GWN Securities Inc. Cuts Stock Holdings in Tesla, Inc. $TSLA

GWN Securities Inc. trimmed its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 50.5% in the second quarter, HoldingsChannel reports. The institutional investor owned 5,626 shares of the electric vehicle producer’s stock after selling 5,749 shares during the period. GWN Securities Inc.’s holdings in Tesla were worth $1,809,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. lifted its stake in shares of Tesla by 322.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer’s stock valued at $6,891,201,000 after purchasing an additional 20,291,139 shares in the last quarter. Nuveen LLC purchased a new position in Tesla in the first quarter valued at approximately $3,247,619,000. Kingstone Capital Partners Texas LLC raised 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 buying an additional 6,435,598 shares during the period. Amundi raised 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 buying an additional 3,814,610 shares during the period. Finally, Vanguard Group Inc. increased its position in shares of Tesla by 1.5% in the first quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer’s stock worth $63,983,418,000 after acquiring an additional 3,694,524 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Stock Up 4.3%

Shares of NASDAQ TSLA opened at $452.42 on Tuesday. Tesla, Inc. has a 1 year low of $214.25 and a 1 year high of $488.54. The stock’s 50-day simple moving average is $400.41 and its 200-day simple moving average is $342.47. 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 cap of $1.50 trillion, a price-to-earnings ratio of 301.61, a PEG ratio of 15.45 and a beta of 2.08.

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

Insider Buying and Selling

In related news, SVP Xiaotong Zhu sold 20,000 shares of Tesla stock in a transaction on Thursday, September 11th. The shares were 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 in the company, valued at approximately $17,314,500. The trade was a 29.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Vaibhav Taneja sold 2,606 shares of Tesla stock in a transaction on Monday, September 8th. The stock was 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 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 position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 202,606 shares of company stock worth $75,588,902. Insiders own 19.90% of the company’s stock.

Analysts Set New Price Targets

TSLA has been the subject of several recent research reports. Industrial Alliance Securities set a $300.00 price objective on shares of Tesla in a research report on Monday, October 13th. Piper Sandler boosted their price objective on Tesla from $400.00 to $500.00 and gave the stock an “overweight” rating in a research note on Monday, September 22nd. Dbs Bank boosted their price objective on Tesla from $300.00 to $450.00 in a research note on Wednesday, September 17th. Truist Financial boosted their price objective on Tesla from $280.00 to $406.00 and gave the stock a “hold” rating in a research note on Thursday, October 23rd. Finally, The Goldman Sachs Group dropped their target price on Tesla from $425.00 to $400.00 and set a “neutral” rating on the stock in a report on Thursday, October 23rd. One equities research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, twelve have assigned a Hold rating and eleven have assigned a Sell rating to the company. Based on data from MarketBeat.com, Tesla currently has a consensus rating of “Hold” and an average price target of $381.00.

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.