Atria Investments Inc Sells 4,253 Shares of Tesla, Inc. $TSLA

Atria Investments Inc lowered its stake in Tesla, Inc. (NASDAQ:TSLA) by 3.6% in the second quarter, Holdings Channel reports. The fund owned 115,104 shares of the electric vehicle producer’s stock after selling 4,253 shares during the quarter. Atria Investments Inc’s holdings in Tesla were worth $36,564,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Savvy Advisors Inc. boosted its position in Tesla by 60.8% in the second quarter. Savvy Advisors Inc. now owns 22,597 shares of the electric vehicle producer’s stock valued at $7,178,000 after buying an additional 8,544 shares in the last quarter. FRG Family Wealth Advisors LLC boosted its holdings in shares of Tesla by 106.5% during the 2nd quarter. FRG Family Wealth Advisors LLC now owns 10,079 shares of the electric vehicle producer’s stock valued at $3,202,000 after acquiring an additional 5,198 shares in the last quarter. Assetmark Inc. grew its position in Tesla by 4.0% during the 2nd quarter. Assetmark Inc. now owns 356,808 shares of the electric vehicle producer’s stock worth $113,344,000 after acquiring an additional 13,801 shares during the last quarter. Keybank National Association OH raised its position in Tesla by 1.2% in the second quarter. Keybank National Association OH now owns 48,607 shares of the electric vehicle producer’s stock valued at $15,441,000 after purchasing an additional 587 shares during the last quarter. Finally, Premier Path Wealth Partners LLC boosted its stake in shares of Tesla by 8.5% during the second quarter. Premier Path Wealth Partners LLC now owns 16,840 shares of the electric vehicle producer’s stock valued at $5,349,000 after purchasing an additional 1,319 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Tesla Stock Up 0.2%

Shares of Tesla stock opened at $461.51 on Thursday. The stock’s 50-day moving average is $405.79 and its 200 day moving average is $345.40. Tesla, Inc. has a one year low of $214.25 and a one year high of $488.54. The firm has a market cap of $1.53 trillion, a price-to-earnings ratio of 307.67, a PEG ratio of 16.81 and a beta of 2.08. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.07 and a quick ratio of 1.67.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, October 22nd. The electric vehicle producer reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.02. The firm had revenue of $28.10 billion for the quarter, compared to analysts’ expectations of $24.98 billion. Tesla had a return on equity of 6.61% and a net margin of 5.51%.The company’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.72 EPS. Equities research analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Buying and Selling at Tesla

In other news, Director James R. Murdoch sold 60,000 shares of the company’s stock in a transaction dated Monday, September 15th. The shares were 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 represents a 8.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Xiaotong Zhu sold 20,000 shares of the business’s stock in a transaction dated 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 directly owned 47,600 shares of the company’s stock, valued at $17,314,500. The trade was a 29.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 202,606 shares of company stock valued at $75,588,902. Corporate insiders own 19.90% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on TSLA. Cantor Fitzgerald set a $510.00 target price on shares of Tesla and gave the stock an “overweight” rating in a research report on Thursday, October 23rd. Industrial Alliance Securities set a $300.00 price objective on shares of Tesla in a research note on Monday, October 13th. William Blair reaffirmed a “market perform” rating on shares of Tesla in a research report on Friday, September 5th. Glj Research reiterated a “sell” rating on shares of Tesla in a research report on Wednesday, October 22nd. Finally, China Renaissance increased their price target on Tesla from $349.00 to $380.00 and gave the company a “hold” rating in a research note on Friday, October 24th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, twelve have assigned a Hold rating and eleven have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Tesla has an average rating of “Hold” and an average price target of $388.51.

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.