Ameliora Wealth Management Ltd. Sells 162 Shares of Tesla, Inc. $TSLA

Ameliora Wealth Management Ltd. reduced its stake in Tesla, Inc. (NASDAQ:TSLA) by 21.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 606 shares of the electric vehicle producer’s stock after selling 162 shares during the period. Ameliora Wealth Management Ltd.’s holdings in Tesla were worth $193,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. KWB Wealth lifted its position in Tesla by 2.4% during the second quarter. KWB Wealth now owns 1,381 shares of the electric vehicle producer’s stock worth $439,000 after purchasing an additional 33 shares during the period. Conrad Siegel Investment Advisors Inc. lifted its stake in Tesla by 3.6% during the second quarter. Conrad Siegel Investment Advisors Inc. now owns 976 shares of the electric vehicle producer’s stock worth $310,000 after purchasing an additional 34 shares during the last quarter. Guyasuta Investment Advisors Inc. boosted its holdings in shares of Tesla by 0.7% in the 2nd quarter. Guyasuta Investment Advisors Inc. now owns 5,107 shares of the electric vehicle producer’s stock valued at $1,622,000 after purchasing an additional 34 shares in the last quarter. Kelly Financial Services LLC increased its stake in shares of Tesla by 2.7% in the 2nd quarter. Kelly Financial Services LLC now owns 1,331 shares of the electric vehicle producer’s stock valued at $423,000 after purchasing an additional 35 shares during the last quarter. Finally, Acorn Wealth Advisors LLC raised its holdings in shares of Tesla by 1.9% during the 1st quarter. Acorn Wealth Advisors LLC now owns 1,901 shares of the electric vehicle producer’s stock worth $493,000 after buying an additional 36 shares in the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have commented on TSLA shares. Deutsche Bank Aktiengesellschaft increased their target price on Tesla from $345.00 to $435.00 and gave the company a “buy” rating in a research report on Friday, September 26th. Daiwa Capital Markets reiterated a “neutral” rating on shares of Tesla in a report on Sunday, July 27th. JPMorgan Chase & Co. boosted their target price on shares of Tesla from $115.00 to $150.00 in a report on Friday, October 3rd. Guggenheim reaffirmed a “sell” rating and set a $175.00 price target on shares of Tesla in a research note on Wednesday, July 23rd. Finally, The Goldman Sachs Group boosted their price objective on shares of Tesla from $395.00 to $425.00 and gave the stock a “neutral” rating in a research note on Friday, October 3rd. Two research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, thirteen have assigned a Hold rating and eight have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Tesla currently has an average rating of “Hold” and a consensus target price of $344.40.

Tesla Trading Down 4.4%

Shares of TSLA stock opened at $433.09 on Wednesday. Tesla, Inc. has a fifty-two week low of $212.11 and a fifty-two week high of $488.54. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04. The stock has a 50 day simple moving average of $368.81 and a two-hundred day simple moving average of $324.77. The company has a market cap of $1.44 trillion, a P/E ratio of 250.34, a PEG ratio of 15.75 and a beta of 2.08.

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

Insider Transactions at Tesla

In other news, CFO Vaibhav Taneja sold 2,606 shares of the firm’s stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $352.38, for a total value of $918,302.28. Following the completion of the sale, the chief financial officer directly owned 9,856 shares in the company, valued at $3,473,057.28. This trade represents a 20.91% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Xiaotong Zhu sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $363.75, for a total value 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 disclosure for this sale can be found here. Insiders have sold 202,606 shares of company stock valued at $75,588,902 in the last 90 days. 19.90% of the stock is currently owned by corporate 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.