Corps Capital Advisors LLC Trims Position in Tesla, Inc. $TSLA

Corps Capital Advisors LLC lessened its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 76.0% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,209 shares of the electric vehicle producer’s stock after selling 3,831 shares during the period. Corps Capital Advisors LLC’s holdings in Tesla were worth $384,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. raised its holdings in shares of Tesla by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer’s stock worth $63,983,418,000 after acquiring an additional 3,694,524 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of Tesla by 322.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer’s stock worth $6,891,201,000 after acquiring an additional 20,291,139 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of Tesla by 4.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 18,174,941 shares of the electric vehicle producer’s stock worth $4,710,218,000 after acquiring an additional 849,091 shares during the period. Amundi raised its holdings in shares of Tesla by 29.4% during the 1st quarter. Amundi now owns 16,771,882 shares of the electric vehicle producer’s stock worth $4,482,789,000 after acquiring an additional 3,814,610 shares during the period. Finally, Invesco Ltd. raised its holdings in Tesla by 17.6% in the 1st quarter. Invesco Ltd. now owns 14,786,414 shares of the electric vehicle producer’s stock valued at $3,832,047,000 after buying an additional 2,211,300 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on TSLA. Stifel Nicolaus set a $483.00 price objective on shares of Tesla and gave the company a “buy” rating in a report on Wednesday, October 8th. Wedbush restated an “outperform” rating and issued a $600.00 price objective on shares of Tesla in a report on Monday, October 20th. Morgan Stanley restated an “overweight” rating on shares of Tesla in a report on Wednesday, October 15th. Melius Research set a $520.00 price objective on shares of Tesla and gave the company a “buy” rating in a report on Monday, October 13th. Finally, Mizuho boosted their price objective on shares of Tesla from $450.00 to $485.00 and gave the company an “outperform” rating in a report on Thursday, October 23rd. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, twelve have issued a Hold rating and eleven have assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $391.08.

Insider Transactions at Tesla

In other news, Director James R. Murdoch sold 120,000 shares of the business’s stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $350.29, for a total transaction 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 approximately $244,162,988.99. The trade was a 14.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Xiaotong Zhu sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the completion of the sale, the senior vice president directly owned 47,600 shares in the company, valued at approximately $17,314,500. This trade represents a 29.59% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 202,606 shares of company stock valued at $75,588,902. 19.90% of the stock is currently owned by corporate insiders.

Tesla Stock Performance

NASDAQ TSLA opened at $444.26 on Wednesday. The company has a market cap of $1.48 trillion, a P/E ratio of 296.17, a P/E/G ratio of 16.84 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. The stock has a 50-day moving average of $414.80 and a two-hundred day moving average of $351.91. Tesla, Inc. has a 1-year low of $214.25 and a 1-year high of $488.54.

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