Moloney Securities Asset Management LLC Reduces Holdings in Tesla, Inc. (NASDAQ:TSLA)

Moloney Securities Asset Management LLC trimmed its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 13.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,917 shares of the electric vehicle producer’s stock after selling 754 shares during the period. Moloney Securities Asset Management LLC’s holdings in Tesla were worth $1,286,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of TSLA. Vanguard Group Inc. grew its stake in Tesla by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 233,602,120 shares of the electric vehicle producer’s stock worth $41,064,917,000 after acquiring an additional 3,795,748 shares during the period. International Assets Investment Management LLC grew its stake in Tesla by 35,611.2% in the 3rd quarter. International Assets Investment Management LLC now owns 11,054,391 shares of the electric vehicle producer’s stock worth $2,892,160,000 after acquiring an additional 11,023,436 shares during the period. Strategic Financial Concepts LLC grew its stake in Tesla by 21,816.0% in the 2nd quarter. Strategic Financial Concepts LLC now owns 5,902,416 shares of the electric vehicle producer’s stock worth $1,167,970,000 after acquiring an additional 5,875,484 shares during the period. ARK Investment Management LLC grew its stake in Tesla by 2.6% in the 2nd quarter. ARK Investment Management LLC now owns 5,314,395 shares of the electric vehicle producer’s stock worth $1,051,613,000 after acquiring an additional 135,966 shares during the period. Finally, National Pension Service grew its stake in Tesla by 15.3% in the 3rd quarter. National Pension Service now owns 5,182,657 shares of the electric vehicle producer’s stock worth $1,355,939,000 after acquiring an additional 688,717 shares during the period. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Kimbal Musk sold 60,500 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $250.23, for a total transaction of $15,138,915.00. Following the sale, the director now owns 1,563,220 shares in the company, valued at $391,164,540.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Kimbal Musk sold 60,500 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $250.23, for a total transaction of $15,138,915.00. Following the sale, the director now owns 1,563,220 shares in the company, valued at $391,164,540.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Vaibhav Taneja sold 8,000 shares of the company’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the completion of the transaction, the chief financial officer now owns 105,032 shares of the company’s stock, valued at approximately $26,258,000. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 76,797 shares of company stock worth $19,211,821 over the last quarter. 20.70% of the stock is owned by company insiders.

Tesla Stock Performance

Shares of Tesla stock opened at $251.44 on Wednesday. The firm has a market cap of $807.14 billion, a PE ratio of 68.89, a price-to-earnings-growth ratio of 8.01 and a beta of 2.29. The firm’s 50-day simple moving average is $235.57 and its 200-day simple moving average is $212.54. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $273.54.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. The business had revenue of $25.18 billion for the quarter, compared to analyst estimates of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The company’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.53 EPS. Equities analysts forecast that Tesla, Inc. will post 1.96 earnings per share for the current fiscal year.

Analysts Set New Price Targets

TSLA has been the subject of several recent analyst reports. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $245.00 target price on shares of Tesla in a research note on Wednesday, October 23rd. Argus reaffirmed a “buy” rating and issued a $286.00 target price on shares of Tesla in a research note on Friday, July 26th. Royal Bank of Canada lifted their price target on shares of Tesla from $236.00 to $249.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. StockNews.com upgraded shares of Tesla from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Finally, Piper Sandler lifted their price target on shares of Tesla from $310.00 to $315.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Eight research analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, Tesla has an average rating of “Hold” and a consensus target price of $219.45.

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. 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.