Rollins Financial Advisors LLC Lowers Stake in Tesla, Inc. $TSLA

Rollins Financial Advisors LLC trimmed its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 23.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 57,159 shares of the electric vehicle producer’s stock after selling 17,788 shares during the period. Tesla accounts for approximately 2.9% of Rollins Financial Advisors LLC’s portfolio, making the stock its 10th largest holding. Rollins Financial Advisors LLC’s holdings in Tesla were worth $18,157,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Chelsea Counsel Co. raised its stake in Tesla by 59.7% in the 1st quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock valued at $28,000 after acquiring an additional 40 shares during the period. LGT Financial Advisors LLC bought a new position in Tesla during the second quarter worth about $29,000. Evergreen Private Wealth LLC increased 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 worth $35,000 after purchasing an additional 81 shares in the last quarter. Graybill Wealth Management LTD. bought a new stake in shares of Tesla in the first quarter valued at approximately $36,000. Finally, Pacific Center for Financial Services lifted its stake in shares of Tesla by 44.7% during the 1st quarter. Pacific Center for Financial Services now owns 149 shares of the electric vehicle producer’s stock valued at $39,000 after buying an additional 46 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. BNP Paribas Exane initiated coverage on shares of Tesla in a report on Thursday, October 16th. They set an “underperform” rating and a $307.00 target price on the stock. Dbs Bank upgraded Tesla to a “hold” rating in a research report on Wednesday. UBS Group reissued a “sell” rating on shares of Tesla in a report on Friday. New Street Research lifted their target price on Tesla from $465.00 to $520.00 and gave the company a “buy” rating in a report on Thursday, October 23rd. Finally, Barclays reiterated a “negative” rating and set a $350.00 price target (up from $275.00) on shares of Tesla in a research report on Thursday, October 16th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, thirteen have assigned a Hold rating and eleven have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Tesla presently has an average rating of “Hold” and an average target price of $391.08.

Tesla Stock Performance

NASDAQ:TSLA opened at $429.52 on Friday. The stock has a market cap of $1.43 trillion, a P/E ratio of 286.35, a PEG ratio of 16.84 and a beta of 2.06. The company has a quick ratio of 1.67, a current ratio of 2.07 and a debt-to-equity ratio of 0.07. The business’s 50-day moving average price is $420.97 and its two-hundred day moving average price is $355.54. Tesla, Inc. has a twelve month low of $214.25 and a twelve month high of $488.54.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.02. Tesla had a net margin of 5.51% and a return on equity of 6.61%. The company had revenue of $28.10 billion for the quarter, compared to analysts’ expectations of $24.98 billion. During the same period in the prior year, the business earned $0.72 earnings per share. Tesla’s revenue for the quarter was up 11.6% compared to the same quarter last year. As a group, equities analysts predict that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Activity

In other news, CFO Vaibhav Taneja sold 2,606 shares of Tesla stock in a transaction on Monday, September 8th. The shares were 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 directly owned 9,856 shares of the company’s stock, valued at approximately $3,473,057.28. The trade was a 20.91% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Xiaotong Zhu sold 20,000 shares of the 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 transaction, the senior vice president directly owned 47,600 shares in the company, valued at approximately $17,314,500. This represents a 29.59% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 202,606 shares of company stock worth $75,588,902. 19.90% of the stock is currently owned by corporate insiders.

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.