Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Balentine LLC

Balentine LLC cut its position in Tesla, Inc. (NASDAQ:TSLA) by 95.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,163 shares of the electric vehicle producer’s stock after selling 22,650 shares during the quarter. Balentine LLC’s holdings in Tesla were worth $230,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of TSLA. Sachetta LLC boosted its stake in shares of Tesla by 8.0% in the second quarter. Sachetta LLC now owns 1,941 shares of the electric vehicle producer’s stock valued at $384,000 after purchasing an additional 144 shares during the period. Bright Futures Wealth Management LLC. boosted its position in Tesla by 2.8% in the 2nd quarter. Bright Futures Wealth Management LLC. now owns 2,352 shares of the electric vehicle producer’s stock valued at $488,000 after buying an additional 64 shares during the period. Royal London Asset Management Ltd. grew its stake in shares of Tesla by 1.3% in the second quarter. Royal London Asset Management Ltd. now owns 1,249,816 shares of the electric vehicle producer’s stock worth $247,314,000 after acquiring an additional 16,451 shares in the last quarter. Dorsey & Whitney Trust CO LLC increased its position in shares of Tesla by 20.6% during the second quarter. Dorsey & Whitney Trust CO LLC now owns 16,041 shares of the electric vehicle producer’s stock worth $3,174,000 after acquiring an additional 2,745 shares during the period. Finally, Global X Japan Co. Ltd. raised its stake in shares of Tesla by 114.0% in the second quarter. Global X Japan Co. Ltd. now owns 141,779 shares of the electric vehicle producer’s stock valued at $28,055,000 after acquiring an additional 75,526 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Price Performance

Shares of TSLA opened at $216.27 on Tuesday. The firm has a market capitalization of $690.90 billion, a PE ratio of 55.17, a P/E/G ratio of 5.57 and a beta of 2.29. The stock’s 50 day moving average is $224.59 and its two-hundred day moving average is $193.72. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $278.98. The company has a current ratio of 1.91, a quick ratio of 1.40 and a debt-to-equity ratio of 0.08.

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

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. William Blair initiated coverage on Tesla in a research note on Thursday, August 29th. They set an “outperform” rating for the company. Robert W. Baird restated an “outperform” rating and set a $280.00 target price on shares of Tesla in a research note on Tuesday, August 20th. KGI Securities reiterated a “neutral” rating and issued a $236.00 price target on shares of Tesla in a research note on Thursday, July 25th. UBS Group downgraded shares of Tesla from a “neutral” rating to a “sell” rating and increased their price objective for the company from $147.00 to $197.00 in a research report on Friday, July 12th. Finally, Guggenheim reaffirmed a “sell” rating and set a $134.00 price objective on shares of Tesla in a research report on Tuesday, July 23rd. Nine research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $209.03.

Insider Transactions at Tesla

In related news, SVP Xiaotong Zhu sold 297 shares of the firm’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the sale, the senior vice president now owns 67,491 shares in the company, valued at $14,967,479.07. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction on Friday, September 6th. The stock was sold at an average price of $221.77, for a total transaction of $65,865.69. Following the completion of the transaction, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at $14,967,479.07. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Robyn M. Denholm sold 66,364 shares of the company’s stock in a transaction on 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 directly owns 85,000 shares in the company, valued at approximately $18,696,600. The disclosure for this sale can be found here. Corporate insiders own 25.10% of the company’s stock.

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.