Proficio Capital Partners LLC Sells 2,885 Shares of Tesla, Inc. (NASDAQ:TSLA)

Proficio Capital Partners LLC lessened its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 26.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,928 shares of the electric vehicle producer's stock after selling 2,885 shares during the period. Proficio Capital Partners LLC's holdings in Tesla were worth $2,074,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Tesla by 1.7% during the first quarter. Vanguard Group Inc. now owns 233,602,120 shares of the electric vehicle producer's stock worth $41,064,917,000 after purchasing an additional 3,795,748 shares in the last quarter. International Assets Investment Management LLC raised its position in shares of Tesla by 35,611.2% in 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 purchasing an additional 11,023,436 shares during the last quarter. Strategic Financial Concepts LLC boosted its stake in Tesla by 21,816.0% in the 2nd quarter. Strategic Financial Concepts LLC now owns 5,902,416 shares of the electric vehicle producer's stock worth $1,167,970,000 after purchasing an additional 5,875,484 shares in the last quarter. ARK Investment Management LLC grew its holdings in shares of Tesla by 2.6% during 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 buying an additional 135,966 shares during the last quarter. Finally, National Pension Service increased its holdings in shares of Tesla by 15.3% in the third quarter. National Pension Service now owns 5,182,657 shares of the electric vehicle producer's stock valued at $1,355,939,000 after purchasing an additional 688,717 shares during the period. Institutional investors own 66.20% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on TSLA shares. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and issued a $295.00 price objective on shares of Tesla in a report on Tuesday, September 10th. KGI Securities raised Tesla from a "neutral" rating to an "outperform" rating and set a $276.00 price target on the stock in a research report on Thursday, October 24th. Canaccord Genuity Group lifted their price objective on Tesla from $254.00 to $278.00 and gave the company a "buy" rating in a research note on Thursday, October 24th. Cantor Fitzgerald restated a "neutral" rating and issued a $245.00 target price on shares of Tesla in a research note on Wednesday, October 23rd. Finally, The Goldman Sachs Group lifted their price target on Tesla from $230.00 to $250.00 and gave the company a "neutral" rating in a research report on Thursday, October 24th. Eight research analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $222.03.

Insider Activity

In other news, SVP Xiaotong Zhu sold 297 shares of the business's stock in a transaction on Friday, September 6th. The stock was sold at an average price of $221.77, for a total transaction of $65,865.69. Following the completion of the sale, 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 legal filing with the SEC, which is available through this link. In other news, CFO Vaibhav Taneja sold 8,000 shares of the company's stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $250.00, for a total value of $2,000,000.00. Following the completion of the sale, the chief financial officer now directly owns 105,032 shares of the company's stock, valued at $26,258,000. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $221.77, for a total transaction of $65,865.69. Following the transaction, the senior vice president now directly owns 67,491 shares in the company, valued at $14,967,479.07. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 76,797 shares of company stock valued at $19,211,821 over the last three months. 20.70% of the stock is owned by insiders.

Tesla Price Performance

Shares of NASDAQ TSLA traded up $24.31 during midday trading on Friday, reaching $321.22. 204,782,763 shares of the company traded hands, compared to its average volume of 88,324,920. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $328.71. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84. The stock's 50-day simple moving average is $241.18 and its 200-day simple moving average is $215.39. The firm has a market cap of $1.03 trillion, a PE ratio of 88.01, a PEG ratio of 10.59 and a beta of 2.29.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.14. The company had revenue of $25.18 billion during 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%. The company's revenue was up 7.8% on a year-over-year basis. During the same quarter last year, the business posted $0.53 earnings per share. As a group, equities analysts anticipate that Tesla, Inc. will post 1.96 earnings per share 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.