Condor Capital Management Cuts Holdings in Tesla, Inc. (NASDAQ:TSLA)

Condor Capital Management decreased its position in Tesla, Inc. (NASDAQ:TSLA) by 4.6% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,907 shares of the electric vehicle producer’s stock after selling 92 shares during the period. Condor Capital Management’s holdings in Tesla were worth $377,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of TSLA. Bank & Trust Co bought a new stake in Tesla during the second quarter worth $25,000. Valley Wealth Managers Inc. bought a new stake in shares of Tesla during the 2nd quarter worth $26,000. OLD Point Trust & Financial Services N A purchased a new position in shares of Tesla in the 4th quarter worth about $37,000. Kessler Investment Group LLC grew its position in Tesla by 35.9% during the second quarter. Kessler Investment Group LLC now owns 193 shares of the electric vehicle producer’s stock valued at $38,000 after buying an additional 51 shares during the period. Finally, Aspect Partners LLC raised its position in Tesla by 121.3% in the second quarter. Aspect Partners LLC now owns 208 shares of the electric vehicle producer’s stock worth $41,000 after acquiring an additional 114 shares during the period. Institutional investors own 66.20% of the company’s stock.

Analyst Upgrades and Downgrades

TSLA has been the subject of a number of research reports. China Renaissance raised shares of Tesla from a “hold” rating to a “buy” rating and set a $290.00 target price for the company in a research report on Friday, July 5th. New Street Research lowered Tesla from a “buy” rating to a “neutral” rating and set a $225.00 target price on the stock. in a research note on Wednesday, July 24th. Royal Bank of Canada dropped their price target on Tesla from $227.00 to $224.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. TD Cowen boosted their price objective on Tesla from $160.00 to $180.00 and gave the company a “hold” rating in a research note on Wednesday, July 3rd. Finally, Sanford C. Bernstein reiterated an “underperform” rating and set a $120.00 target price on shares of Tesla in a research report on Monday, June 10th. Nine investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, Tesla currently has a consensus rating of “Hold” and a consensus price target of $209.60.

Tesla Price Performance

Shares of Tesla stock opened at $230.29 on Friday. The firm has a market capitalization of $735.69 billion, a PE ratio of 58.75, a price-to-earnings-growth ratio of 6.08 and a beta of 2.29. The company has a current ratio of 1.91, a quick ratio of 1.40 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $278.98. The business’s 50-day moving average price is $223.37 and its 200-day moving average price is $194.63.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). Tesla had a net margin of 13.00% and a return on equity of 10.41%. The business had revenue of $25.50 billion for the quarter, compared to the consensus estimate of $24.38 billion. During the same quarter in the previous year, the business earned $0.78 earnings per share. The firm’s revenue was up 2.3% on a year-over-year basis. Sell-side analysts forecast that Tesla, Inc. will post 1.75 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, SVP Xiaotong Zhu sold 297 shares of the business’s 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 completion of the sale, the senior vice president now owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Tesla news, SVP Xiaotong Zhu sold 297 shares of the business’s stock in a transaction that occurred 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 sale, the senior vice president now owns 67,491 shares in the company, valued at $14,967,479.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 value of $14,597,425.44. Following the sale, the director now directly owns 85,000 shares of the company’s stock, valued at approximately $18,696,600. The disclosure for this sale can be found here. 25.10% of the stock is currently owned by insiders.

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.