Sterling Investment Advisors Ltd. Has $1.59 Million Holdings in Tesla, Inc. (NASDAQ:TSLA)

Sterling Investment Advisors Ltd. trimmed its position in Tesla, Inc. (NASDAQ:TSLA) by 1.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,137 shares of the electric vehicle producer’s stock after selling 98 shares during the quarter. Sterling Investment Advisors Ltd.’s holdings in Tesla were worth $1,590,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TSLA. Rinkey Investments boosted its position in shares of Tesla by 3.5% during the 4th quarter. Rinkey Investments now owns 860 shares of the electric vehicle producer’s stock valued at $347,000 after acquiring an additional 29 shares in the last quarter. True Wealth Design LLC boosted its holdings in Tesla by 79.5% during the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer’s stock valued at $28,000 after purchasing an additional 31 shares in the last quarter. Aldebaran Financial Inc. grew its stake in shares of Tesla by 3.1% in the 4th quarter. Aldebaran Financial Inc. now owns 1,174 shares of the electric vehicle producer’s stock valued at $490,000 after purchasing an additional 35 shares during the period. Acorn Wealth Advisors LLC raised its holdings in shares of Tesla by 1.9% in the 1st quarter. Acorn Wealth Advisors LLC now owns 1,901 shares of the electric vehicle producer’s stock worth $493,000 after buying an additional 36 shares in the last quarter. Finally, Capital Management Associates Inc lifted its position in shares of Tesla by 3.4% during the 1st quarter. Capital Management Associates Inc now owns 1,166 shares of the electric vehicle producer’s stock worth $302,000 after buying an additional 38 shares during the period. 66.20% of the stock is owned by institutional investors.

Insider Transactions at Tesla

In related news, CFO Vaibhav Taneja sold 2,000 shares of the company’s stock in a transaction dated Tuesday, July 8th. The shares were sold at an average price of $300.00, for a total value of $600,000.00. Following the transaction, the chief financial officer directly owned 5,924 shares in the company, valued at approximately $1,777,200. This represents a 25.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Kimbal Musk sold 91,588 shares of Tesla 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 owned 1,463,220 shares of the company’s stock, valued at $522,940,195.80. This trade represents a 5.89% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 835,509 shares of company stock valued at $279,420,485. Company insiders own 20.70% of the company’s stock.

Analysts Set New Price Targets

TSLA has been the topic of a number of analyst reports. BNP Paribas set a $137.00 price target on Tesla and gave the company an “underperform” rating in a research report on Wednesday, April 16th. Argus reaffirmed a “hold” rating on shares of Tesla in a report on Monday, June 9th. UBS Group set a $290.00 target price on shares of Tesla in a research report on Monday, June 30th. Guggenheim restated a “sell” rating and issued a $175.00 price target on shares of Tesla in a research report on Wednesday. Finally, Canaccord Genuity Group raised their price objective on shares of Tesla from $303.00 to $333.00 and gave the stock a “buy” rating in a report on Thursday. Ten research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $302.75.

Tesla Stock Performance

Shares of TSLA stock opened at $316.06 on Friday. Tesla, Inc. has a 52 week low of $182.00 and a 52 week high of $488.54. The company has a market capitalization of $1.02 trillion, a price-to-earnings ratio of 182.69, a PEG ratio of 12.00 and a beta of 2.39. The company has a 50-day simple moving average of $324.70 and a 200 day simple moving average of $314.09. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.54 and a current ratio of 2.04.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data 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 company had revenue of $22.50 billion for the quarter, compared to analyst estimates of $23.18 billion. During the same quarter last year, the business earned $0.52 earnings per share. The company’s revenue was down 11.8% on a year-over-year basis. On average, sell-side analysts predict that Tesla, Inc. will post 2.56 earnings per share 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.