Wealth Alliance Sells 5,582 Shares of Tesla, Inc. (NASDAQ:TSLA)

Wealth Alliance decreased its position in Tesla, Inc. (NASDAQ:TSLA) by 40.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,303 shares of the electric vehicle producer’s stock after selling 5,582 shares during the quarter. Wealth Alliance’s holdings in Tesla were worth $1,643,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Bank & Trust Co bought a new position in Tesla during the second quarter valued at about $25,000. Valley Wealth Managers Inc. bought a new position in Tesla during the second quarter valued at about $26,000. OLD Point Trust & Financial Services N A bought a new position in Tesla during the fourth quarter valued at about $37,000. Kessler Investment Group LLC grew its position in Tesla by 35.9% during the second 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 period. Finally, Aspect Partners LLC grew its position in Tesla by 121.3% during the second quarter. Aspect Partners LLC now owns 208 shares of the electric vehicle producer’s stock valued at $41,000 after buying an additional 114 shares during the period. Institutional investors own 66.20% of the company’s stock.

Tesla Stock Up 0.5 %

Shares of NASDAQ TSLA opened at $227.87 on Wednesday. Tesla, Inc. has a one year low of $138.80 and a one year high of $273.93. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.91 and a quick ratio of 1.40. The firm’s 50 day simple moving average is $222.16 and its two-hundred day simple moving average is $194.93. The stock has a market capitalization of $726.72 billion, a P/E ratio of 58.13, a PEG ratio of 6.08 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results 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). Tesla had a net margin of 13.00% and a return on equity of 10.41%. The business had revenue of $25.50 billion for the quarter, compared to the consensus estimate of $24.38 billion. During the same quarter in the previous year, the business earned $0.78 earnings per share. The firm’s revenue was up 2.3% on a year-over-year basis. As a group, analysts expect that Tesla, Inc. will post 1.75 EPS for the current fiscal year.

Insider Buying and Selling at Tesla

In other Tesla news, Director Robyn M. Denholm sold 66,364 shares of the stock in a transaction that occurred on 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 transaction, the director now directly owns 85,000 shares in the company, valued at $18,696,600. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, SVP Xiaotong Zhu sold 297 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $221.77, for a total value of $65,865.69. Following the transaction, 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. Also, Director Robyn M. Denholm sold 66,364 shares of the firm’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 transaction of $14,597,425.44. Following the completion of the transaction, the director now owns 85,000 shares in the company, valued at approximately $18,696,600. The disclosure for this sale can be found here. Company insiders own 25.10% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on TSLA. Citigroup reduced their price target on shares of Tesla from $274.00 to $258.00 and set a “neutral” rating for the company in a research report on Wednesday, July 24th. Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a research report on Wednesday, July 24th. Oppenheimer reiterated a “market perform” rating on shares of Tesla in a research report on Tuesday, July 9th. Cantor Fitzgerald reiterated a “neutral” rating and set a $245.00 target price on shares of Tesla in a research report on Monday. Finally, China Renaissance upgraded shares of Tesla from a “hold” rating to a “buy” rating and set a $290.00 target price for the company in a research report on Friday, July 5th. Nine investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $209.60.

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.