Global Assets Advisory LLC Sells 16,922 Shares of Tesla, Inc. $TSLA

Global Assets Advisory LLC lessened its stake in Tesla, Inc. (NASDAQ:TSLA) by 56.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 12,859 shares of the electric vehicle producer’s stock after selling 16,922 shares during the quarter. Tesla makes up approximately 1.5% of Global Assets Advisory LLC’s portfolio, making the stock its 14th biggest holding. Global Assets Advisory LLC’s holdings in Tesla were worth $3,867,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Means Investment CO. Inc. lifted its position in shares of Tesla by 37.7% during the 1st quarter. Means Investment CO. Inc. now owns 23,089 shares of the electric vehicle producer’s stock valued at $5,984,000 after buying an additional 6,323 shares during the last quarter. Focus Financial Network Inc. lifted its holdings in Tesla by 3.1% during the first quarter. Focus Financial Network Inc. now owns 22,467 shares of the electric vehicle producer’s stock valued at $5,823,000 after purchasing an additional 670 shares during the last quarter. Siren L.L.C. purchased a new stake in Tesla during the first quarter valued at about $2,332,000. Zuckerman Investment Group LLC increased its stake in shares of Tesla by 6.9% in the first quarter. Zuckerman Investment Group LLC now owns 12,748 shares of the electric vehicle producer’s stock worth $3,304,000 after purchasing an additional 826 shares in the last quarter. Finally, Keystone Global Partners LLC bought a new stake in shares of Tesla in the first quarter valued at approximately $594,000. 66.20% of the stock is owned by institutional investors.

Tesla Price Performance

Shares of Tesla stock opened at $453.25 on Tuesday. The company’s fifty day simple moving average is $366.57 and its two-hundred day simple moving average is $324.02. Tesla, Inc. has a 12-month low of $212.11 and a 12-month high of $488.54. The firm has a market cap of $1.51 trillion, a PE ratio of 261.99, a price-to-earnings-growth ratio of 14.93 and a beta of 2.08. 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 (NASDAQ:TSLA) last posted 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 return on equity of 7.98% and a net margin of 6.54%.The business had revenue of $22.50 billion during the quarter, compared to the consensus estimate of $23.18 billion. During the same period in the previous year, the business earned $0.52 earnings per share. The firm’s revenue for the quarter was down 11.8% compared to the same quarter last year. As a group, equities analysts expect that Tesla, Inc. will post 2.56 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently commented on TSLA shares. Robert W. Baird raised shares of Tesla from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $320.00 to $548.00 in a report on Friday, September 19th. Deutsche Bank Aktiengesellschaft increased their price objective on Tesla from $345.00 to $435.00 and gave the stock a “buy” rating in a research report on Friday, September 26th. Mizuho lifted their target price on shares of Tesla from $375.00 to $450.00 and gave the company an “outperform” rating in a research report on Tuesday, September 23rd. Stifel Nicolaus set a $440.00 target price on Tesla in a research note on Friday, September 5th. Finally, Royal Bank Of Canada restated a “buy” rating on shares of Tesla in a report on Friday, September 26th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, thirteen have assigned a Hold rating and eight have issued a Sell rating to the stock. Based on data from MarketBeat, Tesla has a consensus rating of “Hold” and an average price target of $344.40.

Insider Activity at Tesla

In related news, SVP Xiaotong Zhu sold 20,000 shares of the firm’s stock in a transaction 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 $17,314,500. This trade represents a 29.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Vaibhav Taneja sold 2,606 shares of the business’s stock in a transaction on Monday, September 8th. The shares were sold at an average price of $352.38, for a total transaction of $918,302.28. Following the transaction, the chief financial officer directly owned 9,856 shares in the company, valued at approximately $3,473,057.28. The trade was a 20.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 202,606 shares of company stock worth $75,588,902 over the last quarter. 19.90% of the stock is 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.