Tesla, Inc. $TSLA Shares Sold by Fortis Capital Advisors LLC

Fortis Capital Advisors LLC cut its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 6.9% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 14,154 shares of the electric vehicle producer’s stock after selling 1,044 shares during the quarter. Tesla comprises about 0.8% of Fortis Capital Advisors LLC’s investment portfolio, making the stock its 24th largest position. Fortis Capital Advisors LLC’s holdings in Tesla were worth $4,496,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. 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 valued at $25,000 after acquiring an additional 44 shares during the last quarter. First PREMIER Bank grew its stake in Tesla by 79.2% in 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 last quarter. Newton One Investments LLC grew its stake in Tesla by 250.0% in 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 last quarter. Arcadia Investment Management Corp MI acquired a new stake in Tesla in the 1st quarter valued at about $27,000. Finally, Chelsea Counsel Co. grew its stake in Tesla by 59.7% in 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 last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Tesla Stock Performance

Tesla stock opened at $429.83 on Friday. The company has a fifty day moving average price of $364.02 and a two-hundred day moving average price of $321.99. The company has a market cap of $1.43 trillion, a PE ratio of 248.46, a P/E/G ratio of 14.93 and a beta of 2.08. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55. Tesla, Inc. has a 12 month low of $212.11 and a 12 month 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 firm had revenue of $22.50 billion for the quarter, compared to the consensus estimate of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%.The firm’s revenue was down 11.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.52 EPS. Research analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Vaibhav Taneja sold 2,606 shares of the company’s stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $352.38, for a total value of $918,302.28. Following the completion of the sale, the chief financial officer owned 9,856 shares of the company’s stock, valued at $3,473,057.28. This represents a 20.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director James R. Murdoch sold 60,000 shares of the company’s stock in a transaction dated 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 completion of the sale, the director directly owned 637,031 shares of the company’s stock, valued at $269,260,263.08. The trade was a 8.61% decrease in their position. The disclosure for this sale can be found here. Insiders sold 208,606 shares of company stock valued at $77,360,462 over the last 90 days. 19.90% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have issued reports on TSLA. Bank of America raised their price target on shares of Tesla from $305.00 to $341.00 and gave the stock a “neutral” rating in a research note on Monday, July 21st. Piper Sandler raised their price target on shares of Tesla from $400.00 to $500.00 and gave the stock an “overweight” rating in a research note on Monday, September 22nd. Guggenheim reiterated a “sell” rating and set a $175.00 price objective on shares of Tesla in a report on Wednesday, July 23rd. Dbs Bank increased their price objective on shares of Tesla from $300.00 to $450.00 in a report on Wednesday, September 17th. Finally, HSBC lifted their price target on shares of Tesla from $120.00 to $127.00 in a research report on Monday, September 29th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, thirteen have assigned a Hold rating and eight have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $343.43.

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.