Marco Investment Management LLC Sells 36 Shares of Tesla, Inc. (NASDAQ:TSLA)

Marco Investment Management LLC cut its stake in Tesla, Inc. (NASDAQ:TSLA) by 0.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,084 shares of the electric vehicle producer’s stock after selling 36 shares during the quarter. Marco Investment Management LLC’s holdings in Tesla were worth $4,731,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Oppenheimer & Co. Inc. increased its holdings in shares of Tesla by 1.2% in the third quarter. Oppenheimer & Co. Inc. now owns 144,482 shares of the electric vehicle producer’s stock worth $37,801,000 after acquiring an additional 1,741 shares in the last quarter. Tyler Stone Wealth Management boosted its holdings in shares of Tesla by 109.6% in the third quarter. Tyler Stone Wealth Management now owns 9,425 shares of the electric vehicle producer’s stock valued at $2,466,000 after buying an additional 4,929 shares during the period. Savvy Advisors Inc. increased its position in shares of Tesla by 24.2% during the third quarter. Savvy Advisors Inc. now owns 7,527 shares of the electric vehicle producer’s stock worth $1,969,000 after acquiring an additional 1,467 shares in the last quarter. Blackhawk Capital Partners LLC. raised its stake in shares of Tesla by 102.0% in the 3rd quarter. Blackhawk Capital Partners LLC. now owns 5,598 shares of the electric vehicle producer’s stock valued at $1,465,000 after purchasing an additional 2,827 shares during the period. Finally, ICICI Prudential Asset Management Co Ltd raised its position in Tesla by 19.0% in the 3rd quarter. ICICI Prudential Asset Management Co Ltd now owns 24,440 shares of the electric vehicle producer’s stock valued at $6,394,000 after buying an additional 3,909 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Glj Research reiterated a “sell” rating and issued a $24.86 price objective on shares of Tesla in a report on Thursday, October 17th. Truist Financial upped their price objective on shares of Tesla from $236.00 to $238.00 and gave the company a “hold” rating in a report on Thursday, October 24th. Roth Mkm reissued a “neutral” rating and set a $85.00 price target on shares of Tesla in a research report on Friday, October 11th. Phillip Securities downgraded Tesla from a “moderate sell” rating to a “strong sell” rating in a research report on Wednesday, November 13th. Finally, KGI Securities upgraded Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 price target on the stock in a research report on Thursday, October 24th. Nine 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 stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $230.18.

Insider Activity

In related news, CFO Vaibhav Taneja sold 8,000 shares of the 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 transaction, the chief financial officer now directly owns 105,032 shares in the company, valued at $26,258,000. This trade represents a 7.08 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Xiaotong Zhu sold 297 shares of the business’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $221.77, for a total transaction of $65,865.69. Following the sale, the senior vice president now owns 67,491 shares of the company’s stock, valued at $14,967,479.07. This trade represents a 0.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 301,187 shares of company stock worth $92,956,692 in the last three months. Company insiders own 20.70% of the company’s stock.

Tesla Stock Up 3.8 %

Shares of NASDAQ:TSLA opened at $352.56 on Friday. The business has a fifty day simple moving average of $264.07 and a 200 day simple moving average of $226.43. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $361.53. The firm has a market cap of $1.13 trillion, a P/E ratio of 96.59, a P/E/G ratio of 11.03 and a beta of 2.29. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.14. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The firm had revenue of $25.18 billion during the quarter, compared to analyst estimates of $25.47 billion. During the same quarter last year, the business earned $0.53 EPS. The company’s revenue was up 7.8% compared to the same quarter last year. Analysts predict that Tesla, Inc. will post 1.99 earnings per share for the current year.

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.