ACT Advisors LLC. Sells 88 Shares of Tesla, Inc. $TSLA

ACT Advisors LLC. lowered its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 6.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,211 shares of the electric vehicle producer’s stock after selling 88 shares during the quarter. ACT Advisors LLC.’s holdings in Tesla were worth $385,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of TSLA. Cherry Tree Wealth Management LLC boosted its stake 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 purchasing an additional 44 shares in the last quarter. First PREMIER Bank boosted its stake in shares of 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 in the last quarter. Newton One Investments LLC boosted its stake in shares of Tesla by 250.0% in the 1st quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer’s stock valued at $27,000 after purchasing an additional 75 shares in the last quarter. Arcadia Investment Management Corp MI acquired a new stake in shares of Tesla in the 1st quarter valued at $27,000. Finally, Chelsea Counsel Co. boosted its stake in shares of 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 in the last quarter. Institutional investors own 66.20% of the company’s stock.

Insider Buying and Selling

In related news, Director James R. Murdoch sold 60,000 shares of the stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $422.68, for a total transaction of $25,360,800.00. Following the completion of the sale, the director directly owned 637,031 shares of the company’s stock, valued at approximately $269,260,263.08. This represents a 8.61% 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, CFO Vaibhav Taneja sold 2,606 shares of the stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $352.38, for a total value of $918,302.28. Following the sale, the chief financial officer directly owned 9,856 shares of the company’s stock, valued at approximately $3,473,057.28. The trade was a 20.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 208,606 shares of company stock valued at $77,360,462. 19.90% of the stock is owned by corporate insiders.

Tesla Stock Performance

Shares of TSLA stock opened at $434.21 on Tuesday. The stock has a 50-day moving average of $343.03 and a 200-day moving average of $309.87. Tesla, Inc. has a one year low of $212.11 and a one year high of $488.54. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55. The stock has a market cap of $1.44 trillion, a PE ratio of 250.99, a price-to-earnings-growth ratio of 14.86 and a beta of 2.06.

Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). Tesla had a return on equity of 7.98% and a net margin of 6.54%.The business had revenue of $22.50 billion for the quarter, compared to the consensus estimate of $23.18 billion. During the same period in the previous year, the company posted $0.52 earnings per share. Tesla’s revenue for the quarter was down 11.8% compared to the same quarter last year. As a group, sell-side analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current year.

Wall Street Analyst Weigh In

TSLA has been the topic of several recent analyst reports. Canaccord Genuity Group boosted their target price on shares of Tesla from $303.00 to $333.00 and gave the company a “buy” rating in a research note on Thursday, July 24th. Bank of America boosted their target price on shares of Tesla from $305.00 to $341.00 and gave the company a “neutral” rating in a research note on Monday, July 21st. Mizuho reduced their target price on shares of Tesla from $390.00 to $375.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 8th. Baird R W upgraded shares of Tesla from a “hold” rating to a “strong-buy” rating in a research report on Friday. Finally, Morgan Stanley reiterated an “overweight” rating and set a $410.00 price target on shares of Tesla in a research report on Friday, September 5th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, twelve have assigned a Hold rating and nine have given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $324.53.

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.