Xcel Wealth Management LLC Reduces Stock Position in Tesla, Inc. $TSLA

Xcel Wealth Management LLC decreased its holdings in Tesla, Inc. (NASDAQ:TSLA) by 1.2% during the second quarter, HoldingsChannel.com reports. The firm owned 10,996 shares of the electric vehicle producer’s stock after selling 136 shares during the quarter. Tesla makes up about 1.0% of Xcel Wealth Management LLC’s holdings, making the stock its 27th biggest holding. Xcel Wealth Management LLC’s holdings in Tesla were worth $3,493,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Cherry Tree Wealth Management LLC grew its stake in Tesla by 86.3% in the 1st quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer’s stock worth $25,000 after acquiring an additional 44 shares in the last quarter. First PREMIER Bank grew its stake in Tesla by 79.2% in 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 increased its holdings in Tesla by 250.0% during the 1st 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 during the period. Arcadia Investment Management Corp MI bought a new stake in Tesla during the 1st quarter valued at $27,000. Finally, Chelsea Counsel Co. raised its position in 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 purchasing an additional 40 shares in the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Tesla

In related news, SVP Xiaotong Zhu sold 20,000 shares of the stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $363.75, for a total value of $7,275,000.00. Following the completion of the transaction, the senior vice president directly owned 47,600 shares of the company’s stock, valued at $17,314,500. This trade represents a 29.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Vaibhav Taneja sold 2,606 shares of the business’s stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $352.38, for a total transaction of $918,302.28. Following the sale, the chief financial officer directly owned 9,856 shares in the company, valued at approximately $3,473,057.28. This represents a 20.91% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 208,606 shares of company stock worth $77,360,462. 19.90% of the stock is owned by insiders.

Tesla Trading Down 4.4%

NASDAQ:TSLA opened at $423.39 on Friday. The stock has a market capitalization of $1.41 trillion, a price-to-earnings ratio of 244.73, a PEG ratio of 15.45 and a beta of 2.06. Tesla, Inc. has a 52 week low of $212.11 and a 52 week high of $488.54. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07. The firm has a 50 day moving average of $349.83 and a 200 day moving average of $312.97.

Tesla (NASDAQ:TSLA) last issued its quarterly 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 business had revenue of $22.50 billion for the quarter, compared to analyst estimates of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%.The business’s revenue for the quarter was down 11.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.52 earnings per share. As a group, sell-side analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. China Renaissance restated a “hold” rating and set a $349.00 price target on shares of Tesla in a research note on Friday, July 25th. UBS Group reiterated a “sell” rating on shares of Tesla in a report on Monday. Canaccord Genuity Group boosted their price target on shares of Tesla from $303.00 to $333.00 and gave the company a “buy” rating in a report on Thursday, July 24th. Baird R W upgraded shares of Tesla from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 19th. Finally, Robert W. Baird raised shares of Tesla from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $320.00 to $548.00 in a report on Friday, September 19th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, twelve have given a Hold rating and nine have given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $326.74.

About Tesla

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.