Financial Partners Group Inc Cuts Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Financial Partners Group Inc reduced its position in Tesla, Inc. (NASDAQ:TSLA) by 13.1% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,357 shares of the electric vehicle producer’s stock after selling 658 shares during the period. Financial Partners Group Inc’s holdings in Tesla were worth $862,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in TSLA. Norges Bank purchased a new stake in Tesla during the 4th quarter valued at $7,844,757,000. Vanguard Group Inc. boosted its position in Tesla by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 229,806,372 shares of the electric vehicle producer’s stock worth $57,102,287,000 after purchasing an additional 3,866,361 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its stake in shares of Tesla by 2,101.1% during the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,469,190 shares of the electric vehicle producer’s stock valued at $365,064,000 after purchasing an additional 1,402,443 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of Tesla by 12.9% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,849,425 shares of the electric vehicle producer’s stock valued at $1,731,430,000 after purchasing an additional 1,125,329 shares during the last quarter. Finally, Nikko Asset Management Americas Inc. lifted its stake in shares of Tesla by 60.2% in the 1st quarter. Nikko Asset Management Americas Inc. now owns 2,854,198 shares of the electric vehicle producer’s stock worth $501,654,000 after purchasing an additional 1,072,366 shares during the period. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

TSLA has been the topic of several recent research reports. Piper Sandler increased their price target on shares of Tesla from $205.00 to $300.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Mizuho lifted their price target on shares of Tesla from $180.00 to $230.00 and gave the company a “neutral” rating in a report on Friday, July 12th. Needham & Company LLC restated a “hold” rating on shares of Tesla in a research report on Wednesday, July 24th. Glj Research boosted their price target on Tesla from $22.86 to $24.86 and gave the stock a “sell” rating in a report on Tuesday, July 23rd. Finally, China Renaissance upgraded shares of Tesla from a “hold” rating to a “buy” rating and set a $290.00 price target on the stock in a report on Friday, July 5th. Nine investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $204.21.

Insider Buying and Selling

In other Tesla news, Director Robyn M. Denholm sold 66,364 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $219.96, for a total value of $14,597,425.44. Following the completion of the transaction, the director now directly owns 85,000 shares of the company’s stock, valued at $18,696,600. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Robyn M. Denholm sold 66,364 shares of the company’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $219.96, for a total value of $14,597,425.44. Following the completion of the transaction, the director now owns 85,000 shares of the company’s stock, valued at approximately $18,696,600. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Xiaotong Zhu sold 650 shares of the company’s stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $174.21, for a total value of $113,236.50. Following the transaction, the senior vice president now directly owns 65,155 shares of the company’s stock, valued at $11,350,652.55. The disclosure for this sale can be found here. 25.10% of the stock is owned by corporate insiders.

Tesla Stock Performance

TSLA traded up $1.98 during trading on Friday, reaching $216.12. 88,620,586 shares of the company’s stock were exchanged, compared to its average volume of 90,901,848. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.91 and a quick ratio of 1.40. The company’s fifty day simple moving average is $215.14 and its 200-day simple moving average is $190.99. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $278.98. The stock has a market capitalization of $689.25 billion, a P/E ratio of 55.13, a price-to-earnings-growth ratio of 5.22 and a beta of 2.31.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.10). The business had revenue of $25.50 billion during the quarter, compared to analysts’ expectations of $24.38 billion. Tesla had a net margin of 13.00% and a return on equity of 10.41%. Tesla’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.78 earnings per share. As a group, research analysts predict that Tesla, Inc. will post 1.79 earnings per share for the current fiscal 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.