Malaga Cove Capital LLC Trims Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Malaga Cove Capital LLC lowered its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 41.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,931 shares of the electric vehicle producer's stock after selling 9,782 shares during the period. Tesla makes up approximately 1.5% of Malaga Cove Capital LLC's portfolio, making the stock its 15th largest position. Malaga Cove Capital LLC's holdings in Tesla were worth $3,645,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in TSLA. Vanguard Group Inc. lifted its position in Tesla by 1.7% during the first quarter. Vanguard Group Inc. now owns 233,602,120 shares of the electric vehicle producer's stock valued at $41,064,917,000 after purchasing an additional 3,795,748 shares during the period. International Assets Investment Management LLC lifted its holdings in shares of Tesla by 35,611.2% during the 3rd quarter. International Assets Investment Management LLC now owns 11,054,391 shares of the electric vehicle producer's stock valued at $2,892,160,000 after buying an additional 11,023,436 shares during the period. Strategic Financial Concepts LLC grew its holdings in shares of Tesla by 21,816.0% in the second quarter. Strategic Financial Concepts LLC now owns 5,902,416 shares of the electric vehicle producer's stock worth $1,167,970,000 after acquiring an additional 5,875,484 shares during the period. ARK Investment Management LLC lifted its holdings in Tesla by 2.6% in the second quarter. ARK Investment Management LLC now owns 5,314,395 shares of the electric vehicle producer's stock valued at $1,051,613,000 after acquiring an additional 135,966 shares during the period. Finally, National Pension Service boosted its position in Tesla by 15.3% in the third quarter. National Pension Service now owns 5,182,657 shares of the electric vehicle producer's stock worth $1,355,939,000 after purchasing an additional 688,717 shares during the last quarter. 66.20% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on TSLA shares. Robert W. Baird reiterated an "outperform" rating and issued a $280.00 price objective on shares of Tesla in a research note on Tuesday, August 20th. Bank of America increased their price target on shares of Tesla from $265.00 to $350.00 and gave the stock a "buy" rating in a research report on Thursday. KGI Securities raised shares of Tesla from a "neutral" rating to an "outperform" rating and set a $276.00 price objective for the company in a research report on Thursday, October 24th. Wells Fargo & Company raised their target price on Tesla from $120.00 to $125.00 and gave the stock an "underweight" rating in a report on Thursday, October 24th. Finally, HSBC reiterated a "reduce" rating and set a $124.00 target price on shares of Tesla in a research report on Friday, October 11th. Eight analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, Tesla currently has an average rating of "Hold" and an average price target of $222.03.

Tesla Stock Up 2.9 %

NASDAQ:TSLA traded up $8.38 during mid-day trading on Thursday, reaching $296.91. The company's stock had a trading volume of 116,879,909 shares, compared to its average volume of 94,376,047. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $953.10 billion, a PE ratio of 81.35, a price-to-earnings-growth ratio of 8.01 and a beta of 2.29. The stock has a fifty day moving average of $237.23 and a 200-day moving average of $213.07. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $299.75.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.14. The company had revenue of $25.18 billion for the quarter, compared to analyst estimates of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. Tesla's revenue was up 7.8% compared to the same quarter last year. During the same period last year, the company posted $0.53 earnings per share. Equities research analysts forecast that Tesla, Inc. will post 1.96 earnings per share for the current year.

Insider Buying and Selling

In other Tesla news, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the transaction, the senior vice president now owns 67,491 shares in the company, valued at $14,967,479.07. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Tesla news, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction on Friday, September 6th. The shares were sold at an average price of $221.77, for a total value of $65,865.69. Following the transaction, the senior vice president now directly owns 67,491 shares of the company's stock, valued at approximately $14,967,479.07. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kimbal Musk sold 60,500 shares of the stock in a transaction on Friday, November 1st. The shares were sold at an average price of $250.23, for a total value of $15,138,915.00. Following the sale, the director now owns 1,563,220 shares of the company's stock, valued at approximately $391,164,540.60. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 76,797 shares of company stock worth $19,211,821 in the last three months. 20.70% of the stock is owned by insiders.

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.