Quilter Plc Sells 16,898 Shares of Tesla, Inc. (NASDAQ:TSLA)

Quilter Plc reduced its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 26.1% in the second quarter, according to its most recent filing with the SEC. The fund owned 47,852 shares of the electric vehicle producer’s stock after selling 16,898 shares during the quarter. Quilter Plc’s holdings in Tesla were worth $9,469,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. DDFG Inc increased its position in shares of Tesla by 7.1% during the 4th quarter. DDFG Inc now owns 1,065 shares of the electric vehicle producer’s stock valued at $265,000 after purchasing an additional 71 shares during the last quarter. Vantage Financial Partners LLC increased its position in Tesla by 6.4% during the fourth quarter. Vantage Financial Partners LLC now owns 5,763 shares of the electric vehicle producer’s stock valued at $1,432,000 after acquiring an additional 346 shares during the last quarter. Gilbert & Cook Inc. raised its stake in shares of Tesla by 8.7% in the fourth quarter. Gilbert & Cook Inc. now owns 13,511 shares of the electric vehicle producer’s stock valued at $3,357,000 after acquiring an additional 1,086 shares during the period. 9258 Wealth Management LLC lifted its holdings in shares of Tesla by 1.1% in the 4th quarter. 9258 Wealth Management LLC now owns 6,165 shares of the electric vehicle producer’s stock worth $1,532,000 after acquiring an additional 69 shares during the last quarter. Finally, Rollins Financial grew its holdings in Tesla by 10.2% during the 4th quarter. Rollins Financial now owns 120,416 shares of the electric vehicle producer’s stock valued at $29,921,000 after purchasing an additional 11,191 shares during the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have issued reports on TSLA shares. Truist Financial restated a “hold” rating and set a $215.00 target price on shares of Tesla in a research report on Wednesday, August 14th. Guggenheim boosted their price objective on Tesla from $134.00 to $153.00 and gave the company a “sell” rating in a report on Friday. Mizuho increased their target price on Tesla from $180.00 to $230.00 and gave the stock a “neutral” rating in a research note on Friday, July 12th. KGI Securities reissued a “neutral” rating and set a $236.00 target price on shares of Tesla in a research note on Thursday, July 25th. Finally, Glj Research reaffirmed a “sell” rating and issued a $24.86 price target on shares of Tesla in a research note on Thursday, September 5th. Nine analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $209.60.

Insider Buying and Selling

In other Tesla news, SVP Xiaotong Zhu sold 297 shares of the firm’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the transaction, the senior vice president now owns 67,491 shares of the company’s stock, valued at $14,967,479.07. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, Director Robyn M. Denholm sold 66,364 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $219.96, for a total value of $14,597,425.44. Following the sale, the director now owns 85,000 shares in the company, valued at $18,696,600. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Xiaotong Zhu sold 297 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $221.77, for a total transaction of $65,865.69. Following the transaction, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at $14,967,479.07. The disclosure for this sale can be found here. 25.10% of the stock is owned by company insiders.

Tesla Stock Performance

Shares of TSLA opened at $230.29 on Monday. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $278.98. The stock has a fifty day moving average price of $223.37 and a 200-day moving average price of $194.57. The company has a current ratio of 1.91, a quick ratio of 1.40 and a debt-to-equity ratio of 0.08. The firm has a market cap of $734.44 billion, a PE ratio of 58.75, a P/E/G ratio of 6.08 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.10). Tesla had a return on equity of 10.41% and a net margin of 13.00%. The business had revenue of $25.50 billion during the quarter, compared to analyst estimates of $24.38 billion. During the same period in the prior year, the business posted $0.78 EPS. Tesla’s revenue was up 2.3% compared to the same quarter last year. Equities research analysts predict that Tesla, Inc. will post 1.75 earnings per share for the current fiscal year.

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.