MJP Associates Inc. ADV Sells 179 Shares of Tesla, Inc. (NASDAQ:TSLA)

MJP Associates Inc. ADV cut its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 10.1% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,586 shares of the electric vehicle producer’s stock after selling 179 shares during the period. MJP Associates Inc. ADV’s holdings in Tesla were worth $415,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Alpha Paradigm Partners LLC bought a new position in shares of Tesla in the 3rd quarter worth $27,000. GW&K Investment Management LLC bought a new stake in shares of Tesla in the 1st quarter valued at about $30,000. St. Johns Investment Management Company LLC boosted its stake in Tesla by 451.9% during the 1st quarter. St. Johns Investment Management Company LLC now owns 149 shares of the electric vehicle producer’s stock worth $31,000 after acquiring an additional 122 shares during the last quarter. Worth Asset Management LLC acquired a new position in Tesla during the first quarter valued at approximately $111,000. Finally, Magellan Asset Management Ltd bought a new stake in shares of Tesla in the 1st quarter valued at $34,000. Institutional investors own 41.87% of the company’s stock.

Tesla Stock Performance

Shares of Tesla stock opened at $265.28 on Tuesday. Tesla, Inc. has a 52 week low of $101.81 and a 52 week high of $313.80. The company has a quick ratio of 1.07, a current ratio of 1.59 and a debt-to-equity ratio of 0.02. The business has a 50 day moving average price of $255.83 and a 200-day moving average price of $220.81. The company has a market cap of $842.00 billion, a PE ratio of 75.15, a price-to-earnings-growth ratio of 4.28 and a beta of 2.09.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, July 19th. The electric vehicle producer reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.22. Tesla had a net margin of 12.97% and a return on equity of 26.10%. The firm had revenue of $24.93 billion for the quarter, compared to the consensus estimate of $24.22 billion. During the same period in the previous year, the firm earned $0.65 EPS. The business’s revenue for the quarter was up 47.2% compared to the same quarter last year. Equities analysts anticipate that Tesla, Inc. will post 2.94 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. DZ Bank cut Tesla from a “buy” rating to a “sell” rating and set a $210.00 target price for the company. in a research note on Friday, June 23rd. Citigroup increased their price objective on Tesla from $215.00 to $278.00 and gave the stock a “neutral” rating in a report on Wednesday, July 12th. Guggenheim reiterated a “sell” rating and issued a $125.00 price objective on shares of Tesla in a report on Monday. Wedbush lifted their price target on shares of Tesla from $300.00 to $350.00 and gave the company an “outperform” rating in a research note on Thursday, July 20th. Finally, Mizuho upped their target price on Tesla from $300.00 to $330.00 in a research report on Thursday, July 20th. Six analysts have rated the stock with a sell rating, eighteen have given a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, Tesla presently has a consensus rating of “Hold” and a consensus price target of $239.43.

Insider Buying and Selling at Tesla

In other news, SVP Andrew D. Baglino sold 10,500 shares of the business’s stock in a transaction that occurred on Tuesday, June 27th. The stock was sold at an average price of $243.13, for a total value of $2,552,865.00. Following the transaction, the senior vice president now owns 66,834 shares in the company, valued at approximately $16,249,350.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, SVP Xiaotong Zhu sold 1,065 shares of the stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $249.62, for a total transaction of $265,845.30. Following the completion of the transaction, the senior vice president now owns 59,540 shares in the company, valued at $14,862,374.80. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Andrew D. Baglino sold 10,500 shares of the business’s stock in a transaction dated Tuesday, June 27th. The shares were sold at an average price of $243.13, for a total transaction of $2,552,865.00. Following the completion of the transaction, the senior vice president now owns 66,834 shares in the company, valued at $16,249,350.42. The disclosure for this sale can be found here. In the last 90 days, insiders sold 55,815 shares of company stock worth $14,384,135. Insiders own 20.90% 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. It 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, retail merchandise, and vehicle insurance services.