Trek Financial LLC Sells 9,044 Shares of Tesla, Inc. $TSLA

Trek Financial LLC decreased its position in Tesla, Inc. (NASDAQ:TSLA) by 37.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,872 shares of the electric vehicle producer’s stock after selling 9,044 shares during the quarter. Trek Financial LLC’s holdings in Tesla were worth $4,724,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Chelsea Counsel Co. boosted its holdings in Tesla by 59.7% in 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 period. LGT Financial Advisors LLC acquired a new position in Tesla in the second quarter valued at about $29,000. Evergreen Private Wealth LLC lifted its position in Tesla by 270.0% during the second quarter. Evergreen Private Wealth LLC now owns 111 shares of the electric vehicle producer’s stock worth $35,000 after purchasing an additional 81 shares during the period. Glynn Capital Management LLC acquired a new stake in Tesla during the second quarter worth about $35,000. Finally, LSV Asset Management increased its holdings in Tesla by 400.0% in the 2nd quarter. LSV Asset Management now owns 120 shares of the electric vehicle producer’s stock valued at $38,000 after buying an additional 96 shares during the period. 66.20% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

TSLA has been the topic of several analyst reports. Melius assumed coverage on shares of Tesla in a research report on Monday, October 13th. They set a “buy” rating and a $520.00 price target on the stock. William Blair restated a “market perform” rating on shares of Tesla in a research note on Friday, September 5th. Glj Research reiterated a “sell” rating on shares of Tesla in a research note on Wednesday, October 22nd. Morgan Stanley reissued an “overweight” rating on shares of Tesla in a report on Wednesday, October 15th. Finally, Bank of America raised their price objective on Tesla from $341.00 to $471.00 and gave the company a “neutral” rating in a research note on Wednesday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, thirteen have given a Hold rating and nine have issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $398.92.

Tesla Price Performance

Tesla stock opened at $429.24 on Wednesday. The stock has a 50-day moving average price of $433.94 and a two-hundred day moving average price of $370.52. Tesla, Inc. has a 12 month low of $214.25 and a 12 month high of $488.54. The company has a market capitalization of $1.43 trillion, a PE ratio of 286.16, a P/E/G ratio of 16.84 and a beta of 2.06. The company has a current ratio of 2.07, a quick ratio of 1.67 and a debt-to-equity ratio of 0.07.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.02. The company had revenue of $28.10 billion during the quarter, compared to the consensus estimate of $24.98 billion. Tesla had a return on equity of 6.61% and a net margin of 5.51%.The firm’s revenue was up 11.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.72 earnings per share. Analysts expect that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Buying and Selling at Tesla

In related news, Director James R. Murdoch sold 60,000 shares of the stock in a transaction 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 sale, the director directly owned 637,031 shares in the company, valued at $269,260,263.08. This represents a 8.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Xiaotong Zhu sold 20,000 shares of the firm’s 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 of the company’s stock, valued at approximately $17,314,500. This represents a 29.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 82,606 shares of company stock worth $33,554,102. 19.90% of the stock is currently owned by company insiders.

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.