Mirabella Financial Services LLP Sells 11,374 Shares of Tesla, Inc. $TSLA

Mirabella Financial Services LLP lowered its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 73.0% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 4,208 shares of the electric vehicle producer’s stock after selling 11,374 shares during the period. Mirabella Financial Services LLP’s holdings in Tesla were worth $1,343,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. GeoWealth Management LLC lifted its holdings in shares of Tesla by 7.5% during the 2nd quarter. GeoWealth Management LLC now owns 9,695 shares of the electric vehicle producer’s stock worth $3,080,000 after acquiring an additional 680 shares during the period. Veltria Advisors Corp. lifted its stake in Tesla by 1.1% during the second quarter. Veltria Advisors Corp. now owns 3,094 shares of the electric vehicle producer’s stock worth $983,000 after purchasing an additional 33 shares during the period. Great Diamond Partners LLC lifted its stake in Tesla by 1.2% during the second quarter. Great Diamond Partners LLC now owns 4,060 shares of the electric vehicle producer’s stock worth $1,290,000 after purchasing an additional 47 shares during the period. Philadelphia Trust Co. grew its stake in shares of Tesla by 23.8% in the 2nd quarter. Philadelphia Trust Co. now owns 2,391 shares of the electric vehicle producer’s stock valued at $760,000 after purchasing an additional 460 shares during the period. Finally, Guggenheim Capital LLC raised its holdings in shares of Tesla by 18.7% in the 2nd quarter. Guggenheim Capital LLC now owns 398,501 shares of the electric vehicle producer’s stock worth $126,588,000 after buying an additional 62,891 shares in the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Tesla

In related news, SVP Xiaotong Zhu sold 20,000 shares of the stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the sale, the senior vice president owned 47,600 shares of the company’s stock, valued at $17,314,500. This represents a 29.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director James R. Murdoch sold 60,000 shares of the business’s stock in a transaction on Monday, September 15th. The stock was sold at an average price of $422.68, for a total value of $25,360,800.00. Following the transaction, the director directly owned 637,031 shares of the company’s stock, valued at $269,260,263.08. This trade represents a 8.61% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 82,606 shares of company stock worth $33,554,102. Company insiders own 19.90% of the company’s stock.

Tesla Price Performance

TSLA opened at $454.53 on Friday. The company has a fifty day simple moving average of $434.64 and a 200 day simple moving average of $371.63. The company has a quick ratio of 1.67, a current ratio of 2.07 and a debt-to-equity ratio of 0.07. The stock has a market cap of $1.51 trillion, a P/E ratio of 303.02, a P/E/G ratio of 15.09 and a beta of 1.87. Tesla, Inc. has a 12 month low of $214.25 and a 12 month high of $488.54.

Tesla (NASDAQ:TSLA) last released its earnings results on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.02. The firm had revenue of $28.10 billion during the quarter, compared to analysts’ expectations of $24.98 billion. Tesla had a return on equity of 6.61% and a net margin of 5.51%.The company’s revenue was up 11.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.72 EPS. On average, research analysts expect that Tesla, Inc. will post 2.56 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have weighed in on TSLA shares. Benchmark reiterated a “buy” rating on shares of Tesla in a research report on Thursday, October 23rd. Industrial Alliance Securities set a $300.00 target price on shares of Tesla in a research report on Monday, October 13th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Tesla from $440.00 to $470.00 and gave the company a “buy” rating in a research report on Monday, November 3rd. President Capital lifted their target price on shares of Tesla from $373.00 to $529.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. Finally, BNP Paribas boosted their target price on Tesla from $307.00 to $313.00 in a report on Monday. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, thirteen have issued a Hold rating and nine have issued a Sell rating to the company’s stock. According to data from MarketBeat, Tesla currently has a consensus rating of “Hold” and a consensus price target of $398.92.

About Tesla

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.