First Trust Advisors LP Reduces Position in Tesla Inc. (TSLA)

First Trust Advisors LP reduced its position in shares of Tesla Inc. (NASDAQ:TSLA) by 8.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 90,811 shares of the electric vehicle producer’s stock after selling 8,277 shares during the period. First Trust Advisors LP owned approximately 0.05% of Tesla worth $30,976,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in TSLA. Pittenger & Anderson Inc. increased its stake in Tesla by 20.0% during the 2nd quarter. Pittenger & Anderson Inc. now owns 300 shares of the electric vehicle producer’s stock worth $108,000 after acquiring an additional 50 shares during the period. Winfield Associates Inc. increased its stake in shares of Tesla by 85.2% in the 2nd quarter. Winfield Associates Inc. now owns 326 shares of the electric vehicle producer’s stock valued at $118,000 after purchasing an additional 150 shares during the last quarter. Acropolis Investment Management LLC bought a new position in shares of Tesla in the 2nd quarter valued at $122,000. North Star Investment Management Corp. increased its stake in shares of Tesla by 2.8% in the 2nd quarter. North Star Investment Management Corp. now owns 336 shares of the electric vehicle producer’s stock valued at $122,000 after purchasing an additional 9 shares during the last quarter. Finally, Carroll Financial Associates Inc. increased its stake in shares of Tesla by 8.7% in the 2nd quarter. Carroll Financial Associates Inc. now owns 349 shares of the electric vehicle producer’s stock valued at $126,000 after purchasing an additional 28 shares during the last quarter. 56.45% of the stock is owned by institutional investors and hedge funds.

Tesla Inc. (TSLA) opened at 320.08 on Tuesday. Tesla Inc. has a 1-year low of $178.19 and a 1-year high of $389.61. The company has a 50-day moving average price of $351.81 and a 200-day moving average price of $341.57. The company’s market cap is $53.42 billion.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, August 2nd. The electric vehicle producer reported ($1.33) EPS for the quarter, topping the consensus estimate of ($2.00) by $0.67. The business had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.50 billion. Tesla had a negative net margin of 7.61% and a negative return on equity of 16.36%. The business’s quarterly revenue was up 119.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($1.06) EPS. On average, analysts expect that Tesla Inc. will post ($6.67) EPS for the current fiscal year.

Several equities analysts have recently issued reports on the company. Robert W. Baird reiterated an “outperform” rating and issued a $368.00 price target on shares of Tesla in a research note on Thursday, August 3rd. Argus upgraded Tesla from a “hold” rating to a “buy” rating and lifted their price target for the company from $355.17 to $444.00 in a research note on Tuesday, August 8th. Vetr lowered Tesla from a “strong-buy” rating to a “buy” rating and set a $358.85 price target on the stock. in a research note on Tuesday, July 11th. Barclays PLC reiterated a “sell” rating on shares of Tesla in a research note on Sunday, October 15th. Finally, Goldman Sachs Group, Inc. (The) reiterated a “sell” rating and issued a $180.00 price target (down previously from $190.00) on shares of Tesla in a research note on Monday, July 31st. Ten analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eleven have issued a buy rating to the stock. Tesla presently has a consensus rating of “Hold” and an average price target of $332.78.

In other Tesla news, VP Eric Branderiz sold 99 shares of the business’s stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $350.12, for a total value of $34,661.88. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Stephen T. Jurvetson sold 44,777 shares of the business’s stock in a transaction on Tuesday, August 22nd. The stock was sold at an average price of $340.36, for a total transaction of $15,240,299.72. Following the completion of the sale, the director now owns 36,111 shares in the company, valued at approximately $12,290,739.96. The disclosure for this sale can be found here. In the last quarter, insiders sold 50,992 shares of company stock worth $17,390,505. Corporate insiders own 23.10% of the company’s stock.

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About Tesla

Tesla, Inc, formerly Tesla Motors, Inc, designs, develops, manufactures and sells fully electric vehicles, and energy storage systems, as well as installs, operates and maintains solar and energy storage products. The Company operates through two segments: Automotive, and Energy generation and storage.

Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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