First Manhattan Co. Sells 200 Shares of Tesla Inc (TSLA)

First Manhattan Co. reduced its position in Tesla Inc (NASDAQ:TSLA) by 10.1% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,779 shares of the electric vehicle producer’s stock after selling 200 shares during the period. First Manhattan Co.’s holdings in Tesla were worth $471,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Summit Trail Advisors LLC lifted its holdings in shares of Tesla by 7.3% in the 2nd quarter. Summit Trail Advisors LLC now owns 2,448 shares of the electric vehicle producer’s stock worth $840,000 after purchasing an additional 166 shares in the last quarter. Flagship Harbor Advisors LLC lifted its holdings in shares of Tesla by 9.1% in the 2nd quarter. Flagship Harbor Advisors LLC now owns 2,392 shares of the electric vehicle producer’s stock worth $820,000 after purchasing an additional 199 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in shares of Tesla by 9.8% in the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 2,231 shares of the electric vehicle producer’s stock worth $766,000 after purchasing an additional 200 shares in the last quarter. First Mercantile Trust Co. lifted its holdings in shares of Tesla by 5.0% in the 2nd quarter. First Mercantile Trust Co. now owns 4,200 shares of the electric vehicle producer’s stock worth $1,440,000 after purchasing an additional 200 shares in the last quarter. Finally, Motley Fool Asset Management LLC lifted its holdings in shares of Tesla by 13.4% in the 2nd quarter. Motley Fool Asset Management LLC now owns 1,902 shares of the electric vehicle producer’s stock worth $652,000 after purchasing an additional 225 shares in the last quarter. Institutional investors own 62.08% of the company’s stock.

In related news, insider Jerome M. Guillen sold 1,000 shares of Tesla stock in a transaction dated Monday, October 1st. The stock was sold at an average price of $306.00, for a total value of $306,000.00. Following the completion of the sale, the insider now owns 8,598 shares of the company’s stock, valued at approximately $2,630,988. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Kimbal Musk sold 1,875 shares of Tesla stock in a transaction dated Monday, October 1st. The stock was sold at an average price of $306.00, for a total value of $573,750.00. Following the completion of the sale, the director now directly owns 150,208 shares of the company’s stock, valued at approximately $45,963,648. The disclosure for this sale can be found here. Company insiders own 22.80% of the company’s stock.

TSLA has been the topic of a number of recent research reports. Goldman Sachs Group reiterated a “sell” rating and issued a $195.00 target price on shares of Tesla in a report on Tuesday, June 26th. Berenberg Bank reissued a “buy” rating and issued a $500.00 price target on shares of Tesla in a research report on Thursday, June 28th. Royal Bank of Canada reissued a “neutral” rating and issued a $280.00 price target on shares of Tesla in a research report on Monday, July 2nd. Bank of America set a $180.00 price target on Tesla and gave the company a “sell” rating in a research report on Monday, July 2nd. Finally, KeyCorp set a $300.00 price target on Tesla and gave the company a “hold” rating in a research report on Tuesday, July 3rd. Fifteen equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and eight have given a buy rating to the company. Tesla currently has a consensus rating of “Hold” and an average price target of $306.59.

Shares of Tesla stock opened at $260.00 on Monday. Tesla Inc has a 1 year low of $244.59 and a 1 year high of $387.46. The company has a debt-to-equity ratio of 2.01, a quick ratio of 0.37 and a current ratio of 0.73.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, August 1st. The electric vehicle producer reported ($3.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($3.61) by $0.55. Tesla had a negative return on equity of 50.84% and a negative net margin of 19.89%. The firm had revenue of $4 billion during the quarter, compared to analyst estimates of $3.93 billion. During the same period last year, the firm posted ($1.33) EPS. The business’s revenue was up 43.5% compared to the same quarter last year. As a group, research analysts forecast that Tesla Inc will post -10.77 EPS for the current fiscal year.

Tesla Profile

Tesla, Inc engages in the design, development, manufacture, and sale of fully electric vehicles, energy generation and storage systems. It also provides vehicle service centers, supercharger station, and self-driving capability. The firm operates through Automotive, and Energy Generation and Storage segments.

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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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