Presidio Capital Management LLC Has $1.19 Million Position in Tesla, Inc. (NASDAQ:TSLA)

Presidio Capital Management LLC cut its stake in Tesla, Inc. (NASDAQ:TSLA) by 9.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,556 shares of the electric vehicle producer’s stock after selling 497 shares during the quarter. Tesla makes up 0.8% of Presidio Capital Management LLC’s portfolio, making the stock its 19th biggest holding. Presidio Capital Management LLC’s holdings in Tesla were worth $1,192,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Bank & Trust Co bought a new stake in Tesla in the second quarter worth approximately $25,000. Valley Wealth Managers Inc. bought a new position in shares of Tesla during the 2nd quarter valued at $26,000. Abich Financial Wealth Management LLC lifted its stake in shares of Tesla by 168.8% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock valued at $26,000 after purchasing an additional 81 shares during the last quarter. Clean Yield Group boosted its holdings in Tesla by 60.0% in the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after purchasing an additional 48 shares in the last quarter. Finally, M&R Capital Management Inc. increased its position in Tesla by 263.2% during the third quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock worth $36,000 after buying an additional 100 shares during the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Tesla Trading Up 2.9 %

Shares of Tesla stock opened at $296.91 on Friday. The stock has a market capitalization of $953.10 billion, a P/E ratio of 81.35, a price-to-earnings-growth ratio of 9.51 and a beta of 2.29. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $299.75. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08. The company has a 50-day simple moving average of $237.23 and a 200 day simple moving average of $213.07.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.14. The company had revenue of $25.18 billion during the quarter, compared to analyst estimates of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The company’s revenue was up 7.8% on a year-over-year basis. During the same quarter last year, the business posted $0.53 earnings per share. Research analysts expect that Tesla, Inc. will post 1.96 earnings per share for the current fiscal year.

Insider Buying and Selling at Tesla

In other news, CFO Vaibhav Taneja sold 8,000 shares of the firm’s stock in a transaction on Monday, September 23rd. The stock was 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 directly owns 105,032 shares in the company, valued at approximately $26,258,000. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, SVP Xiaotong Zhu sold 297 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the transaction, the senior vice president now directly owns 67,491 shares in the company, valued at $14,967,479.07. This trade represents a 0.00 % decrease in their position. The transaction 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 Tesla stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $250.00, for a total value of $2,000,000.00. Following the sale, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at approximately $26,258,000. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 76,797 shares of company stock worth $19,211,821. 20.70% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages have weighed in on TSLA. Wedbush reaffirmed an “outperform” rating and issued a $300.00 price target on shares of Tesla in a research report on Thursday, October 24th. Bank of America upped their target price on Tesla from $265.00 to $350.00 and gave the stock a “buy” rating in a research report on Thursday. Guggenheim lifted their price target on shares of Tesla from $153.00 to $156.00 and gave the company a “sell” rating in a research report on Thursday, October 24th. Citigroup lowered their target price on shares of Tesla from $274.00 to $258.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 24th. Finally, Needham & Company LLC restated a “hold” rating on shares of Tesla in a report on Thursday, October 24th. Eight analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $222.03.

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.