MADDEN SECURITIES Corp, an institutional investor, recently reduced its holdings in Tesla, Inc. during the second quarter of 2023. According to their filing with the Securities and Exchange Commission (SEC), they sold 1,613 shares of Tesla’s stock, resulting in a 7.4% decrease in their holdings. MADDEN SECURITIES Corp now holds a total of 20,044 shares of Tesla, accounting for 2.7% of their investment portfolio.
In July of the same year, Tesla announced its quarterly earnings results, surpassing analysts’ expectations. With an earnings per share (EPS) of $0.91 for the quarter, Tesla exceeded consensus estimates by $0.22. The company also reported a net margin of 12.97% and a return on equity (ROE) of 26.10%. Tesla generated a revenue of $24.93 billion, marking a 47.2% increase compared to the previous year.
Analysts predict that Tesla will achieve an earnings per share of approximately $2.94 for the current fiscal year. These financial updates provide valuable information for investors and market observers, offering insights into the company’s performance and growth potential.
In addition to the financial news, recent insider trading activity within Tesla has been disclosed. SVP Andrew D. Baglino sold 10,500 shares of Tesla stock on June 27th, worth over $2 million. SVP Xiaotong Zhu also sold around 1,065 shares on September 6th, totaling around $265 thousand. Overall, insiders have sold 55,815 Tesla shares in the past three months, with a total worth of over $14 million. Currently, insiders own approximately 25.10% of the company’s stock.
These insider sales shed light on the actions and sentiments of key individuals within Tesla’s leadership structure. Understanding insider trading activity can provide valuable insights for investors in evaluating the company’s future prospects.
– Securities and Exchange Commission (SEC): a U.S. government agency responsible for protecting investors, maintaining fair and efficient markets, and facilitating capital formation.
– Earnings per Share (EPS): a financial metric that indicates the profitability of a company by measuring the portion of the company’s profit allocated to each outstanding share of common stock.
– Net Margin: a profitability ratio that measures the percentage of revenue left after deducting all expenses, including taxes and interest.
– Return on Equity (ROE): a measure of a company’s profitability that calculates the return generated on the shareholders’ equity invested in the company.
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