Park Place Capital Corp Sells 74 Shares of Tesla, Inc. (NASDAQ:TSLA)

Park Place Capital Corp cut its stake in Tesla, Inc. (NASDAQ:TSLA) by 12.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 510 shares of the electric vehicle producer’s stock after selling 74 shares during the quarter. Park Place Capital Corp’s holdings in Tesla were worth $133,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of TSLA. Bank & Trust Co bought a new stake in shares of Tesla during the second quarter worth $25,000. Clean Yield Group lifted its position in shares of Tesla by 60.0% during the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after purchasing an additional 48 shares during the last quarter. Abich Financial Wealth Management LLC increased its stake in shares of Tesla by 168.8% during the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock valued at $26,000 after buying an additional 81 shares during the period. Valley Wealth Managers Inc. purchased a new position in shares of Tesla during the second quarter valued at $26,000. Finally, M&R Capital Management Inc. increased its stake in shares of Tesla by 263.2% during the third quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock valued at $36,000 after buying an additional 100 shares during the period. 66.20% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Robyn M. Denholm sold 66,364 shares of the company’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 transaction, the director now owns 85,000 shares of the company’s stock, valued at $18,696,600. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director Robyn M. Denholm sold 66,364 shares of the company’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 transaction, the director now owns 85,000 shares of the company’s stock, valued at $18,696,600. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the transaction, 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 disclosure for this sale can be found here. Insiders have sold a total of 74,661 shares of company stock valued at $16,663,291 in the last quarter. Insiders own 25.10% of the company’s stock.

Tesla Stock Up 1.5 %

Shares of NASDAQ:TSLA opened at $244.50 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 business has a fifty day moving average of $224.18 and a two-hundred day moving average of $202.26. The stock has a market cap of $781.09 billion, a P/E ratio of 62.37, a PEG ratio of 6.80 and a beta of 2.29. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $271.00.

Tesla (NASDAQ:TSLA) last issued its earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate 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 analysts’ expectations of $24.38 billion. During the same quarter in the previous year, the company earned $0.78 earnings per share. The firm’s quarterly revenue was up 2.3% compared to the same quarter last year. On average, research analysts expect that Tesla, Inc. will post 1.75 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Needham & Company LLC restated a “hold” rating on shares of Tesla in a research note on Wednesday, July 24th. Wedbush reiterated an “outperform” rating and issued a $300.00 target price on shares of Tesla in a research note on Wednesday, July 24th. Guggenheim lifted their target price on Tesla from $134.00 to $153.00 and gave the company a “sell” rating in a research note on Friday, September 13th. Barclays cut their target price on Tesla from $225.00 to $220.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 25th. Finally, Truist Financial lifted their target price on Tesla from $215.00 to $236.00 and gave the company a “hold” rating in a research note on Thursday, October 3rd. Nine analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target 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.