Vestia Personal Wealth Advisors Sells 232 Shares of Tesla, Inc. $TSLA

Vestia Personal Wealth Advisors cut its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 8.1% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 2,645 shares of the electric vehicle producer’s stock after selling 232 shares during the quarter. Vestia Personal Wealth Advisors’ holdings in Tesla were worth $840,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Goldman Sachs Group Inc. lifted its position in Tesla by 322.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer’s stock worth $6,891,201,000 after acquiring an additional 20,291,139 shares during the period. Nuveen LLC purchased a new stake in shares of Tesla in the first quarter valued at approximately $3,247,619,000. Kingstone Capital Partners Texas LLC lifted its holdings in Tesla by 581,880.5% in the second quarter. Kingstone Capital Partners Texas LLC now owns 6,436,704 shares of the electric vehicle producer’s stock valued at $2,044,683,000 after acquiring an additional 6,435,598 shares during the last quarter. Amundi lifted its holdings in Tesla by 29.4% in the first quarter. Amundi now owns 16,771,882 shares of the electric vehicle producer’s stock valued at $4,482,789,000 after acquiring an additional 3,814,610 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in Tesla by 1.5% in the first quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer’s stock valued at $63,983,418,000 after acquiring an additional 3,694,524 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Vaibhav Taneja sold 4,000 shares of the company’s stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $292.89, for a total transaction of $1,171,560.00. Following the sale, the chief financial officer directly owned 5,924 shares in the company, valued at $1,735,080.36. This represents a 40.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Xiaotong Zhu sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $363.75, for a total value of $7,275,000.00. Following the completion of the sale, the senior vice president directly owned 47,600 shares of the company’s stock, valued at approximately $17,314,500. This represents a 29.59% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 208,606 shares of company stock valued at $77,360,462 in the last three months. 19.90% of the stock is currently owned by insiders.

Tesla Stock Up 4.0%

Shares of NASDAQ TSLA opened at $440.40 on Friday. The firm has a 50 day moving average price of $352.05 and a 200 day moving average price of $314.88. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04. The stock has a market cap of $1.46 trillion, a P/E ratio of 254.57, a P/E/G ratio of 15.36 and a beta of 2.06. Tesla, Inc. has a 52-week low of $212.11 and a 52-week high of $488.54.

Tesla (NASDAQ:TSLA) last released its quarterly 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 business had revenue of $22.50 billion during the quarter, compared to analyst estimates of $23.18 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. The company’s revenue was down 11.8% on a year-over-year basis. During the same quarter last year, the company posted $0.52 earnings per share. Analysts expect that Tesla, Inc. will post 2.56 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have commented on TSLA shares. Daiwa Capital Markets restated a “neutral” rating on shares of Tesla in a research note on Sunday, July 27th. Guggenheim reissued a “sell” rating and set a $175.00 price target on shares of Tesla in a report on Wednesday, July 23rd. William Blair reiterated a “market perform” rating on shares of Tesla in a research report on Friday, September 5th. CICC Research increased their price target on Tesla from $360.00 to $450.00 and gave the stock an “outperform” rating in a research note on Thursday, September 18th. Finally, Canaccord Genuity Group upped their price target on shares of Tesla from $303.00 to $333.00 and gave the stock a “buy” rating in a research report on Thursday, July 24th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, twelve have issued a Hold rating and nine have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $332.33.

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.