United Asset Strategies Inc. Has $4.25 Million Holdings in Tesla, Inc. $TSLA

United Asset Strategies Inc. trimmed its stake in Tesla, Inc. (NASDAQ:TSLA) by 2.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,368 shares of the electric vehicle producer’s stock after selling 343 shares during the period. United Asset Strategies Inc.’s holdings in Tesla were worth $4,246,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in TSLA. LGT Financial Advisors LLC bought a new stake in shares of Tesla in the 2nd quarter worth approximately $29,000. Chelsea Counsel Co. raised its stake in shares of Tesla by 59.7% in the first quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock valued at $28,000 after purchasing an additional 40 shares in the last quarter. Evergreen Private Wealth LLC raised its stake in shares of Tesla by 270.0% in the second quarter. Evergreen Private Wealth LLC now owns 111 shares of the electric vehicle producer’s stock valued at $35,000 after purchasing an additional 81 shares in the last quarter. Glynn Capital Management LLC bought a new position in Tesla in the second quarter worth $35,000. Finally, Maseco LLP acquired a new stake in Tesla during the second quarter worth $39,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Wall Street Analysts Forecast Growth

TSLA has been the subject of a number of analyst reports. Daiwa Capital Markets reaffirmed a “neutral” rating on shares of Tesla in a report on Sunday, July 27th. Barclays reaffirmed a “negative” rating and set a $350.00 price objective (up from $275.00) on shares of Tesla in a report on Thursday, October 16th. Weiss Ratings reissued a “hold (c-)” rating on shares of Tesla in a report on Thursday, October 30th. Benchmark restated a “buy” rating on shares of Tesla in a research report on Thursday, October 23rd. Finally, JPMorgan Chase & Co. upped their price target on Tesla from $115.00 to $150.00 in a research report on Friday, October 3rd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, thirteen have given a Hold rating and eleven have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $391.08.

Tesla Stock Down 1.3%

Shares of NASDAQ TSLA opened at $439.62 on Wednesday. The firm has a 50 day moving average price of $425.40 and a 200 day moving average price of $358.68. 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 stock has a market cap of $1.46 trillion, a P/E ratio of 293.08, a P/E/G ratio of 16.84 and a beta of 2.06. Tesla, Inc. has a 52-week low of $214.25 and a 52-week high of $488.54.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.02. The company had revenue of $28.10 billion during the quarter, compared to analyst estimates of $24.98 billion. Tesla had a net margin of 5.51% and a return on equity of 6.61%. The firm’s revenue was up 11.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.72 EPS. Analysts expect that Tesla, Inc. will post 2.56 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Vaibhav Taneja sold 2,606 shares of the company’s stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $352.38, for a total value of $918,302.28. Following the completion of the transaction, the chief financial officer owned 9,856 shares in the company, valued at $3,473,057.28. This represents a 20.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James R. Murdoch sold 60,000 shares of the firm’s stock in a transaction on Monday, September 15th. The stock was sold at an average price of $422.68, for a total transaction of $25,360,800.00. Following the sale, the director 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 disclosure for this sale is available in the SEC filing. Insiders sold 202,606 shares of company stock worth $75,588,902 over the last ninety days. 19.90% of the stock is currently owned by corporate insiders.

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.