Gordian Capital Singapore Pte Ltd Trims Position in Tesla, Inc. (NASDAQ:TSLA)

Gordian Capital Singapore Pte Ltd lessened its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 46.2% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 15,546 shares of the electric vehicle producer’s stock after selling 13,332 shares during the quarter. Tesla accounts for 1.6% of Gordian Capital Singapore Pte Ltd’s portfolio, making the stock its 11th biggest holding. Gordian Capital Singapore Pte Ltd’s holdings in Tesla were worth $3,076,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of TSLA. Bank & Trust Co purchased a new stake in Tesla during the second quarter valued at $25,000. Valley Wealth Managers Inc. purchased a new stake in Tesla in the second quarter worth about $26,000. Abich Financial Wealth Management LLC increased its position in Tesla by 168.8% in 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. OLD Point Trust & Financial Services N A purchased a new stake in Tesla in the fourth quarter worth about $37,000. Finally, Kessler Investment Group LLC increased its position in Tesla by 35.9% in the second quarter. Kessler Investment Group LLC now owns 193 shares of the electric vehicle producer’s stock worth $38,000 after buying an additional 51 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Transactions at Tesla

In other news, Director Robyn M. Denholm sold 66,364 shares of the firm’s stock in a transaction on 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 completion of the sale, the director now owns 85,000 shares of the company’s stock, valued at approximately $18,696,600. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Tesla news, CFO Vaibhav Taneja sold 8,000 shares of Tesla stock in a transaction dated Monday, September 23rd. The stock was 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. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Robyn M. Denholm sold 66,364 shares of Tesla 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 sale, the director now directly owns 85,000 shares of the company’s stock, valued at approximately $18,696,600. The disclosure for this sale can be found here. Insiders sold 74,661 shares of company stock valued at $16,663,291 in the last quarter. 25.10% of the stock is currently owned by corporate insiders.

Tesla Trading Down 1.4 %

TSLA opened at $258.02 on Wednesday. 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 company has a market capitalization of $824.28 billion, a P/E ratio of 65.82, a PEG ratio of 7.08 and a beta of 2.29. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $271.00. The stock’s fifty day moving average is $222.33 and its two-hundred day moving average is $200.24.

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

Wall Street Analyst Weigh In

A number of analysts have commented on the company. HSBC upped their price target on Tesla from $120.00 to $130.00 in a research report on Wednesday, July 10th. Mizuho upped their price target on Tesla from $180.00 to $230.00 and gave the stock a “neutral” rating in a research report on Friday, July 12th. Stifel Nicolaus initiated coverage on Tesla in a research note on Tuesday, June 25th. They issued a “buy” rating and a $265.00 price objective for the company. Barclays dropped their price objective on Tesla from $225.00 to $220.00 and set an “equal weight” rating for the company in a research note on Thursday, July 25th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $295.00 price objective on shares of Tesla in a research note on Tuesday, September 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. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $209.90.

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.