Strait & Sound Wealth Management LLC Sells 250 Shares of Tesla, Inc. $TSLA

Strait & Sound Wealth Management LLC decreased its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 2.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,343 shares of the electric vehicle producer’s stock after selling 250 shares during the quarter. Tesla comprises approximately 1.3% of Strait & Sound Wealth Management LLC’s holdings, making the stock its 18th largest position. Strait & Sound Wealth Management LLC’s holdings in Tesla were worth $2,968,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. First Merchants Corp boosted its stake in Tesla by 1.3% during the 2nd quarter. First Merchants Corp now owns 2,413 shares of the electric vehicle producer’s stock valued at $767,000 after purchasing an additional 31 shares during the period. Alaska Wealth Advisors boosted its stake in Tesla by 3.4% during the 2nd quarter. Alaska Wealth Advisors now owns 985 shares of the electric vehicle producer’s stock valued at $313,000 after purchasing an additional 32 shares during the period. KWB Wealth boosted its stake in Tesla by 2.4% during the 2nd quarter. KWB Wealth now owns 1,381 shares of the electric vehicle producer’s stock valued at $439,000 after purchasing an additional 33 shares during the period. Conrad Siegel Investment Advisors Inc. boosted its stake in Tesla by 3.6% during the 2nd quarter. Conrad Siegel Investment Advisors Inc. now owns 976 shares of the electric vehicle producer’s stock valued at $310,000 after purchasing an additional 34 shares during the period. Finally, Guyasuta Investment Advisors Inc. raised its holdings in Tesla by 0.7% in the 2nd quarter. Guyasuta Investment Advisors Inc. now owns 5,107 shares of the electric vehicle producer’s stock valued at $1,622,000 after acquiring an additional 34 shares in the last quarter. Institutional investors own 66.20% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on TSLA shares. Baird R W raised Tesla from a “hold” rating to a “strong-buy” rating in a report on Friday, September 19th. Guggenheim reaffirmed a “sell” rating and issued a $175.00 price target on shares of Tesla in a report on Wednesday, July 23rd. Cantor Fitzgerald set a $510.00 target price on Tesla in a report on Thursday. Deutsche Bank Aktiengesellschaft increased their target price on Tesla from $435.00 to $440.00 and gave the stock a “buy” rating in a report on Thursday. Finally, BNP Paribas Exane started coverage on Tesla in a report on Thursday, October 16th. They issued an “underperform” rating and a $307.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating, twelve have issued a Hold rating and eleven have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $381.70.

Insider Buying and Selling at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 20,000 shares of the stock in a transaction 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 transaction, the senior vice president directly owned 47,600 shares in the company, valued at approximately $17,314,500. This trade represents a 29.59% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Vaibhav Taneja sold 2,606 shares of the firm’s stock in a transaction on Monday, September 8th. The stock was sold at an average price of $352.38, for a total value of $918,302.28. Following the completion of the transaction, the chief financial officer owned 9,856 shares in the company, valued at $3,473,057.28. This represents a 20.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 202,606 shares of company stock worth $75,588,902. Insiders own 19.90% of the company’s stock.

Tesla Trading Down 3.4%

TSLA stock opened at $433.72 on Friday. The stock has a market capitalization of $1.44 trillion, a price-to-earnings ratio of 289.15, a P/E/G ratio of 15.59 and a beta of 2.08. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.07 and a quick ratio of 1.55. The business has a fifty day moving average price of $398.06 and a 200 day moving average price of $340.74. Tesla, Inc. has a fifty-two week low of $214.25 and a fifty-two week high of $488.54.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, October 22nd. The electric vehicle producer reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.02. The firm had revenue of $28.10 billion for the quarter, compared to analyst estimates of $24.98 billion. Tesla had a return on equity of 6.61% and a net margin of 5.51%.The business’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same period last year, the company earned $0.72 EPS. Analysts expect that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

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.