Tesla, Inc. $TSLA Shares Sold by NRI Wealth Management LC

NRI Wealth Management LC lowered its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 11.2% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 2,362 shares of the electric vehicle producer’s stock after selling 297 shares during the quarter. Tesla accounts for 0.5% of NRI Wealth Management LC’s investment portfolio, making the stock its 21st largest position. NRI Wealth Management LC’s holdings in Tesla were worth $750,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Means Investment CO. Inc. lifted its stake in shares of Tesla by 37.7% in the 1st quarter. Means Investment CO. Inc. now owns 23,089 shares of the electric vehicle producer’s stock valued at $5,984,000 after purchasing an additional 6,323 shares during the last quarter. Focus Financial Network Inc. lifted its stake in shares of Tesla by 3.1% in the 1st quarter. Focus Financial Network Inc. now owns 22,467 shares of the electric vehicle producer’s stock valued at $5,823,000 after purchasing an additional 670 shares during the last quarter. Siren L.L.C. acquired a new position in shares of Tesla in the 1st quarter valued at $2,332,000. Zuckerman Investment Group LLC lifted its stake in shares of Tesla by 6.9% in the 1st quarter. Zuckerman Investment Group LLC now owns 12,748 shares of the electric vehicle producer’s stock valued at $3,304,000 after purchasing an additional 826 shares during the last quarter. Finally, Keystone Global Partners LLC acquired a new position in shares of Tesla in the 1st quarter valued at $594,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Trading Down 5.1%

TSLA opened at $436.00 on Friday. The business’s 50-day simple moving average is $361.74 and its 200-day simple moving average is $319.98. The company has a market cap of $1.45 trillion, a P/E ratio of 252.02, a PEG ratio of 15.97 and a beta of 2.08. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04. Tesla, Inc. has a one year low of $212.11 and a one year high of $488.54.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). The firm had revenue of $22.50 billion for the quarter, compared to analysts’ expectations of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%.The company’s quarterly revenue was down 11.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.52 EPS. As a group, equities research analysts expect that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on TSLA shares. William Blair reissued a “market perform” rating on shares of Tesla in a research note on Friday, September 5th. Bank of America increased their target price on Tesla from $305.00 to $341.00 and gave the stock a “neutral” rating in a research note on Monday, July 21st. Deutsche Bank Aktiengesellschaft increased their target price on Tesla from $345.00 to $435.00 and gave the stock a “buy” rating in a research note on Friday, September 26th. UBS Group reissued a “sell” rating and set a $215.00 target price on shares of Tesla in a research note on Thursday. Finally, Robert W. Baird raised Tesla from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $320.00 to $548.00 in a research note on Friday, September 19th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, twelve have issued a Hold rating and eight have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $341.46.

Insiders Place Their Bets

In other Tesla news, Director James R. Murdoch sold 60,000 shares of the stock in a transaction that occurred 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 completion of the sale, the director directly owned 637,031 shares of the company’s stock, valued at approximately $269,260,263.08. This trade represents a 8.61% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Vaibhav Taneja sold 2,606 shares of the stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $352.38, for a total value of $918,302.28. Following the sale, the chief financial officer directly owned 9,856 shares of the company’s stock, valued at $3,473,057.28. The trade was a 20.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 208,606 shares of company stock valued at $77,360,462. 19.90% of the stock is owned by company 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.