’s revenue for the quarter was up 11.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

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.