Denali Advisors LLC Sells 406 Shares of Tesla, Inc. $TSLA

Denali Advisors LLC reduced its holdings in Tesla, Inc. (NASDAQ:TSLA) by 1.3% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 30,708 shares of the electric vehicle producer’s stock after selling 406 shares during the quarter. Tesla accounts for about 1.0% of Denali Advisors LLC’s investment portfolio, making the stock its 15th largest position. Denali Advisors LLC’s holdings in Tesla were worth $9,755,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Arcadia Investment Management Corp MI bought a new position in shares of Tesla during the 1st quarter valued at about $27,000. Chelsea Counsel Co. increased its position in shares of Tesla by 59.7% during the 1st quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock valued at $28,000 after purchasing an additional 40 shares during the last quarter. Centennial Bank AR increased its position in shares of Tesla by 833.3% during the 1st quarter. Centennial Bank AR now owns 112 shares of the electric vehicle producer’s stock valued at $29,000 after purchasing an additional 100 shares during the last quarter. LGT Financial Advisors LLC bought a new position in shares of Tesla during the 2nd quarter valued at about $29,000. Finally, Compass Wealth Management LLC increased its position in shares of Tesla by 360.0% during the 1st quarter. Compass Wealth Management LLC now owns 115 shares of the electric vehicle producer’s stock valued at $30,000 after purchasing an additional 90 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, SVP Xiaotong Zhu sold 20,000 shares of the stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $363.75, for a total value of $7,275,000.00. Following the completion of the transaction, the senior vice president owned 47,600 shares of the company’s stock, valued at approximately $17,314,500. This represents a 29.59% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James R. Murdoch sold 60,000 shares of the stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $422.68, for a total value of $25,360,800.00. Following the completion of the transaction, the director directly owned 637,031 shares of the company’s stock, valued at $269,260,263.08. This represents a 8.61% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 202,606 shares of company stock worth $75,588,902. 19.90% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts have recently commented on TSLA shares. Canaccord Genuity Group increased their price objective on Tesla from $333.00 to $490.00 and gave the company a “buy” rating in a research report on Tuesday, September 30th. Robert W. Baird upgraded Tesla from a “neutral” rating to an “outperform” rating and increased their target price for the company from $320.00 to $548.00 in a report on Friday, September 19th. Stifel Nicolaus set a $483.00 target price on Tesla and gave the company a “buy” rating in a report on Wednesday, October 8th. Glj Research restated a “sell” rating on shares of Tesla in a report on Thursday, July 24th. Finally, JPMorgan Chase & Co. increased their target price on Tesla from $115.00 to $150.00 in a report on Friday, October 3rd. Two analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, twelve have assigned a Hold rating and ten have given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $363.54.

Tesla Trading Down 1.1%

NASDAQ TSLA opened at $442.60 on Wednesday. Tesla, Inc. has a fifty-two week low of $212.11 and a fifty-two week high of $488.54. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04. The stock has a 50 day simple moving average of $391.74 and a two-hundred day simple moving average of $336.26. The stock has a market cap of $1.47 trillion, a P/E ratio of 255.84, a price-to-earnings-growth ratio of 16.08 and a beta of 2.08.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.03). Tesla had a return on equity of 7.98% and a net margin of 6.54%.The business had revenue of $22.50 billion during the quarter, compared to analysts’ expectations of $23.18 billion. During the same quarter last year, the business posted $0.52 EPS. The company’s quarterly revenue was down 11.8% compared to the same quarter last year. On average, analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current year.

Tesla 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.