CLARET ASSET MANAGEMENT Corp decreased its position in Tesla Inc (NASDAQ:TSLA) by 7.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,305 shares of the electric vehicle producer’s stock after selling 108 shares during the quarter. CLARET ASSET MANAGEMENT Corp’s holdings in Tesla were worth $314,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of TSLA. Clarus Wealth Advisors raised its holdings in Tesla by 83.3% in the second quarter. Clarus Wealth Advisors now owns 110 shares of the electric vehicle producer’s stock valued at $25,000 after acquiring an additional 50 shares in the last quarter. Trustcore Financial Services LLC raised its holdings in Tesla by 121.8% in the second quarter. Trustcore Financial Services LLC now owns 122 shares of the electric vehicle producer’s stock valued at $27,000 after acquiring an additional 67 shares in the last quarter. AllSquare Wealth Management LLC acquired a new stake in Tesla in the second quarter valued at approximately $28,000. Bedel Financial Consulting Inc. raised its holdings in Tesla by 197.7% in the second quarter. Bedel Financial Consulting Inc. now owns 128 shares of the electric vehicle producer’s stock valued at $29,000 after acquiring an additional 85 shares in the last quarter. Finally, HM Payson & Co. acquired a new stake in Tesla in the second quarter valued at approximately $30,000. 54.42% of the stock is currently owned by hedge funds and other institutional investors.
Shares of TSLA opened at $247.89 on Friday. The company has a current ratio of 1.06, a quick ratio of 0.71 and a debt-to-equity ratio of 1.71. The firm has a market cap of $44.40 billion, a PE ratio of -43.34 and a beta of 0.52. The company’s 50 day simple moving average is $233.20 and its 200-day simple moving average is $235.28. Tesla Inc has a 12-month low of $176.99 and a 12-month high of $379.49.
Several analysts recently weighed in on TSLA shares. Oppenheimer reduced their target price on shares of Tesla from $437.00 to $356.00 and set an “outperform” rating on the stock in a report on Thursday, July 25th. Piper Jaffray Companies set a $386.00 target price on shares of Tesla and gave the company a “buy” rating in a report on Thursday, September 26th. Roth Capital reaffirmed a “neutral” rating and issued a $238.00 target price on shares of Tesla in a report on Monday, July 22nd. Royal Bank of Canada reaffirmed a “sell” rating on shares of Tesla in a report on Thursday, October 3rd. Finally, Berenberg Bank reissued a “buy” rating on shares of Tesla in a report on Friday, June 14th. Eighteen research analysts have rated the stock with a sell rating, eight have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $266.76.
In other news, CFO Zachary Kirkhorn sold 150 shares of the firm’s stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $255.68, for a total transaction of $38,352.00. Following the transaction, the chief financial officer now directly owns 9,962 shares in the company, valued at $2,547,084.16. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Kathleen Wilson-Thompson bought 360 shares of the stock in a transaction dated Wednesday, August 14th. The shares were acquired at an average price of $221.71 per share, for a total transaction of $79,815.60. Following the completion of the transaction, the director now owns 360 shares of the company’s stock, valued at approximately $79,815.60. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 15,450 shares of company stock worth $3,565,073. Insiders own 24.40% of the company’s stock.
Tesla, Inc designs, develops, manufactures, and sells electric vehicles, and energy generation and storage systems in the United States, China, Netherlands, Norway, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers sedans and sport utility vehicles.
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