Godsey & Gibb Inc. Trims Stake in Tesla, Inc. (NASDAQ:TSLA)

Godsey & Gibb Inc. reduced its position in Tesla, Inc. (NASDAQ:TSLA) by 36.8% in the 3rd quarter, Holdings Channel reports. The firm owned 1,184 shares of the electric vehicle producer’s stock after selling 690 shares during the period. Godsey & Gibb Inc.’s holdings in Tesla were worth $310,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Bank & Trust Co acquired a new position in Tesla in the 2nd quarter valued at about $25,000. Valley Wealth Managers Inc. acquired a new position in Tesla in the 2nd quarter valued at about $26,000. Abich Financial Wealth Management LLC increased its position in Tesla by 168.8% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock valued at $26,000 after acquiring an additional 81 shares during the period. Clean Yield Group increased its position in Tesla by 60.0% in the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after acquiring an additional 48 shares during the period. Finally, M&R Capital Management Inc. increased its position in Tesla by 263.2% in the 3rd quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock valued at $36,000 after acquiring an additional 100 shares during the period. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Robyn M. Denholm sold 66,364 shares of Tesla stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the sale, the director now owns 85,000 shares of the company’s stock, valued at approximately $18,696,600. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CFO Vaibhav Taneja sold 8,000 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the transaction, the chief financial officer now owns 105,032 shares in the company, valued at $26,258,000. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robyn M. Denholm sold 66,364 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the transaction, the director now owns 85,000 shares in the company, valued at $18,696,600. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 74,661 shares of company stock valued at $16,663,291 over the last quarter. Insiders own 20.70% of the company’s stock.

Tesla Stock Performance

Shares of NASDAQ TSLA opened at $220.70 on Monday. The company has a quick ratio of 1.40, a current ratio of 1.91 and a debt-to-equity ratio of 0.08. The firm’s 50-day moving average price is $227.67 and its two-hundred day moving average price is $205.65. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $271.00. The stock has a market capitalization of $705.06 billion, a P/E ratio of 61.99, a P/E/G ratio of 6.31 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last issued its earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). Tesla had a return on equity of 10.41% and a net margin of 13.00%. The business had revenue of $25.50 billion during the quarter, compared to the consensus estimate of $24.38 billion. During the same period in the prior year, the business earned $0.78 EPS. The business’s revenue was up 2.3% on a year-over-year basis. As a group, sell-side analysts forecast that Tesla, Inc. will post 1.75 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on TSLA. Stifel Nicolaus assumed coverage on Tesla in a research report on Tuesday, June 25th. They set a “buy” rating and a $265.00 target price on the stock. Sanford C. Bernstein reaffirmed an “underperform” rating and issued a $120.00 target price on shares of Tesla in a research note on Thursday, October 3rd. Mizuho increased their price target on Tesla from $180.00 to $230.00 and gave the stock a “neutral” rating in a research note on Friday, July 12th. Cantor Fitzgerald reissued a “neutral” rating and set a $245.00 price target on shares of Tesla in a research note on Monday, October 7th. Finally, UBS Group lowered Tesla from a “neutral” rating to a “sell” rating and increased their price target for the stock from $147.00 to $197.00 in a research note on Friday, July 12th. Nine research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, Tesla presently has an average rating of “Hold” and an average target price of $210.72.

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.