MinichMacGregor Wealth Management LLC Sells 348 Shares of Tesla, Inc. $TSLA

MinichMacGregor Wealth Management LLC decreased its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 11.8% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 2,609 shares of the electric vehicle producer’s stock after selling 348 shares during the quarter. MinichMacGregor Wealth Management LLC’s holdings in Tesla were worth $829,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the company. Means Investment CO. Inc. boosted its stake in shares of Tesla by 37.7% during the 1st quarter. Means Investment CO. Inc. now owns 23,089 shares of the electric vehicle producer’s stock worth $5,984,000 after buying an additional 6,323 shares during the last quarter. Focus Financial Network Inc. lifted its holdings in Tesla by 3.1% in the first quarter. Focus Financial Network Inc. now owns 22,467 shares of the electric vehicle producer’s stock valued at $5,823,000 after buying an additional 670 shares during the period. Siren L.L.C. acquired a new position in shares of Tesla during the first quarter valued at about $2,332,000. Zuckerman Investment Group LLC grew its position in Tesla by 6.9% in the 1st quarter. Zuckerman Investment Group LLC now owns 12,748 shares of the electric vehicle producer’s stock worth $3,304,000 after purchasing an additional 826 shares in the last quarter. Finally, Keystone Global Partners LLC bought a new position in shares of Tesla during the 1st quarter valued at approximately $594,000. Institutional investors own 66.20% of the company’s stock.

Wall Street Analyst Weigh In

TSLA has been the topic of several research reports. Mizuho raised their price objective on shares of Tesla from $375.00 to $450.00 and gave the company an “outperform” rating in a research report on Tuesday, September 23rd. Canaccord Genuity Group upped their target price on shares of Tesla from $303.00 to $333.00 and gave the company a “buy” rating in a report on Thursday, July 24th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Tesla from $345.00 to $435.00 and gave the company a “buy” rating in a research report on Friday. CICC Research raised their target price on shares of Tesla from $360.00 to $450.00 and gave the company an “outperform” rating in a research report on Thursday, September 18th. Finally, Argus reiterated a “hold” rating on shares of Tesla in a research note on Monday, June 9th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, twelve have assigned a Hold rating and nine have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $332.33.

Insider Buying and Selling at Tesla

In other news, SVP Xiaotong Zhu sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the transaction, the senior vice president directly owned 47,600 shares in the company, valued at approximately $17,314,500. This trade represents a 29.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director James R. Murdoch sold 120,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $350.29, for a total transaction of $42,034,800.00. Following the transaction, the director owned 697,031 shares in the company, valued at approximately $244,162,988.99. This trade represents a 14.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 208,606 shares of company stock worth $77,360,462 over the last three months. Insiders own 19.90% of the company’s stock.

Tesla Trading Up 4.0%

Shares of TSLA opened at $440.40 on Friday. The firm has a 50-day moving average price of $352.05 and a 200 day moving average price of $314.88. Tesla, Inc. has a 12-month low of $212.11 and a 12-month high of $488.54. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $1.46 trillion, a P/E ratio of 254.57, a P/E/G ratio of 15.36 and a beta of 2.06.

Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). The company had revenue of $22.50 billion during the quarter, compared to analyst estimates of $23.18 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. The company’s quarterly revenue was down 11.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.52 EPS. Sell-side analysts forecast that Tesla, Inc. will post 2.56 EPS for the current year.

Tesla Company 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.