Highland Capital Management LLC Has $4.28 Million Position in Tesla, Inc. (NASDAQ:TSLA)

Highland Capital Management LLC trimmed its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 13.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,350 shares of the electric vehicle producer’s stock after selling 2,483 shares during the quarter. Highland Capital Management LLC’s holdings in Tesla were worth $4,278,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the business. Bank & Trust Co bought a new position in Tesla during the 2nd quarter worth $25,000. Valley Wealth Managers Inc. acquired a new stake in shares of Tesla in the second quarter valued at about $26,000. Abich Financial Wealth Management LLC raised its position in shares of Tesla by 168.8% during the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after acquiring an additional 81 shares during the last quarter. Clean Yield Group lifted its stake in shares of 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 acquiring an additional 48 shares during the period. Finally, M&R Capital Management Inc. boosted its holdings in Tesla by 263.2% in the third quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock valued at $36,000 after acquiring an additional 100 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

Tesla Stock Up 3.3 %

TSLA stock opened at $269.19 on Friday. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $271.00. The stock has a market cap of $858.50 billion, a price-to-earnings ratio of 68.67, a price-to-earnings-growth ratio of 6.24 and a beta of 2.29. The company has a current ratio of 1.91, a quick ratio of 1.40 and a debt-to-equity ratio of 0.08. The company’s 50 day moving average is $229.47 and its 200 day moving average is $206.79.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.14. The company had revenue of $25.18 billion during the quarter, compared to the consensus estimate of $25.47 billion. Tesla had a net margin of 13.00% and a return on equity of 10.41%. The firm’s revenue was up 7.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.53 EPS. Sell-side analysts predict that Tesla, Inc. will post 1.75 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently issued reports on TSLA shares. Citigroup dropped their price target on shares of Tesla from $274.00 to $258.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 24th. China Renaissance raised shares of Tesla from a “hold” rating to a “buy” rating and set a $290.00 price target on the stock in a research report on Friday, July 5th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $295.00 price objective on shares of Tesla in a research report on Tuesday, September 10th. Wolfe Research began coverage on Tesla in a research report on Thursday, September 5th. They set a “peer perform” rating on the stock. Finally, Robert W. Baird reiterated an “outperform” rating and issued a $280.00 target price on shares of Tesla in a report on Tuesday, August 20th. Eight equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $219.00.

Insider Activity

In related news, CFO Vaibhav Taneja sold 8,000 shares of the business’s stock in a transaction that occurred 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 owns 105,032 shares in the company, valued at $26,258,000. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Tesla news, SVP Xiaotong Zhu sold 297 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $221.77, for a total transaction of $65,865.69. Following the completion of the sale, the senior vice president now directly owns 67,491 shares in the company, valued at $14,967,479.07. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Vaibhav Taneja sold 8,000 shares of Tesla stock in a transaction dated 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 transaction, the chief financial officer now owns 105,032 shares in the company, valued at approximately $26,258,000. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 25.10% of the company’s stock.

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.