Gables Capital Management Inc. Sells 137 Shares of Tesla, Inc. $TSLA

Gables Capital Management Inc. reduced its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 25.8% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 393 shares of the electric vehicle producer’s stock after selling 137 shares during the quarter. Gables Capital Management Inc.’s holdings in Tesla were worth $125,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in TSLA. Goldman Sachs Group Inc. grew its stake in shares of Tesla by 322.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer’s stock valued at $6,891,201,000 after purchasing an additional 20,291,139 shares during the period. Nuveen LLC bought a new stake in shares of Tesla during the 1st quarter valued at about $3,247,619,000. Kingstone Capital Partners Texas LLC grew its stake in shares of Tesla by 581,880.5% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 6,436,704 shares of the electric vehicle producer’s stock valued at $2,044,683,000 after purchasing an additional 6,435,598 shares during the period. Amundi increased its position in 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 in the last quarter. Finally, Vanguard Group Inc. increased its position in 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 in the last quarter. 66.20% of the stock is currently owned by institutional investors.

Insider Activity at Tesla

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

Wall Street Analysts Forecast Growth

TSLA has been the subject of a number of analyst reports. The Goldman Sachs Group upped their price target on Tesla from $395.00 to $425.00 and gave the stock a “neutral” rating in a research report on Friday, October 3rd. Bank of America upped their price target on Tesla from $305.00 to $341.00 and gave the stock a “neutral” rating in a research report on Monday, July 21st. Stifel Nicolaus set a $483.00 price target on Tesla and gave the stock a “buy” rating in a research report on Wednesday, October 8th. Barclays restated a “negative” rating and issued a $350.00 price target (up previously from $275.00) on shares of Tesla in a research report on Thursday, October 16th. Finally, Industrial Alliance Securities set a $300.00 price target on Tesla in a research report on Monday, October 13th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, twelve have issued a Hold rating and ten have given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $363.54.

Tesla Stock Performance

NASDAQ:TSLA opened at $442.60 on Wednesday. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a 12-month low of $212.11 and a 12-month high of $488.54. The stock has a 50-day moving average price of $391.74 and a 200 day moving average price of $336.26. The stock has a market capitalization of $1.47 trillion, a P/E ratio of 255.84, a P/E/G ratio of 16.08 and a beta of 2.08.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.03). Tesla had a return on equity of 7.98% and a net margin of 6.54%.The business had revenue of $22.50 billion for the quarter, compared to analysts’ expectations of $23.18 billion. During the same quarter in the prior year, the business posted $0.52 EPS. The business’s revenue for the quarter was down 11.8% compared to the same quarter last year. Equities research analysts forecast that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

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.