Stokes Family Office LLC Trims Position in Tesla, Inc. $TSLA

Stokes Family Office LLC decreased its holdings in Tesla, Inc. (NASDAQ:TSLA) by 22.6% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,292 shares of the electric vehicle producer’s stock after selling 962 shares during the quarter. Stokes Family Office LLC’s holdings in Tesla were worth $1,046,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Chelsea Counsel Co. increased its position in shares of Tesla by 59.7% during the first quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock valued at $28,000 after buying an additional 40 shares during the period. LGT Financial Advisors LLC purchased a new stake in shares of Tesla in the 2nd quarter worth approximately $29,000. Evergreen Private Wealth LLC increased its position in Tesla by 270.0% during the 2nd quarter. Evergreen Private Wealth LLC now owns 111 shares of the electric vehicle producer’s stock valued at $35,000 after buying an additional 81 shares in the last quarter. Graybill Wealth Management LTD. bought a new stake in Tesla in the first quarter worth $36,000. Finally, Pacific Center for Financial Services boosted its holdings in Tesla by 44.7% in the first quarter. Pacific Center for Financial Services now owns 149 shares of the electric vehicle producer’s stock worth $39,000 after acquiring an additional 46 shares in the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on TSLA. Wall Street Zen upgraded shares of Tesla from a “sell” rating to a “hold” rating in a research note on Saturday, October 25th. Canaccord Genuity Group decreased their price objective on shares of Tesla from $490.00 to $482.00 and set a “buy” rating for the company in a report on Thursday, October 23rd. Benchmark reiterated a “buy” rating on shares of Tesla in a research note on Thursday, October 23rd. Daiwa Capital Markets restated a “neutral” rating on shares of Tesla in a research note on Sunday, July 27th. Finally, Bank of America increased their price objective on Tesla from $341.00 to $471.00 and gave the company a “neutral” rating in a research report on Wednesday, October 29th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, thirteen have assigned a Hold rating and eleven have given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $391.08.

Tesla Stock Performance

NASDAQ:TSLA opened at $429.52 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.67 and a current ratio of 2.07. The stock has a 50-day simple moving average of $420.97 and a two-hundred day simple moving average of $354.73. The firm has a market capitalization of $1.43 trillion, a PE ratio of 286.35, a P/E/G ratio of 16.84 and a beta of 2.06. Tesla, Inc. has a 52-week low of $214.25 and a 52-week high of $488.54.

Tesla (NASDAQ:TSLA) last released its earnings results on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.02. The company had revenue of $28.10 billion during the quarter, compared to analyst estimates of $24.98 billion. Tesla had a net margin of 5.51% and a return on equity of 6.61%. The firm’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.72 EPS. Analysts forecast that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Transactions at Tesla

In related news, SVP Xiaotong Zhu sold 20,000 shares of Tesla stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the sale, the senior vice president owned 47,600 shares of the company’s stock, valued at approximately $17,314,500. This trade represents a 29.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Vaibhav Taneja sold 2,606 shares of the company’s stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $352.38, for a total value of $918,302.28. Following the completion of 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 SEC filing for this sale provides additional information. Insiders sold a total of 202,606 shares of company stock valued at $75,588,902 over the last 90 days. Company insiders own 19.90% of the company’s stock.

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.