Tesla, Inc. (NASDAQ:TSLA) Position Lessened by Y.D. More Investments Ltd

Y.D. More Investments Ltd lowered its position in Tesla, Inc. (NASDAQ:TSLA) by 31.8% during the second quarter, HoldingsChannel.com reports. The firm owned 5,355 shares of the electric vehicle producer’s stock after selling 2,492 shares during the quarter. Y.D. More Investments Ltd’s holdings in Tesla were worth $1,402,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. Axiom Financial Strategies LLC lifted its stake in shares of Tesla by 9.8% in the 1st quarter. Axiom Financial Strategies LLC now owns 906 shares of the electric vehicle producer’s stock valued at $777,000 after purchasing an additional 81 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Tesla by 19.7% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,001,923 shares of the electric vehicle producer’s stock worth $1,079,672,000 after acquiring an additional 164,789 shares in the last quarter. MAS Advisors LLC raised its stake in shares of Tesla by 25.7% in the 1st quarter. MAS Advisors LLC now owns 396 shares of the electric vehicle producer’s stock valued at $433,000 after acquiring an additional 81 shares in the last quarter. Ergoteles LLC lifted its holdings in Tesla by 33.4% in the 1st quarter. Ergoteles LLC now owns 3,567 shares of the electric vehicle producer’s stock worth $3,844,000 after purchasing an additional 893 shares during the last quarter. Finally, Mackenzie Financial Corp boosted its position in Tesla by 6.8% during the first quarter. Mackenzie Financial Corp now owns 72,167 shares of the electric vehicle producer’s stock worth $77,767,000 after purchasing an additional 4,593 shares during the period. 41.87% of the stock is owned by institutional investors and hedge funds.

Tesla Price Performance

Shares of TSLA stock opened at $265.28 on Tuesday. Tesla, Inc. has a 1 year low of $101.81 and a 1 year high of $313.80. The company has a current ratio of 1.59, a quick ratio of 1.07 and a debt-to-equity ratio of 0.02. The firm’s 50 day moving average is $255.83 and its 200-day moving average is $220.81. The firm has a market capitalization of $842.00 billion, a price-to-earnings ratio of 75.15, a PEG ratio of 4.28 and a beta of 2.09.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, July 19th. The electric vehicle producer reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.22. The firm had revenue of $24.93 billion for the quarter, compared to the consensus estimate of $24.22 billion. Tesla had a return on equity of 26.10% and a net margin of 12.97%. The business’s revenue for the quarter was up 47.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.65 EPS. Sell-side analysts forecast that Tesla, Inc. will post 2.94 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. UBS Group began coverage on shares of Tesla in a research note on Tuesday, September 12th. They issued a “neutral” rating and a $290.00 price objective for the company. Jefferies Financial Group upped their price target on shares of Tesla from $185.00 to $265.00 and gave the company a “hold” rating in a report on Monday, July 10th. Royal Bank of Canada reiterated an “outperform” rating and issued a $305.00 price objective on shares of Tesla in a research note on Tuesday, September 12th. Truist Financial increased their target price on Tesla from $240.00 to $254.00 and gave the company a “hold” rating in a research note on Thursday, July 20th. Finally, JPMorgan Chase & Co. upped their price target on Tesla from $115.00 to $120.00 and gave the stock an “underweight” rating in a report on Monday, July 3rd. Six analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $239.43.

Insider Buying and Selling

In other news, CFO Zachary Kirkhorn sold 3,750 shares of the stock in a transaction on Wednesday, July 5th. The stock was sold at an average price of $278.70, for a total value of $1,045,125.00. Following the transaction, the chief financial officer now owns 197,540 shares of the company’s stock, valued at approximately $55,054,398. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CFO Zachary Kirkhorn sold 3,750 shares of the stock in a transaction that occurred on Wednesday, July 5th. The shares were sold at an average price of $278.70, for a total value of $1,045,125.00. Following the sale, the chief financial officer now directly owns 197,540 shares in the company, valued at approximately $55,054,398. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Andrew D. Baglino sold 10,500 shares of the business’s stock in a transaction that occurred on Tuesday, June 27th. The shares were sold at an average price of $243.13, for a total transaction of $2,552,865.00. Following the transaction, the senior vice president now owns 66,834 shares of the company’s stock, valued at approximately $16,249,350.42. The disclosure for this sale can be found here. Insiders sold a total of 55,815 shares of company stock valued at $14,384,135 over the last ninety days. Insiders own 20.90% of the company’s stock.

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. It 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, retail merchandise, and vehicle insurance services.