Tesla, Inc. $TSLA Shares Sold by Axis Wealth Partners LLC

Axis Wealth Partners LLC reduced its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 11.4% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 1,150 shares of the electric vehicle producer’s stock after selling 148 shares during the period. Axis Wealth Partners LLC’s holdings in Tesla were worth $365,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cherry Tree Wealth Management LLC grew its position in shares of Tesla by 86.3% during 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 grew its position in shares of Tesla by 79.2% during the 1st quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer’s stock valued at $25,000 after acquiring an additional 42 shares during the period. Arcadia Investment Management Corp MI acquired a new stake in shares of Tesla during the 1st quarter valued at about $27,000. Newton One Investments LLC grew its position in shares of Tesla by 250.0% during the 1st quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer’s stock valued at $27,000 after acquiring an additional 75 shares during the period. Finally, Chelsea Counsel Co. grew its position in shares of Tesla by 59.7% during the 1st quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock valued at $28,000 after acquiring an additional 40 shares during the period. 66.20% of the stock is owned by institutional investors and hedge funds.

Tesla Stock Down 1.9%

Shares of NASDAQ TSLA opened at $425.85 on Wednesday. The firm has a market cap of $1.42 trillion, a price-to-earnings ratio of 246.16, a PEG ratio of 15.15 and a beta of 2.06. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a 52-week low of $212.11 and a 52-week high of $488.54. The business’s 50 day moving average is $345.33 and its two-hundred day moving average is $310.67.

Tesla (NASDAQ:TSLA) last announced 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). The firm had revenue of $22.50 billion during the quarter, compared to analysts’ expectations of $23.18 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. The firm’s revenue for the quarter was down 11.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.52 EPS. Research analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on TSLA. Guggenheim restated a “sell” rating and set a $175.00 target price on shares of Tesla in a research report on Wednesday, July 23rd. Argus reiterated a “hold” rating on shares of Tesla in a report on Monday, June 9th. Dbs Bank lifted their price objective on Tesla from $300.00 to $450.00 in a report on Wednesday, September 17th. CICC Research lifted their price objective on Tesla from $360.00 to $450.00 and gave the stock an “outperform” rating in a report on Thursday, September 18th. Finally, Robert W. Baird upgraded Tesla from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $320.00 to $548.00 in a report on Friday, September 19th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, twelve have given a Hold rating and nine have issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $326.74.

Insiders Place Their Bets

In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of the business’s stock in a transaction on Monday, July 7th. The shares were sold at an average price of $292.89, for a total value of $1,171,560.00. Following the completion of the transaction, the chief financial officer owned 5,924 shares in the company, valued at $1,735,080.36. The trade was a 40.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Xiaotong Zhu sold 20,000 shares of the business’s stock in a transaction on 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 transaction, the senior vice president owned 47,600 shares of the company’s stock, valued at approximately $17,314,500. This trade represents a 29.59% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 208,606 shares of company stock worth $77,360,462 over the last 90 days. Corporate insiders own 19.90% of the company’s stock.

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.