Tesla, Inc. $TSLA Shares Sold by Allium Financial Advisors LLC

Allium Financial Advisors LLC cut its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 51.1% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,864 shares of the electric vehicle producer’s stock after selling 2,991 shares during the quarter. Tesla comprises about 0.7% of Allium Financial Advisors LLC’s investment portfolio, making the stock its 24th largest position. Allium Financial Advisors LLC’s holdings in Tesla were worth $910,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. LGT Financial Advisors LLC acquired a new stake in shares of Tesla during the 2nd quarter valued at approximately $29,000. Chelsea Counsel Co. increased its stake in Tesla by 59.7% in the 1st quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock valued at $28,000 after purchasing an additional 40 shares in the last quarter. Evergreen Private Wealth LLC raised its holdings in Tesla by 270.0% during the second quarter. Evergreen Private Wealth LLC now owns 111 shares of the electric vehicle producer’s stock worth $35,000 after purchasing an additional 81 shares during the last quarter. Glynn Capital Management LLC purchased a new stake in Tesla during the second quarter worth $35,000. Finally, LSV Asset Management grew its holdings in Tesla by 400.0% in the second quarter. LSV Asset Management now owns 120 shares of the electric vehicle producer’s stock valued at $38,000 after purchasing an additional 96 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Dbs Bank upgraded shares of Tesla to a “hold” rating in a research report on Wednesday, November 5th. TD Cowen lifted their target price on shares of Tesla from $374.00 to $509.00 and gave the stock a “buy” rating in a research report on Thursday, October 9th. Robert W. Baird upgraded shares of Tesla from a “neutral” rating to an “outperform” rating and increased their price target for the company from $320.00 to $548.00 in a research report on Friday, September 19th. Canaccord Genuity Group cut their price objective on Tesla from $490.00 to $482.00 and set a “buy” rating for the company in a research report on Thursday, October 23rd. Finally, The Goldman Sachs Group lowered their target price on Tesla from $425.00 to $400.00 and set a “neutral” rating on the stock in a report on Thursday, October 23rd. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, thirteen have issued a Hold rating and nine have issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $398.92.

Tesla Stock Performance

NASDAQ TSLA opened at $454.53 on Friday. The business’s 50-day moving average price is $434.64 and its 200 day moving average price is $371.63. The company has a current ratio of 2.07, a quick ratio of 1.67 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a twelve month low of $214.25 and a twelve month high of $488.54. The company has a market capitalization of $1.51 trillion, a PE ratio of 303.02, a price-to-earnings-growth ratio of 15.09 and a beta of 1.87.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Thursday, October 23rd. The electric vehicle producer reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.02. Tesla had a net margin of 5.51% and a return on equity of 6.61%. The company had revenue of $28.10 billion during the quarter, compared to the consensus estimate of $24.98 billion. During the same quarter in the prior year, the company posted $0.72 EPS. The company’s quarterly revenue was up 11.6% compared to the same quarter last year. On average, research analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director James R. Murdoch sold 60,000 shares of the stock in a transaction on Monday, September 15th. The stock was sold at an average price of $422.68, for a total value of $25,360,800.00. Following the transaction, 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Xiaotong Zhu sold 20,000 shares of Tesla stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $363.75, for a total value of $7,275,000.00. Following the completion of the transaction, the senior vice president owned 47,600 shares in the company, valued at $17,314,500. The trade was a 29.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 82,606 shares of company stock valued at $33,554,102 over the last quarter. Company insiders own 19.90% of the company’s stock.

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.