United Asset Strategies Inc. Sells 343 Shares of Tesla, Inc. $TSLA

United Asset Strategies Inc. lessened its holdings in Tesla, Inc. (NASDAQ:TSLA) by 2.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,368 shares of the electric vehicle producer’s stock after selling 343 shares during the quarter. United Asset Strategies Inc.’s holdings in Tesla were worth $4,246,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in TSLA. Siren L.L.C. bought a new position in Tesla in the 1st quarter valued at about $2,332,000. Zuckerman Investment Group LLC grew its position in shares of Tesla by 6.9% in the first quarter. Zuckerman Investment Group LLC now owns 12,748 shares of the electric vehicle producer’s stock valued at $3,304,000 after purchasing an additional 826 shares during the last quarter. Keystone Global Partners LLC acquired a new stake in Tesla during the 1st quarter worth approximately $594,000. Strs Ohio bought a new stake in Tesla in the 1st quarter valued at $205,495,000. Finally, AustralianSuper Pty Ltd grew its holdings in Tesla by 1,823.0% in the 2nd quarter. AustralianSuper Pty Ltd now owns 68,325 shares of the electric vehicle producer’s stock valued at $21,704,000 after buying an additional 64,772 shares in the last quarter. Institutional investors own 66.20% of the company’s stock.

Wall Street Analysts Forecast Growth

TSLA has been the subject of a number of recent research reports. Melius Research set a $520.00 target price on shares of Tesla and gave the company a “buy” rating in a research report on Monday, October 13th. Barclays reissued a “negative” rating and issued a $350.00 price objective (up previously from $275.00) on shares of Tesla in a report on Thursday, October 16th. TD Cowen raised their target price on shares of Tesla from $374.00 to $509.00 and gave the stock a “buy” rating in a report on Thursday, October 9th. Canaccord Genuity Group reduced their price target on Tesla from $490.00 to $482.00 and set a “buy” rating on the stock in a research report on Thursday, October 23rd. Finally, Needham & Company LLC restated a “hold” rating on shares of Tesla in a research note on Thursday, October 23rd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, thirteen have issued a Hold rating and eleven have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $391.08.

Insider Activity at Tesla

In other news, Director James R. Murdoch sold 120,000 shares of the firm’s stock in a transaction on Tuesday, August 26th. The shares were 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 owned 697,031 shares of the company’s stock, valued at approximately $244,162,988.99. This trade represents a 14.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 completion of the sale, the chief financial officer directly owned 9,856 shares in the company, valued at approximately $3,473,057.28. This represents a 20.91% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 202,606 shares of company stock worth $75,588,902 in the last quarter. 19.90% of the stock is owned by insiders.

Tesla Trading Down 1.3%

NASDAQ TSLA opened at $439.62 on Wednesday. The company has a market cap of $1.46 trillion, a price-to-earnings ratio of 293.08, a price-to-earnings-growth ratio of 16.84 and a beta of 2.06. Tesla, Inc. has a twelve month low of $214.25 and a twelve month high of $488.54. The company has a quick ratio of 1.67, a current ratio of 2.07 and a debt-to-equity ratio of 0.07. The business’s fifty day moving average is $425.40 and its 200 day moving average is $358.68.

Tesla (NASDAQ:TSLA) last posted its earnings results on Thursday, October 23rd. The electric vehicle producer reported $0.50 EPS for the quarter, beating the consensus estimate of $0.48 by $0.02. Tesla had a return on equity of 6.61% and a net margin of 5.51%.The firm had revenue of $28.10 billion during the quarter, compared to the consensus estimate of $24.98 billion. During the same period last year, the company earned $0.72 earnings per share. The business’s quarterly revenue was up 11.6% on a year-over-year basis. As a group, sell-side analysts expect that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Tesla Company 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.