Tesla, Inc. $TSLA Shares Sold by Beacon Investment Advisory Services Inc.

Beacon Investment Advisory Services Inc. cut its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 12.5% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 693 shares of the electric vehicle producer’s stock after selling 99 shares during the period. Beacon Investment Advisory Services Inc.’s holdings in Tesla were worth $220,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Cherry Tree Wealth Management LLC raised its holdings in Tesla by 86.3% during the first quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer’s stock worth $25,000 after purchasing an additional 44 shares in the last quarter. First PREMIER Bank raised its holdings in Tesla by 79.2% during the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer’s stock worth $25,000 after purchasing an additional 42 shares in the last quarter. Newton One Investments LLC raised its holdings in 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 purchasing an additional 75 shares in the last quarter. Arcadia Investment Management Corp MI bought a new stake in Tesla during the first quarter worth approximately $27,000. Finally, Chelsea Counsel Co. raised its holdings in Tesla by 59.7% during the first quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock worth $28,000 after purchasing an additional 40 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Tesla Price Performance

Shares of NASDAQ:TSLA opened at $423.39 on Friday. The company’s fifty day moving average is $349.83 and its two-hundred day moving average is $312.97. 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 12-month low of $212.11 and a 12-month high of $488.54. The company has a market cap of $1.41 trillion, a P/E ratio of 244.73, a price-to-earnings-growth ratio of 15.45 and a beta of 2.06.

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 the consensus estimate of $0.43 by ($0.03). Tesla had a net margin of 6.54% and a return on equity of 7.98%. The firm had revenue of $22.50 billion for the quarter, compared to analyst estimates of $23.18 billion. During the same period last year, the firm earned $0.52 earnings per share. Tesla’s revenue for the quarter was down 11.8% compared to the same quarter last year. Equities analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Activity

In other news, SVP Xiaotong Zhu sold 20,000 shares of the business’s stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the transaction, the senior vice president directly owned 47,600 shares in the company, valued at $17,314,500. The trade was a 29.59% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 transaction of $1,171,560.00. Following the transaction, the chief financial officer owned 5,924 shares in the company, valued at approximately $1,735,080.36. This represents a 40.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 208,606 shares of company stock worth $77,360,462 in the last ninety days. Corporate insiders own 19.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Morgan Stanley reaffirmed an “overweight” rating and issued a $410.00 price target on shares of Tesla in a report on Friday, September 5th. Argus reaffirmed a “hold” rating on shares of Tesla in a report on Monday, June 9th. HSBC reaffirmed a “reduce” rating and issued a $120.00 price target on shares of Tesla in a report on Thursday, July 3rd. Mizuho upped their price target on Tesla from $375.00 to $450.00 and gave the company an “outperform” rating in a report on Tuesday. Finally, Wedbush reaffirmed an “outperform” rating and issued a $500.00 price target on shares of Tesla in a report on Monday, September 15th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, twelve have issued a Hold rating and nine have given a Sell rating to the company’s stock. Based on data from MarketBeat, Tesla currently has an average rating of “Hold” and a consensus price target of $326.74.

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.