Liberty Wealth Management LLC Cuts Stock Holdings in Tesla, Inc. $TSLA

Liberty Wealth Management LLC lowered its stake in Tesla, Inc. (NASDAQ:TSLA) by 25.5% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 15,687 shares of the electric vehicle producer’s stock after selling 5,376 shares during the quarter. Liberty Wealth Management LLC’s holdings in Tesla were worth $4,983,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Arcadia Investment Management Corp MI bought a new position in Tesla during the first quarter valued at approximately $27,000. Chelsea Counsel Co. raised its holdings in shares of Tesla by 59.7% during the 1st quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock worth $28,000 after acquiring an additional 40 shares in the last quarter. Centennial Bank AR boosted its position in shares of Tesla by 833.3% during the 1st quarter. Centennial Bank AR now owns 112 shares of the electric vehicle producer’s stock valued at $29,000 after acquiring an additional 100 shares during the last quarter. LGT Financial Advisors LLC purchased a new position in shares of Tesla in the second quarter valued at $29,000. Finally, Compass Wealth Management LLC increased its position in Tesla by 360.0% in the first quarter. Compass Wealth Management LLC now owns 115 shares of the electric vehicle producer’s stock worth $30,000 after purchasing an additional 90 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Barclays reiterated a “negative” rating and set a $350.00 price objective (up previously from $275.00) on shares of Tesla in a research report on Thursday, October 16th. The Goldman Sachs Group lowered their price target on shares of Tesla from $425.00 to $400.00 and set a “neutral” rating for the company in a report on Thursday. Bank of America boosted their price objective on Tesla from $305.00 to $341.00 and gave the stock a “neutral” rating in a research note on Monday, July 21st. Stifel Nicolaus set a $483.00 price objective on Tesla and gave the company a “buy” rating in a research report on Wednesday, October 8th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Tesla in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating, twelve have issued a Hold rating and eleven have assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $381.00.

Insider Buying and Selling

In related news, Director James R. Murdoch sold 120,000 shares of Tesla stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $350.29, for a total transaction of $42,034,800.00. Following the completion of the sale, the director owned 697,031 shares in the company, valued at $244,162,988.99. This trade represents a 14.69% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Vaibhav Taneja sold 2,606 shares of the business’s stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $352.38, for a total transaction of $918,302.28. Following the completion of the sale, the chief financial officer directly owned 9,856 shares of the company’s stock, valued at approximately $3,473,057.28. This trade represents a 20.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 202,606 shares of company stock valued at $75,588,902 in the last 90 days. Company insiders own 19.90% of the company’s stock.

Tesla Price Performance

Shares of TSLA stock opened at $433.72 on Monday. The stock has a 50 day moving average price of $398.06 and a 200 day moving average price of $341.21. Tesla, Inc. has a 52-week low of $214.25 and a 52-week high of $488.54. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.67 and a current ratio of 2.07. The firm has a market capitalization of $1.44 trillion, a P/E ratio of 289.15, a P/E/G ratio of 15.45 and a beta of 2.08.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, October 22nd. The electric vehicle producer reported $0.50 EPS for the quarter, beating the consensus estimate of $0.48 by $0.02. Tesla had a return on equity of 6.61% and a net margin of 5.51%.The company had revenue of $28.10 billion for the quarter, compared to the consensus estimate of $24.98 billion. During the same quarter in the prior year, the company posted $0.72 EPS. Tesla’s quarterly revenue was up 11.6% on a year-over-year basis. As a group, sell-side analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current year.

Tesla Company 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.