Goelzer Investment Management Inc. Trims Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Goelzer Investment Management Inc. lowered its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 1.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,968 shares of the electric vehicle producer’s stock after selling 125 shares during the quarter. Goelzer Investment Management Inc.’s holdings in Tesla were worth $3,131,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of TSLA. Vanguard Group Inc. increased its position in Tesla by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 233,602,120 shares of the electric vehicle producer’s stock valued at $41,064,917,000 after buying an additional 3,795,748 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of Tesla by 12.9% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,849,425 shares of the electric vehicle producer’s stock valued at $1,731,430,000 after acquiring an additional 1,125,329 shares in the last quarter. Strategic Financial Concepts LLC raised its position in shares of 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 purchasing an additional 5,875,484 shares during the last quarter. ARK Investment Management LLC boosted its stake in Tesla by 2.6% in the 2nd quarter. ARK Investment Management LLC now owns 5,314,395 shares of the electric vehicle producer’s stock worth $1,051,613,000 after purchasing an additional 135,966 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Tesla by 9.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,959,699 shares of the electric vehicle producer’s stock valued at $981,443,000 after purchasing an additional 412,872 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

Tesla Price Performance

Shares of Tesla stock traded up $9.42 during trading hours on Friday, hitting $250.08. The company’s stock had a trading volume of 86,726,285 shares, compared to its average volume of 81,772,848. The company has a market cap of $798.92 billion, a PE ratio of 63.80, a PEG ratio of 6.79 and a beta of 2.29. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.40 and a current ratio of 1.91. The business has a 50 day moving average price of $224.00 and a two-hundred day moving average price of $201.39. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $271.00.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.10). The business had revenue of $25.50 billion during the quarter, compared to the consensus estimate of $24.38 billion. Tesla had a return on equity of 10.41% and a net margin of 13.00%. The company’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.78 earnings per share. Analysts expect that Tesla, Inc. will post 1.74 earnings per share for the current fiscal year.

Insider Buying and Selling at Tesla

In other news, Director Robyn M. Denholm sold 66,364 shares of the firm’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the completion of the transaction, the director now owns 85,000 shares in the company, valued at $18,696,600. This trade 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 at the SEC website. In other news, Director Robyn M. Denholm sold 66,364 shares of the stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the completion of the transaction, the director now directly owns 85,000 shares in the company, valued at approximately $18,696,600. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Vaibhav Taneja sold 8,000 shares of the business’s stock in a transaction on 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 in the company, valued at $26,258,000. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 74,661 shares of company stock worth $16,663,291. Insiders own 25.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on TSLA. Glj Research reiterated a “sell” rating and issued a $24.86 target price on shares of Tesla in a research note on Thursday, September 26th. Robert W. Baird reaffirmed an “outperform” rating and issued a $280.00 price objective on shares of Tesla in a research report on Tuesday, August 20th. Oppenheimer reissued a “market perform” rating on shares of Tesla in a report on Tuesday, July 9th. Guggenheim upped their price target on Tesla from $134.00 to $153.00 and gave the company a “sell” rating in a report on Friday, September 13th. Finally, Wells Fargo & Company reiterated an “underweight” rating and issued a $120.00 price objective on shares of Tesla in a report on Monday, July 1st. Nine equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Tesla presently has an average rating of “Hold” and a consensus price target of $210.54.

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.