Tesla, Inc. $TSLA Shares Sold by Burr Financial Services LLC

Burr Financial Services LLC lowered its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 94.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,438 shares of the electric vehicle producer’s stock after selling 26,383 shares during the quarter. Tesla makes up about 0.4% of Burr Financial Services LLC’s holdings, making the stock its 19th biggest position. Burr Financial Services LLC’s holdings in Tesla were worth $457,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Cherry Tree Wealth Management LLC increased its holdings in shares of Tesla by 86.3% in the 1st quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer’s stock valued at $25,000 after acquiring an additional 44 shares during the period. First PREMIER Bank raised its position in Tesla by 79.2% in the 1st quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer’s stock valued at $25,000 after purchasing an additional 42 shares during the last quarter. Pacific Center for Financial Services raised its holdings in shares of Tesla by 1,616.7% in the fourth quarter. Pacific Center for Financial Services now owns 103 shares of the electric vehicle producer’s stock valued at $42,000 after buying an additional 97 shares during the last quarter. Arcadia Investment Management Corp MI acquired a new stake in shares of Tesla during the first quarter worth about $27,000. Finally, Newton One Investments LLC boosted its stake in shares of Tesla by 250.0% during the first quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer’s stock worth $27,000 after buying an additional 75 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insiders Place Their Bets

In related news, Director James R. Murdoch sold 120,000 shares of the business’s stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $350.29, for a total value of $42,034,800.00. Following the sale, the director directly owned 697,031 shares in the company, valued at $244,162,988.99. The trade was a 14.69% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Xiaotong Zhu sold 20,000 shares of the business’s stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the completion of the sale, the senior vice president owned 47,600 shares in the company, valued at $17,314,500. This represents a 29.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 148,606 shares of company stock worth $51,999,662. Corporate insiders own 20.70% of the company’s stock.

Tesla Price Performance

Shares of NASDAQ TSLA opened at $410.04 on Tuesday. The firm has a market capitalization of $1.32 trillion, a P/E ratio of 237.02, a PEG ratio of 13.81 and a beta of 2.06. Tesla, Inc. has a one year low of $212.11 and a one year high of $488.54. The company’s fifty day moving average is $331.21 and its two-hundred day moving average is $304.53. 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 (NASDAQ:TSLA) last issued its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.03). The company had revenue of $22.50 billion for the quarter, compared to analysts’ expectations of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%.Tesla’s revenue for the quarter was down 11.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.52 earnings per share. Analysts forecast that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Analysts Set New Price Targets

TSLA has been the subject of several recent research reports. Royal Bank Of Canada reiterated an “overweight” rating on shares of Tesla in a research note on Tuesday, July 29th. Morgan Stanley reiterated an “overweight” rating and set a $410.00 target price on shares of Tesla in a research note on Friday, September 5th. Bank of America lifted their price objective on shares of Tesla from $305.00 to $341.00 and gave the company a “neutral” rating in a research report on Monday, July 21st. HSBC reiterated a “reduce” rating and issued a $120.00 price objective on shares of Tesla in a research report on Thursday, July 3rd. Finally, Wedbush reiterated an “outperform” rating and issued a $500.00 price objective on shares of Tesla in a research report on Monday. One research 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 issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $303.00.

Tesla 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.