Tesla, Inc. (NASDAQ:TSLA) Stake Cut by Executive Wealth Management LLC

Executive Wealth Management LLC lessened its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 36.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,047 shares of the electric vehicle producer’s stock after selling 1,715 shares during the quarter. Executive Wealth Management LLC’s holdings in Tesla were worth $603,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in TSLA. Bank & Trust Co purchased a new position in Tesla during the second quarter valued at approximately $25,000. OLD Point Trust & Financial Services N A acquired a new stake in shares of Tesla during the 4th quarter valued at $37,000. Kessler Investment Group LLC grew its holdings in shares of Tesla by 35.9% during the 2nd quarter. Kessler Investment Group LLC now owns 193 shares of the electric vehicle producer’s stock valued at $38,000 after acquiring an additional 51 shares in the last quarter. Aspect Partners LLC raised its holdings in shares of Tesla by 121.3% during the second quarter. Aspect Partners LLC now owns 208 shares of the electric vehicle producer’s stock worth $41,000 after acquiring an additional 114 shares in the last quarter. Finally, 1620 Investment Advisors Inc. purchased a new stake in shares of Tesla during the second quarter worth $42,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Price Performance

Shares of TSLA stock opened at $229.81 on Friday. Tesla, Inc. has a 12 month low of $138.80 and a 12 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. The stock has a 50 day moving average of $223.80 and a two-hundred day moving average of $194.45. The company has a market capitalization of $734.16 billion, a P/E ratio of 58.63, a P/E/G ratio of 6.03 and a beta of 2.29.

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

Analyst Upgrades and Downgrades

TSLA has been the topic of several research reports. William Blair started coverage on Tesla in a research report on Thursday, August 29th. They issued an “outperform” rating on the stock. KGI Securities reaffirmed a “neutral” rating and set a $236.00 price objective on shares of Tesla in a research report on Thursday, July 25th. Citigroup reduced their target price on shares of Tesla from $274.00 to $258.00 and set a “neutral” rating for the company in a research note on Wednesday, July 24th. Glj Research restated a “sell” rating and set a $24.86 price target on shares of Tesla in a research note on Thursday, September 5th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $300.00 price objective on shares of Tesla in a research note on Monday, August 19th. Nine equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, Tesla presently has an average rating of “Hold” and a consensus target price of $209.03.

Insiders Place Their Bets

In other news, Director Robyn M. Denholm sold 66,364 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $219.96, for a total value of $14,597,425.44. Following the sale, the director now directly owns 85,000 shares in the company, valued at approximately $18,696,600. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director Robyn M. Denholm sold 66,364 shares of Tesla stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the completion of the transaction, the director now directly owns 85,000 shares of the company’s stock, valued at approximately $18,696,600. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the sale, the senior vice president now owns 67,491 shares in the company, valued at $14,967,479.07. The disclosure for this sale can be found here. Corporate insiders own 25.10% of the company’s stock.

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.