STF Management LP Sells 1,252 Shares of Tesla, Inc. (NASDAQ:TSLA)

STF Management LP cut its position in Tesla, Inc. (NASDAQ:TSLA) by 4.0% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 29,742 shares of the electric vehicle producer’s stock after selling 1,252 shares during the period. Tesla accounts for 2.5% of STF Management LP’s investment portfolio, making the stock its 10th largest holding. STF Management LP’s holdings in Tesla were worth $5,885,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of TSLA. Bank & Trust Co acquired a new position in shares of Tesla during the 2nd quarter worth about $25,000. Valley Wealth Managers Inc. acquired a new stake in Tesla during the second quarter worth approximately $26,000. OLD Point Trust & Financial Services N A purchased a new stake in shares of Tesla during the 4th quarter worth approximately $37,000. Kessler Investment Group LLC boosted its holdings in shares of Tesla by 35.9% in the 2nd quarter. Kessler Investment Group LLC now owns 193 shares of the electric vehicle producer’s stock valued at $38,000 after buying an additional 51 shares in the last quarter. Finally, Aspect Partners LLC grew its position in shares of Tesla by 121.3% in the 2nd quarter. Aspect Partners LLC now owns 208 shares of the electric vehicle producer’s stock valued at $41,000 after buying an additional 114 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Tesla

In other Tesla news, Director Robyn M. Denholm sold 66,364 shares of the business’s stock in a transaction 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 in the company, valued at approximately $18,696,600. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Tesla news, SVP Xiaotong Zhu sold 297 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the sale, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Robyn M. Denholm sold 66,364 shares of the company’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the transaction, the director now directly owns 85,000 shares of the company’s stock, valued at approximately $18,696,600. The disclosure for this sale can be found here. Insiders own 25.10% of the company’s stock.

Tesla Stock Performance

Tesla stock opened at $230.29 on Monday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.40 and a current ratio of 1.91. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $278.98. The stock has a fifty day moving average of $223.37 and a two-hundred day moving average of $194.57. The company has a market capitalization of $734.44 billion, a price-to-earnings ratio of 58.75, a PEG ratio of 6.08 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last announced its earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.10). Tesla had a net margin of 13.00% and a return on equity of 10.41%. The firm had revenue of $25.50 billion during the quarter, compared to analyst estimates of $24.38 billion. During the same period in the previous year, the firm posted $0.78 EPS. The company’s revenue for the quarter was up 2.3% compared to the same quarter last year. On average, analysts anticipate that Tesla, Inc. will post 1.75 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have issued reports on TSLA. Roth Mkm restated a “neutral” rating and issued a $85.00 price objective on shares of Tesla in a research note on Wednesday, July 24th. Robert W. Baird restated an “outperform” rating and set a $280.00 price target on shares of Tesla in a research note on Tuesday, August 20th. Piper Sandler reiterated an “overweight” rating and issued a $300.00 price objective on shares of Tesla in a research note on Monday, August 19th. KGI Securities restated a “neutral” rating and set a $236.00 target price on shares of Tesla in a research report on Thursday, July 25th. Finally, Sanford C. Bernstein reiterated an “underperform” rating and issued a $120.00 price target on shares of Tesla in a research report on Monday, June 10th. Nine analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Tesla presently has an average rating of “Hold” and a consensus price target of $209.60.

Tesla 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.