Koshinski Asset Management Inc. Reduces Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Koshinski Asset Management Inc. lessened its position in shares of Tesla, Inc. (NASDAQ:TSLAFree Report) by 10.3% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 22,384 shares of the electric vehicle producer’s stock after selling 2,570 shares during the quarter. Koshinski Asset Management Inc.’s holdings in Tesla were worth $5,856,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in TSLA. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in shares of Tesla by 60.2% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 549,008 shares of the electric vehicle producer’s stock valued at $108,638,000 after buying an additional 206,248 shares during the period. Morse Asset Management Inc raised its holdings in Tesla by 138.1% in the 2nd quarter. Morse Asset Management Inc now owns 5,969 shares of the electric vehicle producer’s stock worth $1,181,000 after purchasing an additional 3,462 shares during the period. Newbridge Financial Services Group Inc. raised its holdings in Tesla by 7.4% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 28,222 shares of the electric vehicle producer’s stock worth $7,013,000 after purchasing an additional 1,943 shares during the period. NewEdge Advisors LLC raised its holdings in Tesla by 12.9% in the 2nd quarter. NewEdge Advisors LLC now owns 236,802 shares of the electric vehicle producer’s stock worth $46,858,000 after purchasing an additional 27,130 shares during the period. Finally, Entropy Technologies LP acquired a new position in Tesla in the 1st quarter worth about $1,941,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Buying and Selling

In related news, CFO Vaibhav Taneja sold 8,000 shares of the firm’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $250.00, for a total value of $2,000,000.00. Following the completion of the sale, the chief financial officer now owns 105,032 shares in the company, valued at $26,258,000. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, SVP Xiaotong Zhu sold 297 shares of the firm’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the sale, the senior vice president now owns 67,491 shares in the company, valued at $14,967,479.07. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Vaibhav Taneja sold 8,000 shares of the firm’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the completion of the sale, the chief financial officer now owns 105,032 shares of the company’s stock, valued at approximately $26,258,000. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 74,661 shares of company stock valued at $16,663,291 over the last quarter. 20.70% of the stock is currently owned by insiders.

Tesla Stock Down 8.8 %

Tesla stock traded down $20.97 during midday trading on Friday, reaching $217.80. The company’s stock had a trading volume of 142,628,874 shares, compared to its average volume of 77,163,496. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $271.00. The company has a quick ratio of 1.40, a current ratio of 1.91 and a debt-to-equity ratio of 0.08. The company has a market cap of $695.79 billion, a P/E ratio of 61.18, a P/E/G ratio of 6.48 and a beta of 2.29. The business has a 50-day simple moving average of $225.43 and a 200-day simple moving average of $203.79.

Tesla (NASDAQ:TSLAGet Free Report) last issued its quarterly earnings data on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by ($0.10). The firm had revenue of $25.50 billion for the quarter, compared to analysts’ expectations of $24.38 billion. Tesla had a return on equity of 10.41% and a net margin of 13.00%. The business’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 business posted $0.78 EPS. On average, research analysts expect that Tesla, Inc. will post 1.75 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have commented on TSLA. Robert W. Baird reiterated an “outperform” rating and set a $280.00 price objective on shares of Tesla in a research note on Tuesday, August 20th. Citigroup cut their price objective on Tesla from $274.00 to $258.00 and set a “neutral” rating for the company in a research note on Wednesday, July 24th. Oppenheimer reiterated a “market perform” rating on shares of Tesla in a research note on Tuesday, October 8th. Wells Fargo & Company reiterated an “underweight” rating and set a $120.00 price objective on shares of Tesla in a research note on Monday, July 1st. Finally, Cantor Fitzgerald restated a “neutral” rating and issued a $245.00 price target on shares of Tesla in a research report on Monday, October 7th. Nine research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Tesla has an average rating of “Hold” and an average target price of $210.72.

Read Our Latest Research Report on Tesla

About Tesla

(Free Report)

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.

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