L & S Advisors Inc Sells 3,306 Shares of Tesla Inc (TSLA)

L & S Advisors Inc reduced its holdings in Tesla Inc (NASDAQ:TSLA) by 76.8% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 1,001 shares of the electric vehicle producer’s stock after selling 3,306 shares during the quarter. L & S Advisors Inc’s holdings in Tesla were worth $341,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Flagship Harbor Advisors LLC increased its position in Tesla by 0.4% in the 2nd quarter. Flagship Harbor Advisors LLC now owns 987 shares of the electric vehicle producer’s stock valued at $309,000 after acquiring an additional 4 shares during the period. Sterling Investment Advisors Ltd. increased its position in Tesla by 2.2% in the 2nd quarter. Sterling Investment Advisors Ltd. now owns 853 shares of the electric vehicle producer’s stock valued at $308,000 after acquiring an additional 18 shares during the period. Hanson McClain Inc. increased its position in Tesla by 2.1% in the 2nd quarter. Hanson McClain Inc. now owns 976 shares of the electric vehicle producer’s stock valued at $353,000 after acquiring an additional 20 shares during the period. WASHINGTON TRUST Co increased its position in Tesla by 1.7% in the 2nd quarter. WASHINGTON TRUST Co now owns 1,178 shares of the electric vehicle producer’s stock valued at $426,000 after acquiring an additional 20 shares during the period. Finally, Essex Financial Services Inc. increased its position in Tesla by 2.4% in the 2nd quarter. Essex Financial Services Inc. now owns 1,159 shares of the electric vehicle producer’s stock valued at $419,000 after acquiring an additional 27 shares during the period. Hedge funds and other institutional investors own 57.20% of the company’s stock.

Tesla Inc (NASDAQ:TSLA) opened at $311.24 on Friday. Tesla Inc has a 12 month low of $189.54 and a 12 month high of $389.61. The company has a current ratio of 1.09, a quick ratio of 0.71 and a debt-to-equity ratio of 1.66.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, November 1st. The electric vehicle producer reported ($2.92) earnings per share for the quarter, beating analysts’ consensus estimates of ($3.09) by $0.17. Tesla had a negative net margin of 13.09% and a negative return on equity of 24.88%. The firm had revenue of $2.99 billion for the quarter, compared to analyst estimates of $2.94 billion. During the same period last year, the firm earned $0.71 earnings per share. The business’s quarterly revenue was up 29.9% compared to the same quarter last year. equities research analysts forecast that Tesla Inc will post -11.38 EPS for the current year.

In related news, VP Eric Branderiz sold 1,229 shares of the firm’s stock in a transaction dated Thursday, December 7th. The shares were sold at an average price of $312.61, for a total transaction of $384,197.69. Following the transaction, the vice president now directly owns 4,808 shares of the company’s stock, valued at $1,503,028.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kimbal Musk sold 2,190 shares of the firm’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $330.29, for a total transaction of $723,335.10. Following the transaction, the director now directly owns 154,419 shares in the company, valued at $51,003,051.51. The disclosure for this sale can be found here. Insiders have sold 11,417 shares of company stock worth $3,694,761 over the last three months. 23.10% of the stock is owned by insiders.

Several equities research analysts have recently weighed in on the stock. Sanford C. Bernstein set a $265.00 price objective on shares of Tesla and gave the stock a “neutral” rating in a research report on Wednesday, September 20th. Jefferies Group assumed coverage on shares of Tesla in a research report on Tuesday, September 19th. They set an “underperform” rating and a $280.00 price objective for the company. They noted that the move was a valuation call. Vetr upgraded shares of Tesla from a “hold” rating to a “buy” rating and set a $372.51 price objective for the company in a research report on Thursday, August 10th. Instinet assumed coverage on shares of Tesla in a research report on Wednesday, October 4th. They set a “buy” rating and a $500.00 price objective for the company. Finally, ValuEngine upgraded shares of Tesla from a “sell” rating to a “hold” rating in a research report on Wednesday. Twelve analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eleven have issued a buy rating to the company’s stock. Tesla currently has an average rating of “Hold” and an average price target of $331.56.

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About Tesla

Tesla, Inc, formerly Tesla Motors, Inc, designs, develops, manufactures and sells fully electric vehicles, and energy storage systems, as well as installs, operates and maintains solar and energy storage products. The Company operates through two segments: Automotive, and Energy generation and storage.

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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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