Tesla, Inc. $TSLA Stake Lowered by Presidio Capital Management LLC

by · The Markets Daily

Presidio Capital Management LLC trimmed its holdings in Tesla, Inc. (NASDAQ:TSLA – Free Report) by 8.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,971 shares of the electric vehicle producer’s stock after selling 366 shares during the quarter. Tesla comprises 0.5% of Presidio Capital Management LLC’s portfolio, making the stock its 22nd largest holding. Presidio Capital Management LLC’s holdings in Tesla were worth $1,261,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Means Investment CO. Inc. lifted its position in shares of Tesla by 37.7% in the first quarter. Means Investment CO. Inc. now owns 23,089 shares of the electric vehicle producer’s stock worth $5,984,000 after buying an additional 6,323 shares during the last quarter. Focus Financial Network Inc. boosted its holdings in shares of Tesla by 3.1% in the 1st quarter. Focus Financial Network Inc. now owns 22,467 shares of the electric vehicle producer’s stock worth $5,823,000 after acquiring an additional 670 shares in the last quarter. Siren L.L.C. acquired a new position in Tesla during the 1st quarter worth $2,332,000. Zuckerman Investment Group LLC raised its position in shares of Tesla by 6.9% during the 1st quarter. Zuckerman Investment Group LLC now owns 12,748 shares of the electric vehicle producer’s stock valued at $3,304,000 after acquiring an additional 826 shares during the last quarter. Finally, Keystone Global Partners LLC bought a new stake in shares of Tesla during the 1st quarter valued at $594,000. 66.20% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

TSLA has been the subject of a number of recent research reports. William Blair restated a “market perform” rating on shares of Tesla in a research note on Friday, September 5th. Morgan Stanley restated an “overweight” rating and set a $410.00 price objective on shares of Tesla in a research report on Friday, September 5th. Guggenheim reaffirmed a “sell” rating and set a $175.00 target price on shares of Tesla in a report on Wednesday, July 23rd. Royal Bank Of Canada reissued an “overweight” rating on shares of Tesla in a research note on Tuesday, July 29th. Finally, Piper Sandler restated an “overweight” rating and issued a $400.00 target price on shares of Tesla in a research report on Tuesday, June 10th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, fourteen have given a Hold rating and nine have given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $303.00.

Get Our Latest Report on TSLA

Insiders Place Their Bets

In other Tesla news, CFO Vaibhav Taneja sold 2,606 shares of Tesla stock in a transaction dated Monday, September 8th. The shares were 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 directly owned 9,856 shares of the company’s stock, valued at approximately $3,473,057.28. The trade was a 20.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Xiaotong Zhu sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the transaction, the senior vice president directly owned 47,600 shares of the company’s stock, valued at $17,314,500. The trade was a 29.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 148,606 shares of company stock valued at $51,999,662 in the last quarter. Insiders own 20.70% of the company’s stock.

Tesla Stock Up 3.6%

Tesla stock opened at $410.04 on Tuesday. Tesla, Inc. has a twelve month low of $212.11 and a twelve month high of $488.54. The firm has a 50 day moving average price of $331.21 and a 200-day moving average price of $304.53. The company has a market capitalization of $1.32 trillion, a P/E ratio of 237.02, a P/E/G ratio of 13.81 and a beta of 2.06. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07.

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

Tesla 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.

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