Hanlon Investment Management Inc. Reduces Holdings in Tesla, Inc. (NASDAQ:TSLA)

Hanlon Investment Management Inc. trimmed its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 12.3% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 890 shares of the electric vehicle producer’s stock after selling 125 shares during the quarter. Hanlon Investment Management Inc.’s holdings in Tesla were worth $233,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in Tesla by 60.2% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 549,008 shares of the electric vehicle producer’s stock worth $108,638,000 after buying an additional 206,248 shares during the period. Gladstone Institutional Advisory LLC boosted its stake in Tesla by 6.5% during the third quarter. Gladstone Institutional Advisory LLC now owns 43,377 shares of the electric vehicle producer’s stock worth $11,349,000 after buying an additional 2,664 shares during the period. Morse Asset Management Inc boosted its stake in shares of Tesla by 138.1% during the second quarter. Morse Asset Management Inc now owns 5,969 shares of the electric vehicle producer’s stock valued at $1,181,000 after purchasing an additional 3,462 shares during the period. Hennion & Walsh Asset Management Inc. boosted its stake in shares of Tesla by 34.1% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 4,166 shares of the electric vehicle producer’s stock valued at $1,087,000 after purchasing an additional 1,059 shares during the period. Finally, NewEdge Advisors LLC boosted its stake in shares of Tesla by 12.9% during the second quarter. NewEdge Advisors LLC now owns 236,802 shares of the electric vehicle producer’s stock valued at $46,858,000 after purchasing an additional 27,130 shares during the period. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Tesla

In other news, SVP Xiaotong Zhu sold 297 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $221.77, for a total transaction of $65,865.69. Following the completion of the transaction, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at $14,967,479.07. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, SVP Xiaotong Zhu sold 297 shares of the 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 completion of the transaction, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $250.00, for a total value of $1,000,000.00. Following the completion of the transaction, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at approximately $26,258,000. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 76,797 shares of company stock valued at $19,211,821 in the last three months. 20.70% of the stock is currently owned by company insiders.

Tesla Trading Up 3.5 %

Tesla stock opened at $251.44 on Wednesday. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $273.54. The stock’s 50 day simple moving average is $235.57 and its two-hundred day simple moving average is $212.54. The firm has a market cap of $807.14 billion, a PE ratio of 68.89, a P/E/G ratio of 8.01 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last announced its earnings results 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 business had revenue of $25.18 billion during the quarter, compared to the consensus estimate of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The business’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.53 EPS. Analysts anticipate that Tesla, Inc. will post 1.96 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Sanford C. Bernstein reissued an “underperform” rating and set a $120.00 target price on shares of Tesla in a research note on Thursday, October 3rd. The Goldman Sachs Group lifted their price objective on Tesla from $230.00 to $250.00 and gave the company a “neutral” rating in a report on Thursday, October 24th. Royal Bank of Canada lifted their price objective on Tesla from $236.00 to $249.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. New Street Research downgraded shares of Tesla from a “buy” rating to a “neutral” rating and set a $225.00 target price for the company. in a report on Wednesday, July 24th. Finally, Glj Research reiterated a “sell” rating and issued a $24.86 target price on shares of Tesla in a report on Thursday, October 17th. Eight research analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $219.45.

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.