Doliver Advisors LP Reduces Position in Tesla, Inc. $TSLA

Doliver Advisors LP lessened its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 8.7% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,852 shares of the electric vehicle producer’s stock after selling 272 shares during the quarter. Doliver Advisors LP’s holdings in Tesla were worth $906,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Acorn Wealth Advisors LLC raised its stake in Tesla by 1.9% during the first quarter. Acorn Wealth Advisors LLC now owns 1,901 shares of the electric vehicle producer’s stock valued at $493,000 after buying an additional 36 shares in the last quarter. Solutions 4 Wealth Ltd raised its stake in Tesla by 2.0% during the first quarter. Solutions 4 Wealth Ltd now owns 1,815 shares of the electric vehicle producer’s stock valued at $470,000 after buying an additional 36 shares in the last quarter. Capital Management Associates Inc raised its stake in Tesla by 3.4% during the first quarter. Capital Management Associates Inc now owns 1,166 shares of the electric vehicle producer’s stock valued at $302,000 after buying an additional 38 shares in the last quarter. Graney & King LLC raised its stake in Tesla by 18.4% during the first quarter. Graney & King LLC now owns 245 shares of the electric vehicle producer’s stock valued at $63,000 after buying an additional 38 shares in the last quarter. Finally, Mraz Amerine & Associates Inc. raised its stake in Tesla by 3.8% during the first quarter. Mraz Amerine & Associates Inc. now owns 1,054 shares of the electric vehicle producer’s stock valued at $278,000 after buying an additional 39 shares in the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Tesla Stock Performance

Shares of TSLA stock opened at $395.94 on Friday. Tesla, Inc. has a 12-month low of $212.11 and a 12-month high of $488.54. The firm has a market capitalization of $1.28 trillion, a price-to-earnings ratio of 228.87, a price-to-earnings-growth ratio of 12.87 and a beta of 2.06. The business has a 50 day simple moving average of $328.89 and a 200 day simple moving average of $303.48. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). Tesla had a return on equity of 7.98% and a net margin of 6.54%.The business had revenue of $22.50 billion during the quarter, compared to the consensus estimate of $23.18 billion. During the same period last year, the company earned $0.52 earnings per share. The business’s quarterly revenue was down 11.8% compared to the same quarter last year. On average, equities research analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have issued reports on TSLA. Mizuho cut their price objective on Tesla from $390.00 to $375.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 8th. Royal Bank Of Canada restated an “overweight” rating on shares of Tesla in a research note on Tuesday, July 29th. Guggenheim reiterated a “sell” rating and set a $175.00 price target on shares of Tesla in a research report on Wednesday, July 23rd. Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a research report on Thursday, July 24th. Finally, The Goldman Sachs Group reiterated a “neutral” rating on shares of Tesla in a research report on Sunday, August 17th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, fourteen have assigned a Hold rating and nine have given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $303.00.

Insider Buying and Selling

In related news, Director James R. Murdoch sold 120,000 shares of the stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $350.29, for a total value of $42,034,800.00. Following the completion of the transaction, the director directly owned 697,031 shares of the company’s stock, valued at $244,162,988.99. This represents a 14.69% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $292.89, for a total value of $1,171,560.00. Following the completion of the transaction, the chief financial officer directly owned 5,924 shares of the company’s stock, valued at $1,735,080.36. This trade represents a 40.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 148,606 shares of company stock valued at $51,999,662 in the last three months. 20.70% of the stock is currently owned by corporate 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.