Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Legacy Financial Group Inc.

Legacy Financial Group Inc. decreased its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 23.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,098 shares of the electric vehicle producer’s stock after selling 344 shares during the quarter. Legacy Financial Group Inc.’s holdings in Tesla were worth $217,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of TSLA. DDFG Inc boosted its holdings in shares of Tesla by 7.1% during the fourth quarter. DDFG Inc now owns 1,065 shares of the electric vehicle producer’s stock valued at $265,000 after acquiring an additional 71 shares during the period. Vantage Financial Partners LLC lifted its holdings in Tesla by 6.4% in the fourth quarter. Vantage Financial Partners LLC now owns 5,763 shares of the electric vehicle producer’s stock worth $1,432,000 after purchasing an additional 346 shares during the period. Gilbert & Cook Inc. lifted its holdings in Tesla by 8.7% in the fourth quarter. Gilbert & Cook Inc. now owns 13,511 shares of the electric vehicle producer’s stock worth $3,357,000 after purchasing an additional 1,086 shares during the period. 9258 Wealth Management LLC lifted its holdings in Tesla by 1.1% in the fourth quarter. 9258 Wealth Management LLC now owns 6,165 shares of the electric vehicle producer’s stock worth $1,532,000 after purchasing an additional 69 shares during the period. Finally, Rollins Financial lifted its holdings in Tesla by 10.2% in the fourth quarter. Rollins Financial now owns 120,416 shares of the electric vehicle producer’s stock worth $29,921,000 after purchasing an additional 11,191 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on TSLA. Barclays reduced their price objective on shares of Tesla from $225.00 to $220.00 and set an “equal weight” rating for the company in a report on Thursday, July 25th. Stifel Nicolaus began coverage on shares of Tesla in a report on Tuesday, June 25th. They issued a “buy” rating and a $265.00 price objective for the company. Argus reaffirmed a “buy” rating and issued a $286.00 price objective on shares of Tesla in a report on Friday, July 26th. Wedbush reissued an “outperform” rating and issued a $300.00 price target on shares of Tesla in a report on Wednesday, July 24th. Finally, UBS Group downgraded shares of Tesla from a “neutral” rating to a “sell” rating and upped their price target for the company from $147.00 to $197.00 in a report on Friday, July 12th. Nine analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Tesla presently has an average rating of “Hold” and a consensus target price of $209.60.

Tesla Price Performance

Shares of TSLA opened at $227.87 on Wednesday. The company has a market capitalization of $726.72 billion, a price-to-earnings ratio of 58.13, a P/E/G ratio of 6.08 and a beta of 2.29. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week 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 business’s 50-day moving average is $222.16 and its 200-day moving average is $194.93.

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). Tesla had a return on equity of 10.41% and a net margin of 13.00%. The firm had revenue of $25.50 billion during the quarter, compared to analyst estimates of $24.38 billion. During the same quarter in the prior year, the company posted $0.78 EPS. The company’s quarterly revenue was up 2.3% on a year-over-year basis. Equities research analysts expect that Tesla, Inc. will post 1.75 EPS for the current fiscal year.

Insider Buying and Selling

In related news, 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 transaction, the senior vice president now owns 67,491 shares in the company, valued at $14,967,479.07. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Tesla news, SVP Xiaotong Zhu sold 297 shares of the company’s stock in a transaction that occurred 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 sale, the senior vice president now owns 67,491 shares of the company’s stock, 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 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 of the company’s stock, valued at approximately $18,696,600. The disclosure for this sale can be found here. 25.10% of the stock is currently owned by corporate insiders.

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.