Delta Investment Management LLC Sells 987 Shares of Tesla, Inc. $TSLA

Delta Investment Management LLC trimmed its stake in Tesla, Inc. (NASDAQ:TSLA) by 13.1% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,529 shares of the electric vehicle producer’s stock after selling 987 shares during the period. Delta Investment Management LLC’s holdings in Tesla were worth $2,074,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. raised its holdings in shares of Tesla by 1.5% in the first quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer’s stock worth $63,983,418,000 after buying an additional 3,694,524 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of Tesla by 322.1% in the first quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer’s stock worth $6,891,201,000 after buying an additional 20,291,139 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of Tesla by 4.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 18,174,941 shares of the electric vehicle producer’s stock worth $4,710,218,000 after buying an additional 849,091 shares during the period. Amundi raised its holdings in shares of Tesla by 29.4% in the first quarter. Amundi now owns 16,771,882 shares of the electric vehicle producer’s stock worth $4,482,789,000 after buying an additional 3,814,610 shares during the period. Finally, Invesco Ltd. raised its holdings in shares of Tesla by 17.6% in the first quarter. Invesco Ltd. now owns 14,786,414 shares of the electric vehicle producer’s stock worth $3,832,047,000 after buying an additional 2,211,300 shares during the period. 66.20% of the stock is owned by institutional investors.

Insider Activity

In related news, CFO Vaibhav Taneja sold 2,606 shares of the business’s stock in a transaction on Monday, September 8th. The stock was sold at an average price of $352.38, for a total transaction of $918,302.28. Following the transaction, the chief financial officer directly owned 9,856 shares in the company, valued at $3,473,057.28. The trade was a 20.91% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director James R. Murdoch sold 120,000 shares of the business’s stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $350.29, for a total value of $42,034,800.00. Following the transaction, the director owned 697,031 shares in the company, valued at approximately $244,162,988.99. This trade represents a 14.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 202,606 shares of company stock worth $75,588,902. 19.90% of the stock is currently owned by company insiders.

Tesla Trading Down 3.4%

Shares of NASDAQ:TSLA opened at $433.72 on Monday. Tesla, Inc. has a 12-month low of $214.25 and a 12-month high of $488.54. The business’s fifty day simple moving average is $398.06 and its 200-day simple moving average is $341.21. The company has a market capitalization of $1.44 trillion, a PE ratio of 289.15, a P/E/G ratio of 15.45 and a beta of 2.08. The company has a current ratio of 2.07, a quick ratio of 1.67 and a debt-to-equity ratio of 0.07.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, October 22nd. The electric vehicle producer reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.02. Tesla had a return on equity of 6.61% and a net margin of 5.51%.The business had revenue of $28.10 billion for the quarter, compared to the consensus estimate of $24.98 billion. During the same period last year, the business posted $0.72 EPS. The business’s revenue was up 11.6% compared to the same quarter last year. As a group, equities research analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on TSLA. Barclays reiterated a “negative” rating and issued a $350.00 price target (up from $275.00) on shares of Tesla in a report on Thursday, October 16th. The Goldman Sachs Group reduced their price objective on Tesla from $425.00 to $400.00 and set a “neutral” rating on the stock in a report on Thursday. Daiwa Capital Markets restated a “neutral” rating on shares of Tesla in a report on Sunday, July 27th. Bank of America raised their price objective on Tesla from $305.00 to $341.00 and gave the stock a “neutral” rating in a report on Monday, July 21st. Finally, Wedbush restated an “outperform” rating and set a $600.00 price objective on shares of Tesla in a report on Monday, October 20th. One research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating, twelve have given a Hold rating and eleven have issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $381.00.

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.