Saxony Capital Management LLC Sells 721 Shares of Tesla, Inc. (NASDAQ:TSLA)

Saxony Capital Management LLC reduced its position in Tesla, Inc. (NASDAQ:TSLA) by 14.3% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 4,315 shares of the electric vehicle producer’s stock after selling 721 shares during the quarter. Tesla comprises about 1.0% of Saxony Capital Management LLC’s portfolio, making the stock its 29th largest holding. Saxony Capital Management LLC’s holdings in Tesla were worth $1,129,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in TSLA. Bank & Trust Co acquired a new stake in Tesla in the second quarter valued at about $25,000. Clean Yield Group boosted its stake in shares of Tesla by 60.0% in the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after purchasing an additional 48 shares in the last quarter. Abich Financial Wealth Management LLC grew its holdings in shares of Tesla by 168.8% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock valued at $26,000 after purchasing an additional 81 shares during the last quarter. Valley Wealth Managers Inc. acquired a new position in Tesla during the 2nd quarter worth approximately $26,000. Finally, M&R Capital Management Inc. lifted its stake in Tesla by 263.2% in the 3rd quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock valued at $36,000 after purchasing an additional 100 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Tesla

In other news, CFO Vaibhav Taneja sold 8,000 shares of the stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $250.00, for a total value of $2,000,000.00. Following the completion of the sale, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at $26,258,000. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, SVP Xiaotong Zhu sold 297 shares of the company’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 sale, the senior vice president now owns 67,491 shares in the company, valued at $14,967,479.07. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Vaibhav Taneja sold 8,000 shares of the stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the completion of the sale, the chief financial officer now owns 105,032 shares of the company’s stock, valued at approximately $26,258,000. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 74,661 shares of company stock worth $16,663,291. Insiders own 25.10% of the company’s stock.

Tesla Price Performance

Shares of TSLA opened at $217.97 on Wednesday. The business’s fifty day moving average is $228.30 and its 200 day moving average is $206.36. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $271.00. 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 $695.15 billion, a P/E ratio of 55.60, a P/E/G ratio of 6.31 and a beta of 2.29.

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

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on TSLA. Morgan Stanley reiterated an “overweight” rating and set a $310.00 price target on shares of Tesla in a report on Thursday, October 3rd. TD Cowen increased their target price on Tesla from $160.00 to $180.00 and gave the company a “hold” rating in a research report on Wednesday, July 3rd. Mizuho boosted their price target on Tesla from $180.00 to $230.00 and gave the stock a “neutral” rating in a report on Friday, July 12th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $230.00 price objective on shares of Tesla in a report on Friday, October 11th. Finally, Wedbush reissued an “outperform” rating and set a $300.00 target price on shares of Tesla in a report on Wednesday, July 24th. Nine analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $211.63.

About Tesla

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.