Strategic Advocates LLC Sells 60 Shares of Tesla, Inc. $TSLA

Strategic Advocates LLC decreased its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 0.4% in the 2nd quarter, HoldingsChannel reports. The firm owned 14,011 shares of the electric vehicle producer’s stock after selling 60 shares during the quarter. Tesla accounts for 1.3% of Strategic Advocates LLC’s portfolio, making the stock its 15th largest holding. Strategic Advocates LLC’s holdings in Tesla were worth $4,451,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Cherry Tree Wealth Management LLC lifted its holdings in shares of Tesla by 86.3% in the first quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer’s stock worth $25,000 after acquiring an additional 44 shares during the last quarter. First PREMIER Bank lifted its holdings in shares of Tesla by 79.2% in the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer’s stock worth $25,000 after acquiring an additional 42 shares during the last quarter. Newton One Investments LLC lifted its holdings in shares of Tesla by 250.0% in the first quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer’s stock worth $27,000 after acquiring an additional 75 shares during the last quarter. Arcadia Investment Management Corp MI bought a new position in shares of Tesla in the first quarter worth about $27,000. Finally, Chelsea Counsel Co. lifted its holdings in shares of Tesla by 59.7% in the first quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock worth $28,000 after acquiring an additional 40 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on TSLA shares. HSBC reissued a “reduce” rating and issued a $120.00 target price on shares of Tesla in a report on Thursday, July 3rd. Bank of America increased their target price on shares of Tesla from $305.00 to $341.00 and gave the stock a “neutral” rating in a report on Monday, July 21st. Stifel Nicolaus set a $440.00 price objective on shares of Tesla in a report on Friday, September 5th. Canaccord Genuity Group raised their price objective on shares of Tesla from $303.00 to $333.00 and gave the company a “buy” rating in a report on Thursday, July 24th. Finally, Benchmark reiterated a “buy” rating and issued a $475.00 price objective (up previously from $350.00) on shares of Tesla in a report on Thursday, June 26th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, fourteen have assigned a Hold rating and nine have assigned a Sell rating to the company. Based on data from MarketBeat.com, Tesla has an average rating of “Hold” and an average price target of $303.00.

Insiders Place Their Bets

In other Tesla news, SVP Xiaotong Zhu sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the completion of the transaction, the senior vice president owned 47,600 shares in the company, valued at approximately $17,314,500. This trade represents a 29.59% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director James R. Murdoch sold 120,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $350.29, for a total transaction of $42,034,800.00. Following the transaction, the director owned 697,031 shares of the company’s stock, valued at approximately $244,162,988.99. The trade was a 14.69% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 148,606 shares of company stock worth $51,999,662. 20.70% of the stock is currently owned by insiders.

Tesla Stock Up 3.6%

Tesla stock opened at $410.04 on Tuesday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04. Tesla, Inc. has a 52-week low of $212.11 and a 52-week high of $488.54. The firm has a 50 day moving average price of $331.21 and a two-hundred day moving average price of $304.53. The firm has a market cap of $1.32 trillion, a price-to-earnings ratio of 237.02, a PEG ratio of 13.81 and a beta of 2.06.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) 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 firm had revenue of $22.50 billion for the quarter, compared to the consensus estimate of $23.18 billion. During the same quarter in the previous year, the business posted $0.52 EPS. The firm’s revenue for the quarter was down 11.8% compared to the same quarter last year. Equities analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

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.