Patrick M Sweeney & Associates Inc. Decreases Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Patrick M Sweeney & Associates Inc. lessened its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 4.7% in the 3rd quarter, HoldingsChannel reports. The fund owned 1,836 shares of the electric vehicle producer’s stock after selling 90 shares during the period. Patrick M Sweeney & Associates Inc.’s holdings in Tesla were worth $480,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Bank & Trust Co acquired a new position in Tesla in the second quarter valued at approximately $25,000. Valley Wealth Managers Inc. acquired a new position in shares of Tesla in the 2nd quarter valued at $26,000. Abich Financial Wealth Management LLC boosted its holdings in Tesla by 168.8% during the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after buying an additional 81 shares in the last quarter. Clean Yield Group increased its holdings in Tesla by 60.0% in the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after buying an additional 48 shares in the last quarter. Finally, M&R Capital Management Inc. raised its position in shares of Tesla by 263.2% in the third quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock worth $36,000 after acquiring an additional 100 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Stock Performance

NASDAQ:TSLA opened at $213.65 on Thursday. The firm’s fifty day simple moving average is $228.54 and its 200-day simple moving average is $206.41. The company has a quick ratio of 1.40, a current ratio of 1.91 and a debt-to-equity ratio of 0.08. The stock has a market cap of $682.53 billion, a PE ratio of 60.01, a price-to-earnings-growth ratio of 6.24 and a beta of 2.29. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $271.00.

Tesla (NASDAQ:TSLA) last issued its 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 company had revenue of $25.50 billion for the quarter, compared to analyst estimates of $24.38 billion. During the same quarter in the previous year, the company posted $0.78 earnings per share. The company’s quarterly revenue was up 2.3% compared to the same quarter last year. Analysts expect that Tesla, Inc. will post 1.75 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

TSLA has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $295.00 price target on shares of Tesla in a report on Tuesday, September 10th. UBS Group lowered Tesla from a “neutral” rating to a “sell” rating and increased their target price for the company from $147.00 to $197.00 in a research report on Friday, July 12th. Argus reissued a “buy” rating and issued a $286.00 price target on shares of Tesla in a report on Friday, July 26th. KGI Securities reaffirmed a “neutral” rating and set a $236.00 price objective on shares of Tesla in a report on Thursday, July 25th. Finally, Robert W. Baird reiterated an “outperform” rating and issued a $280.00 target price on shares of Tesla in a research report on Tuesday, August 20th. Eight research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Tesla has a consensus rating of “Hold” and a consensus price target of $211.63.

Insider Buying and Selling

In related news, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction 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 completion of the transaction, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, CFO Vaibhav Taneja sold 8,000 shares of the stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $250.00, for a total value of $2,000,000.00. Following the sale, the chief financial officer now directly owns 105,032 shares in the company, valued at $26,258,000. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the transaction, the senior vice president now owns 67,491 shares of the company’s stock, valued at $14,967,479.07. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 20.70% 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. 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.