Equita Financial Network Inc. Decreases Stock Holdings in Tesla, Inc. $TSLA

Equita Financial Network Inc. lowered its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 6.9% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 832 shares of the electric vehicle producer’s stock after selling 62 shares during the quarter. Equita Financial Network Inc.’s holdings in Tesla were worth $264,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in TSLA. Taylor Financial Group Inc. purchased a new position in shares of Tesla in the second quarter valued at about $238,000. IQ EQ FUND MANAGEMENT IRELAND Ltd boosted its holdings in shares of Tesla by 130.4% during the second quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 75,948 shares of the electric vehicle producer’s stock worth $24,126,000 after purchasing an additional 42,984 shares during the period. Advisory Alpha LLC grew its stake in shares of Tesla by 16.8% in the second quarter. Advisory Alpha LLC now owns 22,613 shares of the electric vehicle producer’s stock worth $7,183,000 after purchasing an additional 3,258 shares during the last quarter. Rossby Financial LCC increased its holdings in Tesla by 35.0% during the 2nd quarter. Rossby Financial LCC now owns 2,418 shares of the electric vehicle producer’s stock valued at $768,000 after purchasing an additional 627 shares during the period. Finally, SYM FINANCIAL Corp raised its position in Tesla by 42.0% during the 2nd quarter. SYM FINANCIAL Corp now owns 4,104 shares of the electric vehicle producer’s stock valued at $1,304,000 after purchasing an additional 1,213 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

Tesla Trading Up 4.3%

NASDAQ:TSLA opened at $452.42 on Tuesday. The firm has a market capitalization of $1.50 trillion, a P/E ratio of 301.61, a PEG ratio of 15.45 and a beta of 2.08. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.07 and a quick ratio of 1.67. Tesla, Inc. has a one year low of $214.25 and a one year high of $488.54. The company’s 50-day simple moving average is $400.41 and its 200 day simple moving average is $342.47.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, October 22nd. The electric vehicle producer reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.02. Tesla had a return on equity of 6.61% and a net margin of 5.51%.The company had revenue of $28.10 billion for the quarter, compared to the consensus estimate of $24.98 billion. During the same quarter in the prior year, the business posted $0.72 EPS. The firm’s quarterly revenue was up 11.6% compared to the same quarter last year. As a group, analysts forecast that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on TSLA shares. Deutsche Bank Aktiengesellschaft lifted their price objective on Tesla from $435.00 to $440.00 and gave the stock a “buy” rating in a research report on Thursday, October 23rd. Industrial Alliance Securities set a $300.00 price target on Tesla in a research note on Monday, October 13th. Wall Street Zen upgraded shares of Tesla from a “sell” rating to a “hold” rating in a report on Saturday. Needham & Company LLC restated a “hold” rating on shares of Tesla in a report on Thursday, October 23rd. Finally, Evercore ISI cut their target price on shares of Tesla from $300.00 to $235.00 in a research note on Friday. One analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, twelve have assigned a Hold rating and eleven have assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $381.00.

Insiders Place Their Bets

In other news, SVP Xiaotong Zhu sold 20,000 shares of the stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $363.75, for a total value of $7,275,000.00. Following the sale, the senior vice president directly owned 47,600 shares of the company’s stock, valued at approximately $17,314,500. This represents a 29.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Vaibhav Taneja sold 2,606 shares of the firm’s stock in a transaction on Monday, September 8th. The shares were sold at an average price of $352.38, for a total value of $918,302.28. Following the transaction, the chief financial officer owned 9,856 shares of the company’s stock, valued at $3,473,057.28. The trade was a 20.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 202,606 shares of company stock valued at $75,588,902. 19.90% of the stock is currently owned by corporate insiders.

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.