Tesla, Inc. (NASDAQ:TSLA) Shares Sold by AGF Management Ltd.

AGF Management Ltd. cut its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 58.9% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,807 shares of the electric vehicle producer’s stock after selling 11,194 shares during the quarter. AGF Management Ltd.’s holdings in Tesla were worth $1,545,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. GEM Asset Management LLC purchased a new stake in shares of Tesla in the 2nd quarter valued at approximately $237,000. Spectrum Wealth Advisory Group LLC purchased a new stake in shares of Tesla in the 2nd quarter valued at approximately $204,000. Blue Square Asset Management LLC increased its position in shares of Tesla by 8.5% in the 2nd quarter. Blue Square Asset Management LLC now owns 26,177 shares of the electric vehicle producer’s stock valued at $5,180,000 after purchasing an additional 2,052 shares during the last quarter. Angeles Wealth Management LLC increased its position in shares of Tesla by 28.2% in the 2nd quarter. Angeles Wealth Management LLC now owns 7,288 shares of the electric vehicle producer’s stock valued at $1,442,000 after purchasing an additional 1,605 shares during the last quarter. Finally, MGO One Seven LLC increased its position in shares of Tesla by 4.4% in the 2nd quarter. MGO One Seven LLC now owns 28,658 shares of the electric vehicle producer’s stock valued at $5,671,000 after purchasing an additional 1,202 shares during the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Tesla

In related news, SVP Xiaotong Zhu sold 297 shares of the business’s stock in a transaction that occurred 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 directly owns 67,491 shares in the company, valued at $14,967,479.07. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Tesla news, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $221.77, for a total transaction of $65,865.69. Following the transaction, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at $14,967,479.07. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Robyn M. Denholm sold 66,364 shares of Tesla stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the transaction, the director now directly owns 85,000 shares in the company, valued at $18,696,600. The disclosure for this sale can be found here. 25.10% of the stock is owned by insiders.

Tesla Stock Performance

Shares of NASDAQ TSLA opened at $230.29 on Friday. The company has a market cap of $735.69 billion, a PE ratio of 58.75, a price-to-earnings-growth ratio of 6.08 and a beta of 2.29. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $278.98. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.91 and a quick ratio of 1.40. The company has a 50-day simple moving average of $223.37 and a 200-day simple moving average of $194.63.

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

Analyst Ratings Changes

TSLA has been the topic of a number of recent analyst reports. TD Cowen increased their price objective on shares of Tesla from $160.00 to $180.00 and gave the company a “hold” rating in a research report on Wednesday, July 3rd. KGI Securities reaffirmed a “neutral” rating and issued a $236.00 target price on shares of Tesla in a research report on Thursday, July 25th. Oppenheimer reaffirmed a “market perform” rating on shares of Tesla in a research report on Tuesday, July 9th. Stifel Nicolaus initiated coverage on shares of Tesla in a research report on Tuesday, June 25th. They issued a “buy” rating and a $265.00 target price on the stock. Finally, Sanford C. Bernstein reaffirmed an “underperform” rating and issued a $120.00 target price on shares of Tesla in a research report on Monday, June 10th. Nine investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Tesla presently has an average rating of “Hold” and a consensus target price of $209.60.

Tesla Company 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.