Tesla, Inc. (NASDAQ:TSLA) Shares Sold by LongView Wealth Management

LongView Wealth Management decreased its stake in Tesla, Inc. (NASDAQ:TSLA) by 27.0% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,706 shares of the electric vehicle producer’s stock after selling 631 shares during the quarter. LongView Wealth Management’s holdings in Tesla were worth $338,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Canton Hathaway LLC boosted its position in Tesla by 15.6% during the 2nd quarter. Canton Hathaway LLC now owns 3,715 shares of the electric vehicle producer’s stock worth $735,000 after acquiring an additional 500 shares during the period. Wealthspan Partners LLC boosted its position in Tesla by 11.7% during the 2nd quarter. Wealthspan Partners LLC now owns 1,430 shares of the electric vehicle producer’s stock worth $283,000 after acquiring an additional 150 shares during the period. SeaCrest Wealth Management LLC boosted its position in Tesla by 26.0% during the 2nd quarter. SeaCrest Wealth Management LLC now owns 20,091 shares of the electric vehicle producer’s stock worth $3,976,000 after acquiring an additional 4,150 shares during the period. M3 Advisory Group LLC raised its stake in shares of Tesla by 11.8% during the 2nd quarter. M3 Advisory Group LLC now owns 3,219 shares of the electric vehicle producer’s stock worth $637,000 after purchasing an additional 339 shares in the last quarter. Finally, Essex Private Wealth Management LLC raised its stake in shares of Tesla by 6.4% during the 2nd quarter. Essex Private Wealth Management LLC now owns 1,973 shares of the electric vehicle producer’s stock worth $391,000 after purchasing an additional 118 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on TSLA shares. Morgan Stanley reaffirmed an “overweight” rating and set a $310.00 price target on shares of Tesla in a research note on Monday, July 29th. Wedbush reaffirmed an “outperform” rating and set a $300.00 price target on shares of Tesla in a research note on Wednesday, July 24th. KGI Securities reissued a “neutral” rating and issued a $236.00 price objective on shares of Tesla in a research note on Thursday, July 25th. Robert W. Baird reissued an “outperform” rating and issued a $280.00 price objective on shares of Tesla in a research note on Tuesday. Finally, UBS Group downgraded Tesla from a “neutral” rating to a “sell” rating and raised their price objective for the company from $147.00 to $197.00 in a research note on Friday, July 12th. Nine equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $204.21.

Tesla Price Performance

Tesla stock traded down $1.62 on Tuesday, reaching $221.10. The company’s stock had a trading volume of 73,253,070 shares, compared to its average volume of 99,013,727. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.40 and a current ratio of 1.91. The company has a market cap of $705.13 billion, a price-to-earnings ratio of 56.03, a PEG ratio of 5.22 and a beta of 2.31. The business’s fifty day moving average price is $216.12 and its 200 day moving average price is $191.23. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $278.98.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Tuesday, July 23rd. The electric vehicle producer reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). The business had revenue of $25.50 billion during the quarter, compared to analyst estimates of $24.38 billion. Tesla had a return on equity of 10.41% and a net margin of 13.00%. Tesla’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.78 EPS. Equities analysts expect that Tesla, Inc. will post 1.79 earnings per share for the current fiscal year.

Insider Transactions at Tesla

In related news, Director Robyn M. Denholm sold 66,364 shares of the company’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $219.96, for a total value of $14,597,425.44. Following the completion of the sale, the director now owns 85,000 shares in the company, valued at $18,696,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Tesla news, SVP Xiaotong Zhu sold 650 shares of the stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $174.21, for a total value of $113,236.50. Following the transaction, the senior vice president now owns 65,155 shares of the company’s stock, valued at $11,350,652.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Robyn M. Denholm sold 66,364 shares of the firm’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $219.96, for a total value of $14,597,425.44. Following the sale, the director now directly owns 85,000 shares in the company, valued at approximately $18,696,600. The disclosure for this sale can be found here. 25.10% 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.