Evanson Asset Management LLC Trims Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Evanson Asset Management LLC lowered its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 3.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,302 shares of the electric vehicle producer’s stock after selling 287 shares during the quarter. Evanson Asset Management LLC’s holdings in Tesla were worth $2,434,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of TSLA. Vanguard Group Inc. increased its stake in Tesla by 1.7% during the first quarter. Vanguard Group Inc. now owns 233,602,120 shares of the electric vehicle producer’s stock worth $41,064,917,000 after acquiring an additional 3,795,748 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in Tesla by 12.9% in 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 buying an additional 1,125,329 shares during the period. Strategic Financial Concepts LLC lifted its position in Tesla by 21,816.0% during the second quarter. Strategic Financial Concepts LLC now owns 5,902,416 shares of the electric vehicle producer’s stock valued at $1,167,970,000 after buying an additional 5,875,484 shares in the last quarter. ARK Investment Management LLC grew its stake in Tesla by 2.6% during the second quarter. ARK Investment Management LLC now owns 5,314,395 shares of the electric vehicle producer’s stock worth $1,051,613,000 after buying an additional 135,966 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in shares of Tesla by 9.1% in the second quarter. Dimensional Fund Advisors LP now owns 4,959,699 shares of the electric vehicle producer’s stock worth $981,443,000 after acquiring an additional 412,872 shares in the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction 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 completion of the transaction, the senior vice president now owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Tesla news, SVP Xiaotong Zhu sold 297 shares of the business’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $221.77, for a total transaction of $65,865.69. Following the sale, the senior vice president now directly owns 67,491 shares in the company, valued at approximately $14,967,479.07. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction of $14,597,425.44. Following the completion of the transaction, the director now owns 85,000 shares of the company’s stock, valued at $18,696,600. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 74,661 shares of company stock valued at $16,663,291. Insiders own 25.10% of the company’s stock.

Tesla Price Performance

Shares of NASDAQ TSLA opened at $240.83 on Tuesday. 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 firm has a market capitalization of $768.05 billion, a PE ratio of 61.44, a P/E/G ratio of 6.79 and a beta of 2.29. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $271.00. The business’s fifty day moving average price is $224.00 and its two-hundred day moving average price is $201.78.

Tesla (NASDAQ:TSLA) last released 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). Tesla had a return on equity of 10.41% and a net margin of 13.00%. The firm had revenue of $25.50 billion during the quarter, compared to analyst estimates of $24.38 billion. During the same period last year, the business earned $0.78 EPS. The firm’s revenue was up 2.3% on a year-over-year basis. On average, research analysts expect that Tesla, Inc. will post 1.74 EPS for the current year.

Analysts Set New Price Targets

TSLA has been the subject of a number of research reports. Glj Research reaffirmed a “sell” rating and set a $24.86 price target on shares of Tesla in a research report on Thursday, September 26th. Argus reaffirmed a “buy” rating and issued a $286.00 target price on shares of Tesla in a research report on Friday, July 26th. Sanford C. Bernstein reiterated an “underperform” rating and set a $120.00 target price on shares of Tesla in a report on Thursday, October 3rd. Wells Fargo & Company restated an “underweight” rating and issued a $120.00 price target on shares of Tesla in a report on Monday, July 1st. Finally, Canaccord Genuity Group reissued a “buy” rating and set a $254.00 target price on shares of Tesla in a research report on Friday, September 13th. Nine equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $210.90.

Tesla 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.