Quad Cities Investment Group LLC Trims Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Quad Cities Investment Group LLC lessened its stake in Tesla, Inc. (NASDAQ:TSLA) by 6.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,502 shares of the electric vehicle producer’s stock after selling 300 shares during the period. Quad Cities Investment Group LLC’s holdings in Tesla were worth $1,178,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in TSLA. State Street Corp boosted its holdings in shares of Tesla by 0.7% in the first quarter. State Street Corp now owns 99,683,820 shares of the electric vehicle producer’s stock valued at $20,680,162,000 after acquiring an additional 685,454 shares during the period. Geode Capital Management LLC increased its stake in Tesla by 1.9% in the first quarter. Geode Capital Management LLC now owns 50,047,967 shares of the electric vehicle producer’s stock valued at $10,358,912,000 after purchasing an additional 938,216 shares during the period. FMR LLC grew its holdings in shares of Tesla by 3.9% during the first quarter. FMR LLC now owns 33,326,389 shares of the electric vehicle producer’s stock worth $6,913,893,000 after buying an additional 1,244,230 shares during the last quarter. Norges Bank acquired a new stake in Tesla during the 4th quarter worth approximately $3,459,540,000. Finally, Moneta Group Investment Advisors LLC lifted its holdings in shares of Tesla by 180,125.4% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 26,851,778 shares of the electric vehicle producer’s stock worth $3,307,602,000 after purchasing an additional 26,836,879 shares during the period. Hedge funds and other institutional investors own 41.87% of the company’s stock.

Insider Activity at Tesla

In other news, SVP Andrew D. Baglino sold 10,500 shares of the business’s stock in a transaction on Tuesday, June 27th. The shares were sold at an average price of $243.13, for a total transaction of $2,552,865.00. Following the transaction, the senior vice president now directly owns 66,834 shares of the company’s stock, valued at $16,249,350.42. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, SVP Andrew D. Baglino sold 10,500 shares of Tesla stock in a transaction on Tuesday, June 27th. The shares were sold at an average price of $243.13, for a total transaction of $2,552,865.00. Following the sale, the senior vice president now owns 66,834 shares of the company’s stock, valued at approximately $16,249,350.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Xiaotong Zhu sold 2,500 shares of the company’s stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $276.35, for a total transaction of $690,875.00. Following the completion of the transaction, the senior vice president now directly owns 62,938 shares of the company’s stock, valued at $17,392,916.30. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 55,815 shares of company stock worth $14,384,135. 20.90% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $275.00 target price on shares of Tesla in a report on Monday. Robert W. Baird upped their price objective on Tesla from $252.00 to $300.00 and gave the stock an “outperform” rating in a report on Monday, July 17th. TD Cowen upped their price target on shares of Tesla from $150.00 to $200.00 and gave the stock a “market perform” rating in a research note on Thursday, July 20th. Citigroup upped their target price on shares of Tesla from $215.00 to $278.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 12th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Tesla from $260.00 to $270.00 and gave the stock a “buy” rating in a research report on Monday, July 3rd. Six investment analysts have rated the stock with a sell rating, eighteen have issued a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $239.43.

Tesla Stock Performance

Tesla stock opened at $265.28 on Tuesday. The company has a market cap of $842.00 billion, a price-to-earnings ratio of 75.15, a price-to-earnings-growth ratio of 4.28 and a beta of 2.09. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.59 and a quick ratio of 1.07. Tesla, Inc. has a 12 month low of $101.81 and a 12 month high of $313.80. The stock’s 50-day moving average is $255.83 and its 200-day moving average is $220.81.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, July 19th. The electric vehicle producer reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.22. Tesla had a net margin of 12.97% and a return on equity of 26.10%. The business had revenue of $24.93 billion for the quarter, compared to the consensus estimate of $24.22 billion. During the same quarter last year, the firm posted $0.65 EPS. The business’s revenue for the quarter was up 47.2% compared to the same quarter last year. Equities analysts anticipate that Tesla, Inc. will post 2.94 earnings per share for the current year.

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. 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.