NCP Inc. Sells 4,766 Shares of Tesla, Inc. (NASDAQ:TSLA)

NCP Inc. decreased its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 10.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 39,948 shares of the electric vehicle producer’s stock after selling 4,766 shares during the quarter. Tesla makes up about 5.0% of NCP Inc.’s holdings, making the stock its 4th biggest position. NCP Inc.’s holdings in Tesla were worth $7,905,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Bank & Trust Co acquired a new position in shares of Tesla during the 2nd quarter worth $25,000. Valley Wealth Managers Inc. acquired a new position in Tesla in the 2nd quarter valued at $26,000. Abich Financial Wealth Management LLC grew its stake 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 buying an additional 81 shares during the last quarter. OLD Point Trust & Financial Services N A acquired a new position in Tesla in the 4th quarter valued at $37,000. Finally, Kessler Investment Group LLC grew its stake in Tesla by 35.9% in the 2nd quarter. Kessler Investment Group LLC now owns 193 shares of the electric vehicle producer’s stock valued at $38,000 after buying an additional 51 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insider Buying and Selling at Tesla

In other Tesla news, Director Robyn M. Denholm sold 66,364 shares of the firm’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $219.96, for a total value of $14,597,425.44. Following the completion of the sale, the director now owns 85,000 shares in the company, valued at approximately $18,696,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Tesla news, Director Robyn M. Denholm sold 66,364 shares of the firm’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $219.96, for a total value of $14,597,425.44. Following the completion of the sale, the director now owns 85,000 shares in the company, valued at approximately $18,696,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Vaibhav Taneja sold 8,000 shares of Tesla stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the sale, the chief financial officer now owns 105,032 shares of the company’s stock, valued at approximately $26,258,000. The disclosure for this sale can be found here. In the last 90 days, insiders sold 74,661 shares of company stock worth $16,663,291. 25.10% of the stock is currently owned by corporate insiders.

Tesla Trading Down 1.4 %

Shares of TSLA stock opened at $258.02 on Wednesday. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $271.00. The company has a market capitalization of $824.28 billion, a P/E ratio of 65.82, a P/E/G ratio of 7.08 and a beta of 2.29. The firm has a 50-day moving average price of $222.33 and a 200 day moving average price of $200.24. The company has a quick ratio of 1.40, a current ratio of 1.91 and a debt-to-equity ratio of 0.08.

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

Analysts Set New Price Targets

A number of research firms recently issued reports on TSLA. New Street Research lowered shares of Tesla from a “buy” rating to a “neutral” rating and set a $225.00 target price on the stock. in a research note on Wednesday, July 24th. KGI Securities reiterated a “neutral” rating and issued a $236.00 target price on shares of Tesla in a research note on Thursday, July 25th. Wedbush reiterated an “outperform” rating and issued a $300.00 target price on shares of Tesla in a research note on Wednesday, July 24th. Piper Sandler increased their price target on shares of Tesla from $300.00 to $310.00 and gave the company an “overweight” rating in a report on Wednesday, September 25th. Finally, TD Cowen increased their price target on shares of Tesla from $160.00 to $180.00 and gave the company a “hold” rating in a report on Wednesday, July 3rd. Nine analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $209.90.

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.