Stephens Inc. AR Sells 1,345 Shares of Tesla, Inc. $TSLA

by · The Markets Daily

Stephens Inc. AR cut its stake in Tesla, Inc. (NASDAQ:TSLA – Free Report) by 2.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 53,667 shares of the electric vehicle producer’s stock after selling 1,345 shares during the period. Stephens Inc. AR’s holdings in Tesla were worth $17,048,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Siren L.L.C. acquired a new position in Tesla during the 1st quarter valued at about $2,332,000. Zuckerman Investment Group LLC lifted its holdings in Tesla by 6.9% in the first quarter. Zuckerman Investment Group LLC now owns 12,748 shares of the electric vehicle producer’s stock valued at $3,304,000 after buying an additional 826 shares during the period. Keystone Global Partners LLC bought a new position in Tesla in the first quarter valued at approximately $594,000. Strs Ohio acquired a new stake in Tesla during the 1st quarter worth $205,495,000. Finally, IFM Investors Pty Ltd lifted its stake in shares of Tesla by 8.5% in the 1st quarter. IFM Investors Pty Ltd now owns 586,460 shares of the electric vehicle producer’s stock valued at $153,436,000 after purchasing an additional 46,087 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Stock Up 2.5%

Shares of TSLA stock opened at $439.31 on Monday. Tesla, Inc. has a 12-month low of $212.11 and a 12-month high of $488.54. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07. The firm has a fifty day moving average of $387.54 and a 200-day moving average of $334.06. The company has a market capitalization of $1.46 trillion, a price-to-earnings ratio of 253.94, a P/E/G ratio of 15.79 and a beta of 2.08.

Tesla (NASDAQ:TSLA – Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The electric vehicle producer reported $0.40 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.03). The company had revenue of $22.50 billion during the quarter, compared to the consensus estimate of $23.18 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. The company’s revenue was down 11.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.52 earnings per share. As a group, equities research analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, SVP Xiaotong Zhu sold 20,000 shares of Tesla stock in a transaction that occurred on 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 sale, the senior vice president owned 47,600 shares of the company’s stock, valued at approximately $17,314,500. This trade represents a 29.59% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James R. Murdoch sold 120,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $350.29, for a total value of $42,034,800.00. Following the transaction, the director directly owned 697,031 shares of the company’s stock, valued at approximately $244,162,988.99. This trade represents a 14.69% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 202,606 shares of company stock worth $75,588,902. 19.90% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

TSLA has been the subject of a number of analyst reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a research note on Thursday, July 24th. Robert W. Baird raised Tesla from a “neutral” rating to an “outperform” rating and upped their price target for the company from $320.00 to $548.00 in a research note on Friday, September 19th. Cantor Fitzgerald reissued an “overweight” rating and set a $355.00 price objective on shares of Tesla in a research note on Friday, October 3rd. JPMorgan Chase & Co. upped their target price on shares of Tesla from $115.00 to $150.00 in a research note on Friday, October 3rd. Finally, Melius Research set a $520.00 price target on shares of Tesla and gave the stock a “buy” rating in a research report on Monday, October 13th. 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 given a Sell rating to the company’s stock. According to data from MarketBeat.com, Tesla has an average rating of “Hold” and an average price target of $363.54.

View Our Latest Analysis on TSLA

Tesla Company Profile

(Free Report)

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.

Further Reading

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