Y.D. More Investments Ltd Cuts Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Y.D. More Investments Ltd lessened its holdings in Tesla, Inc. (NASDAQ:TSLA) by 31.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,355 shares of the electric vehicle producer’s stock after selling 2,492 shares during the quarter. Y.D. More Investments Ltd’s holdings in Tesla were worth $1,402,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of TSLA. Lakewood Asset Management LLC purchased a new stake in shares of Tesla in the 4th quarter worth about $25,000. Alpha Paradigm Partners LLC acquired a new position in Tesla during the third quarter worth about $27,000. GW&K Investment Management LLC acquired a new stake in shares of Tesla in the first quarter valued at approximately $30,000. MayTech Global Investments LLC purchased a new position in shares of Tesla during the 4th quarter worth approximately $30,000. Finally, St. Johns Investment Management Company LLC raised its position in shares of Tesla by 451.9% during the 1st quarter. St. Johns Investment Management Company LLC now owns 149 shares of the electric vehicle producer’s stock worth $31,000 after purchasing an additional 122 shares during the last quarter. 41.87% of the stock is owned by hedge funds and other institutional investors.

Tesla Stock Performance

Shares of NASDAQ:TSLA opened at $265.28 on Tuesday. The business’s 50-day simple moving average is $255.83 and its 200 day simple moving average is $220.81. The company has a market cap of $842.00 billion, a P/E ratio of 75.15, a PEG ratio of 4.28 and a beta of 2.09. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.07 and a current ratio of 1.59. Tesla, Inc. has a one year low of $101.81 and a one year high of $313.80.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, July 19th. The electric vehicle producer reported $0.91 EPS for the quarter, topping the consensus estimate of $0.69 by $0.22. Tesla had a return on equity of 26.10% and a net margin of 12.97%. The business had revenue of $24.93 billion for the quarter, compared to analysts’ expectations of $24.22 billion. During the same quarter in the previous year, the firm posted $0.65 earnings per share. The company’s revenue was up 47.2% compared to the same quarter last year. On average, sell-side analysts forecast that Tesla, Inc. will post 2.94 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Zachary Kirkhorn sold 3,750 shares of Tesla stock in a transaction on Wednesday, July 5th. The shares were sold at an average price of $278.70, for a total value of $1,045,125.00. Following the completion of the sale, the chief financial officer now owns 197,540 shares in the company, valued at $55,054,398. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, SVP Andrew D. Baglino sold 10,500 shares of the business’s stock in a transaction that occurred on Tuesday, June 27th. The stock was sold at an average price of $243.13, for a total value of $2,552,865.00. Following the completion of the sale, the senior vice president now directly owns 66,834 shares in the company, valued at approximately $16,249,350.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Zachary Kirkhorn sold 3,750 shares of the firm’s stock in a transaction on Wednesday, July 5th. The stock was sold at an average price of $278.70, for a total value of $1,045,125.00. Following the transaction, the chief financial officer now owns 197,540 shares in the company, valued at $55,054,398. The disclosure for this sale can be found here. In the last three months, insiders sold 55,815 shares of company stock worth $14,384,135. 20.90% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Mizuho raised their price target on Tesla from $300.00 to $330.00 in a research report on Thursday, July 20th. Jefferies Financial Group raised their price target on shares of Tesla from $185.00 to $265.00 and gave the stock a “hold” rating in a research note on Monday, July 10th. Sanford C. Bernstein reissued an “underperform” rating and issued a $150.00 price objective on shares of Tesla in a research report on Thursday, July 20th. UBS Group initiated coverage on shares of Tesla in a research note on Tuesday, September 12th. They issued a “neutral” rating and a $290.00 target price for the company. Finally, Wedbush increased their price target on Tesla from $300.00 to $350.00 and gave the stock an “outperform” rating in a research note on Thursday, July 20th. Six investment analysts have rated the stock with a sell rating, eighteen have issued a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, Tesla has an average rating of “Hold” and an average target price of $239.43.

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. It 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, retail merchandise, and vehicle insurance services.