Tesla, Inc. (NASDAQ:TSLA) Shares Sold by L & S Advisors Inc

L & S Advisors Inc lowered its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 10.9% during the 2nd quarter, Holdings Channel reports. The fund owned 14,760 shares of the electric vehicle producer’s stock after selling 1,813 shares during the period. L & S Advisors Inc’s holdings in Tesla were worth $2,921,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also bought and sold shares of the stock. Axxcess Wealth Management LLC increased its stake in shares of Tesla by 25.8% in the second quarter. Axxcess Wealth Management LLC now owns 68,808 shares of the electric vehicle producer’s stock worth $13,616,000 after purchasing an additional 14,124 shares during the period. Fairway Wealth LLC raised its position in Tesla by 324.3% in the second quarter. Fairway Wealth LLC now owns 297 shares of the electric vehicle producer’s stock worth $59,000 after purchasing an additional 227 shares in the last quarter. Abbot Financial Management Inc. grew its position in Tesla by 12.7% in the second quarter. Abbot Financial Management Inc. now owns 2,853 shares of the electric vehicle producer’s stock valued at $565,000 after acquiring an additional 321 shares during the period. Alpha Family Trust grew its holdings in shares of Tesla by 8.5% in the 2nd quarter. Alpha Family Trust now owns 12,530 shares of the electric vehicle producer’s stock worth $2,479,000 after purchasing an additional 985 shares during the last quarter. Finally, Frisch Financial Group Inc. increased its holdings in shares of Tesla by 9.4% during the second quarter. Frisch Financial Group Inc. now owns 2,741 shares of the electric vehicle producer’s stock worth $542,000 after buying an additional 236 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Wall Street Analyst Weigh In

TSLA has been the topic of a number of research reports. New Street Research lowered shares of Tesla from a “buy” rating to a “neutral” rating and set a $225.00 target price on the stock. in a research report on Wednesday, July 24th. Oppenheimer reiterated a “market perform” rating on shares of Tesla in a report on Tuesday, July 9th. Wells Fargo & Company reiterated an “underweight” rating and set a $120.00 target price on shares of Tesla in a report on Monday, July 1st. Mizuho increased their price objective on shares of Tesla from $180.00 to $230.00 and gave the stock a “neutral” rating in a research note on Friday, July 12th. Finally, The Goldman Sachs Group lowered their target price on shares of Tesla from $248.00 to $230.00 and set a “neutral” rating on the stock in a report on Wednesday, July 24th. Nine equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, Tesla presently has a consensus rating of “Hold” and a consensus price target of $209.60.

Insider Activity at Tesla

In other Tesla news, Director Robyn M. Denholm sold 66,364 shares of the stock in a transaction that occurred on 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 transaction, the director now owns 85,000 shares in the company, valued at $18,696,600. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, Director Robyn M. Denholm sold 66,364 shares of the stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the completion of the transaction, the director now owns 85,000 shares in the company, valued at $18,696,600. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction on Friday, September 6th. The shares were sold at an average price of $221.77, for a total value of $65,865.69. Following the transaction, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at $14,967,479.07. The disclosure for this sale can be found here. 25.10% of the stock is owned by corporate insiders.

Tesla Stock Down 1.5 %

Shares of NASDAQ:TSLA opened at $226.78 on Tuesday. The company has a market capitalization of $723.25 billion, a PE ratio of 57.85, a price-to-earnings-growth ratio of 6.08 and a beta of 2.29. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $273.93. 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 fifty day moving average of $222.85 and a 200-day moving average of $194.75.

Tesla (NASDAQ:TSLA) last posted its earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). The business had revenue of $25.50 billion for the quarter, compared to the consensus estimate of $24.38 billion. Tesla had a return on equity of 10.41% and a net margin of 13.00%. The company’s revenue was up 2.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.78 earnings per share. On average, equities analysts predict that Tesla, Inc. will post 1.75 EPS for the current fiscal year.

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.