Wealth Alliance LLC Sells 1,131 Shares of Tesla, Inc. $TSLA

Wealth Alliance LLC decreased its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 11.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,461 shares of the electric vehicle producer’s stock after selling 1,131 shares during the quarter. Wealth Alliance LLC’s holdings in Tesla were worth $2,688,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the stock. LGT Financial Advisors LLC purchased a new position in Tesla during the second quarter valued at approximately $29,000. Chelsea Counsel Co. increased its holdings 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 worth $28,000 after purchasing an additional 40 shares during the period. Evergreen Private Wealth LLC raised its position 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 worth $35,000 after buying an additional 81 shares in the last quarter. Glynn Capital Management LLC bought a new stake in Tesla during the second quarter valued at $35,000. Finally, Maseco LLP purchased a new position in Tesla during the second quarter worth about $39,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Price Performance

TSLA stock opened at $439.62 on Wednesday. The stock has a market capitalization of $1.46 trillion, a price-to-earnings ratio of 293.08, a PEG ratio of 16.84 and a beta of 2.06. The firm’s 50-day moving average price is $425.40 and its two-hundred day moving average price is $358.68. The company has a current ratio of 2.07, a quick ratio of 1.67 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a 12-month low of $214.25 and a 12-month high of $488.54.

Tesla (NASDAQ:TSLA) last posted its earnings results on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.02. The company 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%.Tesla’s quarterly revenue was up 11.6% on a year-over-year basis. During the same period last year, the firm earned $0.72 earnings per share. As a group, equities analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Buying and Selling

In other Tesla news, Director James R. Murdoch sold 60,000 shares of the company’s stock in a transaction on Monday, September 15th. The shares were sold at an average price of $422.68, for a total value of $25,360,800.00. Following the completion of the transaction, the director directly owned 637,031 shares in the company, valued at approximately $269,260,263.08. This represents a 8.61% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Vaibhav Taneja sold 2,606 shares of Tesla 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 sale, the chief financial officer directly owned 9,856 shares in the company, valued at $3,473,057.28. The trade was a 20.91% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 202,606 shares of company stock valued at $75,588,902 over the last quarter. 19.90% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

TSLA has been the subject of a number of research analyst reports. Stifel Nicolaus set a $483.00 price target on Tesla and gave the company a “buy” rating in a research report on Wednesday, October 8th. Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a research report on Thursday, October 23rd. China Renaissance raised their price objective on shares of Tesla from $349.00 to $380.00 and gave the company a “hold” rating in a research report on Friday, October 24th. Weiss Ratings reissued a “hold (c-)” rating on shares of Tesla in a research note on Thursday, October 30th. Finally, William Blair reiterated a “market perform” rating on shares of Tesla in a report on Friday, September 5th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, thirteen have given a Hold rating and eleven have given a Sell rating to the company’s stock. According to MarketBeat, Tesla presently has a consensus rating of “Hold” and a consensus price target of $391.08.

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.