STF Management LP Decreases Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

STF Management LP reduced its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 10.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,744 shares of the electric vehicle producer's stock after selling 2,998 shares during the period. Tesla comprises 3.1% of STF Management LP's investment portfolio, making the stock its 7th biggest position. STF Management LP's holdings in Tesla were worth $6,997,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of TSLA. Bank & Trust Co acquired a new stake in Tesla during the 2nd quarter valued at $25,000. Valley Wealth Managers Inc. acquired a new stake in Tesla during the 2nd quarter valued at $26,000. Abich Financial Wealth Management LLC grew its holdings in Tesla by 168.8% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer's stock valued at $26,000 after buying an additional 81 shares during the last quarter. Transcendent Capital Group LLC acquired a new stake in Tesla during the 3rd quarter valued at $29,000. Finally, Clean Yield Group grew its holdings in Tesla by 60.0% during the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer's stock valued at $33,000 after buying an additional 48 shares during the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Stock Up 3.8 %

NASDAQ:TSLA traded up $12.92 during mid-day trading on Friday, reaching $352.56. The stock had a trading volume of 88,577,682 shares, compared to its average volume of 95,798,195. The company has a market capitalization of $1.13 trillion, a price-to-earnings ratio of 96.48, a price-to-earnings-growth ratio of 11.24 and a beta of 2.29. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $361.53. The stock's 50 day simple moving average is $261.63 and its two-hundred day simple moving average is $224.93. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, beating analysts' consensus estimates of $0.58 by $0.14. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The company had revenue of $25.18 billion during the quarter, compared to the consensus estimate of $25.47 billion. During the same period in the previous year, the firm posted $0.53 earnings per share. Tesla's quarterly revenue was up 7.8% compared to the same quarter last year. Equities analysts anticipate that Tesla, Inc. will post 1.99 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on TSLA shares. Jefferies Financial Group increased their target price on Tesla from $195.00 to $300.00 and gave the company a "hold" rating in a report on Thursday, November 14th. Cantor Fitzgerald restated a "neutral" rating and set a $245.00 price objective on shares of Tesla in a report on Wednesday, October 23rd. Truist Financial raised their price objective on Tesla from $236.00 to $238.00 and gave the stock a "hold" rating in a report on Thursday, October 24th. The Goldman Sachs Group raised their price objective on Tesla from $230.00 to $250.00 and gave the stock a "neutral" rating in a report on Thursday, October 24th. Finally, Needham & Company LLC restated a "hold" rating on shares of Tesla in a report on Thursday, October 24th. Nine equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, Tesla presently has a consensus rating of "Hold" and an average target price of $230.18.

Insider Buying and Selling at Tesla

In other news, SVP Xiaotong Zhu sold 297 shares of the business's stock in a transaction on Friday, September 6th. The shares were 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 0.44 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Vaibhav Taneja sold 4,000 shares of the company's stock in a transaction on Monday, November 11th. The stock was sold at an average price of $350.00, for a total transaction of $1,400,000.00. Following the completion of the sale, the chief financial officer now owns 105,032 shares of the company's stock, valued at $36,761,200. This represents a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 301,187 shares of company stock worth $92,956,692 over the last ninety days. Company insiders own 20.70% of the company's stock.

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.