Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Quest Investment Management LLC

Quest Investment Management LLC trimmed its position in Tesla, Inc. (NASDAQ:TSLA) by 1.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 32,497 shares of the electric vehicle producer’s stock after selling 548 shares during the period. Quest Investment Management LLC’s holdings in Tesla were worth $6,431,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of TSLA. Frank Rimerman Advisors LLC boosted its stake in shares of Tesla by 1,125.7% in the second quarter. Frank Rimerman Advisors LLC now owns 31,427 shares of the electric vehicle producer’s stock worth $6,219,000 after acquiring an additional 28,863 shares during the last quarter. Holderness Investments Co. lifted its holdings in Tesla by 10.0% in the 2nd quarter. Holderness Investments Co. now owns 3,198 shares of the electric vehicle producer’s stock valued at $633,000 after purchasing an additional 290 shares in the last quarter. Circle Wealth Management LLC boosted its stake in Tesla by 50.9% during the 2nd quarter. Circle Wealth Management LLC now owns 21,318 shares of the electric vehicle producer’s stock worth $4,218,000 after purchasing an additional 7,193 shares during the last quarter. Merriman Wealth Management LLC grew its holdings in shares of Tesla by 5.8% during the second quarter. Merriman Wealth Management LLC now owns 13,349 shares of the electric vehicle producer’s stock worth $2,641,000 after buying an additional 728 shares in the last quarter. Finally, Symmetry Investments LP raised its position in shares of Tesla by 326.6% in the second quarter. Symmetry Investments LP now owns 8,536 shares of the electric vehicle producer’s stock valued at $1,689,000 after buying an additional 6,535 shares during the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Tesla Stock Down 2.3 %

Tesla stock opened at $238.25 on Friday. The firm has a market capitalization of $759.83 billion, a P/E ratio of 60.78, a P/E/G ratio of 6.00 and a beta of 2.29. The company has a current ratio of 1.91, a quick ratio of 1.40 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $271.00. The stock’s fifty day simple moving average is $221.30 and its 200-day simple moving average is $195.94.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results 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 company had revenue of $25.50 billion during the quarter, compared to analyst estimates of $24.38 billion. During the same period in the prior year, the business earned $0.78 EPS. Tesla’s revenue for the quarter was up 2.3% on a year-over-year basis. As a group, equities analysts expect that Tesla, Inc. will post 1.75 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on TSLA. Citigroup dropped their price objective on shares of Tesla from $274.00 to $258.00 and set a “neutral” rating for the company in a research note on Wednesday, July 24th. UBS Group lowered Tesla from a “neutral” rating to a “sell” rating and upped their price target for the company from $147.00 to $197.00 in a research report on Friday, July 12th. Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a research report on Wednesday, July 24th. KGI Securities restated a “neutral” rating and issued a $236.00 target price on shares of Tesla in a report on Thursday, July 25th. Finally, The Goldman Sachs Group reduced their price target on Tesla from $248.00 to $230.00 and set a “neutral” rating on the stock in a report on Wednesday, July 24th. Nine equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $209.60.

Insider Buying and Selling

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