Tanaka Capital Management Inc. Trims Position in Tesla Inc. (TSLA)

Tanaka Capital Management Inc. lowered its stake in shares of Tesla Inc. (NASDAQ:TSLA) by 2.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,580 shares of the electric vehicle producer’s stock after selling 131 shares during the quarter. Tesla comprises 3.8% of Tanaka Capital Management Inc.’s portfolio, making the stock its 9th largest position. Tanaka Capital Management Inc.’s holdings in Tesla were worth $1,656,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently made changes to their positions in TSLA. Pittenger & Anderson Inc. increased its position in shares of Tesla by 20.0% during the second quarter. Pittenger & Anderson Inc. now owns 300 shares of the electric vehicle producer’s stock valued at $108,000 after buying an additional 50 shares during the period. Winfield Associates Inc. increased its position in shares of Tesla by 85.2% during the second quarter. Winfield Associates Inc. now owns 326 shares of the electric vehicle producer’s stock valued at $118,000 after buying an additional 150 shares during the period. Acropolis Investment Management LLC purchased a new position in shares of Tesla during the second quarter valued at about $122,000. North Star Investment Management Corp. increased its position in shares of Tesla by 2.8% during the second quarter. North Star Investment Management Corp. now owns 336 shares of the electric vehicle producer’s stock valued at $122,000 after buying an additional 9 shares during the period. Finally, Carroll Financial Associates Inc. increased its position in shares of Tesla by 8.7% during the second quarter. Carroll Financial Associates Inc. now owns 349 shares of the electric vehicle producer’s stock valued at $126,000 after buying an additional 28 shares during the period. Institutional investors own 56.63% of the company’s stock.

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Shares of Tesla Inc. (NASDAQ:TSLA) traded up 0.82% during mid-day trading on Thursday, hitting $357.50. 2,615,865 shares of the stock were exchanged. Tesla Inc. has a 52-week low of $178.19 and a 52-week high of $389.61. The company’s market cap is $59.66 billion. The stock’s 50-day moving average price is $354.94 and its 200-day moving average price is $336.66.

Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, August 2nd. The electric vehicle producer reported ($1.33) earnings per share (EPS) for the quarter, beating the consensus estimate of ($2.00) by $0.67. Tesla had a negative net margin of 7.61% and a negative return on equity of 16.36%. The firm had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.50 billion. During the same period in the previous year, the business posted ($1.06) EPS. The business’s revenue was up 119.6% compared to the same quarter last year. Equities research analysts anticipate that Tesla Inc. will post ($6.41) earnings per share for the current fiscal year.

In related 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 document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kimbal Musk sold 2,190 shares of the business’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $355.20, for a total transaction of $777,888.00. Following the completion of the sale, the director now directly owns 158,584 shares of the company’s stock, valued at approximately $56,329,036.80. The disclosure for this sale can be found here. Over the last quarter, insiders sold 51,446 shares of company stock valued at $17,504,929. Company insiders own 23.10% of the company’s stock.

Several equities analysts recently issued reports on the stock. Robert W. Baird reiterated an “outperform” rating and set a $411.00 price target on shares of Tesla in a research report on Monday, September 18th. Jefferies Group LLC assumed coverage on shares of Tesla in a research report on Tuesday, September 19th. They set an “underperform” rating and a $280.00 price target on the stock. They noted that the move was a valuation call. Sanford C. Bernstein set a $265.00 price target on shares of Tesla and gave the company a “neutral” rating in a research report on Wednesday, September 20th. Vetr upgraded shares of Tesla from a “strong sell” rating to a “sell” rating and set a $341.74 price target on the stock in a research report on Wednesday, September 20th. Finally, BidaskClub lowered shares of Tesla from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 20th. Ten investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and sixteen have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $326.94.

Tesla Profile

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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