Malaga Cove Capital LLC Sells 9,782 Shares of Tesla, Inc. (NASDAQ:TSLA)

Malaga Cove Capital LLC cut its holdings in Tesla, Inc. (NASDAQ:TSLA) by 41.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,931 shares of the electric vehicle producer’s stock after selling 9,782 shares during the period. Tesla makes up 1.5% of Malaga Cove Capital LLC’s portfolio, making the stock its 15th largest position. Malaga Cove Capital LLC’s holdings in Tesla were worth $3,645,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. International Assets Investment Management LLC raised its stake in shares of Tesla by 35,611.2% during the third quarter. International Assets Investment Management LLC now owns 11,054,391 shares of the electric vehicle producer’s stock valued at $2,892,160,000 after acquiring an additional 11,023,436 shares during the last quarter. Clean Energy Transition LLP increased its holdings in Tesla by 347.7% during the 2nd quarter. Clean Energy Transition LLP now owns 4,818,600 shares of the electric vehicle producer’s stock valued at $953,505,000 after purchasing an additional 6,764,300 shares during the period. Strategic Financial Concepts LLC lifted its holdings 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 buying an additional 5,875,484 shares during the period. Vanguard Group Inc. grew its position in shares of 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 buying an additional 3,795,748 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of Tesla by 236.8% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,104,010 shares of the electric vehicle producer’s stock valued at $416,341,000 after buying an additional 1,479,378 shares during the period. 66.20% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on TSLA shares. Wolfe Research assumed coverage on shares of Tesla in a report on Thursday, September 5th. They issued a “peer perform” rating on the stock. Wells Fargo & Company boosted their price target on shares of Tesla from $120.00 to $125.00 and gave the company an “underweight” rating in a research report on Thursday, October 24th. Mizuho lifted their price objective on Tesla from $180.00 to $230.00 and gave the company a “neutral” rating in a research report on Friday, July 12th. StockNews.com raised Tesla from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Finally, Canaccord Genuity Group upped their price target on Tesla from $254.00 to $278.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Eight investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $219.45.

Tesla Trading Up 14.8 %

Tesla stock opened at $288.53 on Thursday. The business has a 50-day simple moving average of $237.23 and a two-hundred day simple moving average of $213.07. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08. The company has a market cap of $926.20 billion, a P/E ratio of 79.05, a P/E/G ratio of 8.01 and a beta of 2.29. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $289.59.

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

Insider Activity at Tesla

In other news, CFO Vaibhav Taneja sold 4,000 shares of the company’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $251.76, for a total value of $1,007,040.00. Following the completion of the transaction, the chief financial officer now owns 105,032 shares of the company’s stock, valued at $26,442,856.32. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Tesla news, Director Kimbal Musk sold 60,500 shares of the business’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $250.23, for a total value 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. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Vaibhav Taneja sold 4,000 shares of the firm’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $251.76, for a total value of $1,007,040.00. Following the transaction, the chief financial officer now owns 105,032 shares of the company’s stock, valued at approximately $26,442,856.32. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 76,797 shares of company stock worth $19,211,821. 20.70% of the stock is owned by corporate insiders.

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.