Ameritas Advisory Services LLC Has $6.75 Million Stake in Tesla, Inc. (NASDAQ:TSLA)

Ameritas Advisory Services LLC reduced its holdings in Tesla, Inc. (NASDAQ:TSLA) by 54.7% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 26,043 shares of the electric vehicle producer’s stock after selling 31,510 shares during the quarter. Ameritas Advisory Services LLC’s holdings in Tesla were worth $6,749,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in TSLA. Wealth Group Ltd. acquired a new position in Tesla during the 4th quarter valued at $275,000. Tallon Kerry Patrick bought a new position in shares of Tesla during the 4th quarter worth about $374,000. Eagle Capital Management LLC acquired a new position in shares of Tesla during the fourth quarter valued at about $331,000. Brighton Jones LLC lifted its stake in shares of Tesla by 11.8% in the fourth quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer’s stock valued at $35,509,000 after buying an additional 9,293 shares during the period. Finally, Revolve Wealth Partners LLC grew its position in Tesla by 21.2% during the fourth quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer’s stock worth $2,147,000 after buying an additional 931 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

TSLA has been the subject of several recent research reports. Bank of America cut their price target on Tesla from $490.00 to $380.00 and set a “neutral” rating for the company in a report on Tuesday, March 4th. Raymond James Financial cut Tesla to an “outperform” rating in a research report on Tuesday, April 22nd. Stifel Nicolaus set a $450.00 target price on Tesla and gave the stock a “buy” rating in a research report on Thursday, April 24th. Canaccord Genuity Group reissued a “buy” rating and issued a $303.00 price target on shares of Tesla in a report on Monday. Finally, Cantor Fitzgerald dropped their price objective on shares of Tesla from $425.00 to $355.00 and set an “overweight” rating for the company in a research note on Wednesday, April 23rd. Ten research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $298.37.

Insiders Place Their Bets

In other Tesla news, Director Kimbal Musk sold 91,588 shares of the business’s stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $357.39, for a total transaction of $32,732,635.32. Following the completion of the sale, the director directly owned 1,463,220 shares of the company’s stock, valued at approximately $522,940,195.80. The trade was a 5.89% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Vaibhav Taneja sold 6,000 shares of the firm’s stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $341.02, for a total transaction of $2,046,120.00. Following the completion of the transaction, the chief financial officer directly owned 1,950 shares in the company, valued at $664,989. This trade represents a 75.47% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 833,509 shares of company stock valued at $278,648,925 over the last 90 days. Corporate insiders own 20.70% of the company’s stock.

Tesla Price Performance

TSLA opened at $317.66 on Tuesday. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.00 and a quick ratio of 1.54. The stock has a market capitalization of $1.02 trillion, a P/E ratio of 174.54, a price-to-earnings-growth ratio of 12.20 and a beta of 2.47. The company’s 50 day simple moving average is $316.73 and its 200-day simple moving average is $328.38. Tesla, Inc. has a one year low of $182.00 and a one year high of $488.54.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.26). The firm had revenue of $19.34 billion during the quarter, compared to the consensus estimate of $22.93 billion. Tesla had a net margin of 6.66% and a return on equity of 9.02%. During the same quarter in the previous year, the business posted $0.45 earnings per share. Sell-side analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal 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.