Tesla, Inc. $TSLA Shares Sold by TBH Global Asset Management LLC

TBH Global Asset Management LLC lowered its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 2.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,854 shares of the electric vehicle producer’s stock after selling 123 shares during the period. TBH Global Asset Management LLC’s holdings in Tesla were worth $1,542,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. Conrad Siegel Investment Advisors Inc. boosted its holdings in shares of Tesla by 3.6% in the 2nd quarter. Conrad Siegel Investment Advisors Inc. now owns 976 shares of the electric vehicle producer’s stock valued at $310,000 after purchasing an additional 34 shares during the last quarter. Acorn Wealth Advisors LLC increased its stake in Tesla by 1.9% during the first quarter. Acorn Wealth Advisors LLC now owns 1,901 shares of the electric vehicle producer’s stock worth $493,000 after acquiring an additional 36 shares during the last quarter. Solutions 4 Wealth Ltd grew its holdings in shares of Tesla by 2.0% during the 1st quarter. Solutions 4 Wealth Ltd now owns 1,815 shares of the electric vehicle producer’s stock worth $470,000 after purchasing an additional 36 shares during the period. ACT Wealth Management LLC raised its holdings in Tesla by 0.7% in the second quarter. ACT Wealth Management LLC now owns 5,405 shares of the electric vehicle producer’s stock valued at $1,717,000 after buying an additional 36 shares during the period. Finally, Capital Management Associates Inc increased its position in shares of Tesla by 3.4% in the first quarter. Capital Management Associates Inc now owns 1,166 shares of the electric vehicle producer’s stock worth $302,000 after acquiring an additional 38 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Wall Street Analyst Weigh In

TSLA has been the topic of a number of recent research reports. The Goldman Sachs Group boosted their price objective on Tesla from $300.00 to $395.00 and gave the stock a “neutral” rating in a research note on Thursday, September 18th. William Blair reissued a “market perform” rating on shares of Tesla in a report on Friday, September 5th. Wedbush lifted their price objective on Tesla from $500.00 to $600.00 and gave the stock an “outperform” rating in a report on Friday. Mizuho raised their price target on shares of Tesla from $375.00 to $450.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 23rd. Finally, Needham & Company LLC restated a “hold” rating on shares of Tesla in a research note on Thursday, July 24th. 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 issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $332.33.

Tesla Stock Up 4.0%

NASDAQ TSLA opened at $440.40 on Monday. 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 company has a market capitalization of $1.46 trillion, a P/E ratio of 254.57, a PEG ratio of 15.36 and a beta of 2.06. Tesla, Inc. has a 12 month low of $212.11 and a 12 month high of $488.54. The company’s 50 day simple moving average is $352.05 and its 200 day simple moving average is $315.40.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). The company 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 for the quarter was down 11.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.52 EPS. Equities research analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, SVP Xiaotong Zhu sold 20,000 shares of the business’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 owned 47,600 shares of the company’s stock, valued at approximately $17,314,500. The trade was a 29.59% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director James R. Murdoch sold 60,000 shares of the stock in a transaction 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 transaction, the director owned 637,031 shares in the company, valued at approximately $269,260,263.08. This trade represents a 8.61% 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 in the last quarter. 19.90% of the stock is currently owned by corporate insiders.

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.