Garner Asset Management Corp Has $819,000 Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Garner Asset Management Corp reduced its position in Tesla, Inc. (NASDAQ:TSLA) by 7.0% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 3,129 shares of the electric vehicle producer’s stock after selling 236 shares during the period. Garner Asset Management Corp’s holdings in Tesla were worth $819,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of TSLA. Pekin Hardy Strauss Inc. acquired a new stake in Tesla during the third quarter worth approximately $207,000. Summit Trail Advisors LLC lifted its position in Tesla by 29.6% during the third quarter. Summit Trail Advisors LLC now owns 26,746 shares of the electric vehicle producer’s stock worth $6,998,000 after acquiring an additional 6,112 shares during the last quarter. Cahill Financial Advisors Inc. raised its position in shares of Tesla by 7.9% in the third quarter. Cahill Financial Advisors Inc. now owns 1,602 shares of the electric vehicle producer’s stock valued at $419,000 after buying an additional 117 shares in the last quarter. SevenBridge Financial Group LLC acquired a new stake in shares of Tesla in the third quarter valued at approximately $218,000. Finally, Westfield Capital Management Co. LP raised its position in shares of Tesla by 19.1% in the third quarter. Westfield Capital Management Co. LP now owns 521,524 shares of the electric vehicle producer’s stock valued at $136,446,000 after buying an additional 83,527 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction that occurred 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 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 0.44 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robyn M. Denholm sold 112,390 shares of the stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $314.44, for a total transaction of $35,339,911.60. Following the transaction, the director now directly owns 85,000 shares of the company’s stock, valued at $26,727,400. This represents a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 301,187 shares of company stock valued at $92,956,692. Corporate insiders own 20.70% of the company’s stock.

Tesla Trading Up 3.8 %

Shares of TSLA stock opened at $352.56 on Friday. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $361.53. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84. The company has a 50-day simple moving average of $264.07 and a two-hundred day simple moving average of $226.43. The company has a market capitalization of $1.13 trillion, a price-to-earnings ratio of 96.59, a PEG ratio of 11.03 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last issued 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. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The business had revenue of $25.18 billion during the quarter, compared to the consensus estimate of $25.47 billion. During the same period in the prior year, the firm posted $0.53 EPS. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. Research analysts anticipate that Tesla, Inc. will post 1.99 EPS for the current fiscal year.

Analyst Ratings Changes

TSLA has been the subject of a number of analyst reports. Oppenheimer reiterated a “market perform” rating on shares of Tesla in a research report on Tuesday, October 8th. Canaccord Genuity Group lifted their price target on shares of Tesla from $254.00 to $278.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Sanford C. Bernstein reiterated an “underperform” rating and issued a $120.00 price target on shares of Tesla in a research report on Thursday, October 3rd. Barclays lifted their price objective on shares of Tesla from $220.00 to $235.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 29th. Finally, The Goldman Sachs Group lifted their price objective on shares of Tesla from $230.00 to $250.00 and gave the company a “neutral” rating in a research note on Thursday, October 24th. Nine investment 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 data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $230.18.

About Tesla

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.