Spire Wealth Management Sells 9,819 Shares of Tesla, Inc. $TSLA

Spire Wealth Management decreased its holdings in Tesla, Inc. (NASDAQ:TSLA) by 31.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,733 shares of the electric vehicle producer’s stock after selling 9,819 shares during the period. Spire Wealth Management’s holdings in Tesla were worth $6,904,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of TSLA. Brighton Jones LLC boosted its stake in shares of Tesla by 11.8% in the 4th quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer’s stock worth $35,509,000 after buying an additional 9,293 shares during the last quarter. Revolve Wealth Partners LLC lifted its position in Tesla by 21.2% during the fourth quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer’s stock valued at $2,147,000 after purchasing an additional 931 shares in the last quarter. Bison Wealth LLC lifted its position in Tesla by 52.2% during the fourth quarter. Bison Wealth LLC now owns 10,368 shares of the electric vehicle producer’s stock valued at $4,187,000 after purchasing an additional 3,558 shares in the last quarter. Golden State Wealth Management LLC lifted its position in Tesla by 6.4% during the first quarter. Golden State Wealth Management LLC now owns 17,619 shares of the electric vehicle producer’s stock valued at $4,566,000 after purchasing an additional 1,053 shares in the last quarter. Finally, Smallwood Wealth Investment Management LLC purchased a new position in Tesla during the first quarter valued at $47,000. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director James R. Murdoch sold 60,000 shares of the business’s stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $422.68, for a total value of $25,360,800.00. Following the sale, the director directly owned 637,031 shares in the company, valued at approximately $269,260,263.08. The trade was a 8.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Xiaotong Zhu sold 20,000 shares of the business’s stock in a transaction dated 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 in the company, valued at $17,314,500. This represents a 29.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 202,606 shares of company stock worth $75,588,902. Corporate insiders own 19.90% of the company’s stock.

Tesla Price Performance

NASDAQ:TSLA opened at $461.51 on Thursday. The company has a current ratio of 2.07, a quick ratio of 1.67 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $1.53 trillion, a P/E ratio of 307.67, a P/E/G ratio of 16.81 and a beta of 2.08. Tesla, Inc. has a 12 month low of $214.25 and a 12 month high of $488.54. The business’s 50-day moving average is $405.79 and its 200 day moving average is $345.40.

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

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Tesla in a research report on Wednesday, October 8th. DZ Bank reiterated a “sell” rating on shares of Tesla in a research report on Thursday, October 23rd. New Street Research boosted their price objective on Tesla from $465.00 to $520.00 and gave the company a “buy” rating in a research report on Thursday, October 23rd. Barclays restated a “negative” rating and issued a $350.00 price objective (up from $275.00) on shares of Tesla in a research report on Thursday, October 16th. Finally, Cantor Fitzgerald set a $510.00 price objective on Tesla and gave the company an “overweight” rating in a research report on Thursday, October 23rd. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, twelve have issued a Hold rating and eleven have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently 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.