Tesla, Inc. $TSLA Shares Sold by First Trust Advisors LP

First Trust Advisors LP decreased its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 10.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 725,040 shares of the electric vehicle producer’s stock after selling 85,672 shares during the quarter. First Trust Advisors LP’s holdings in Tesla were worth $230,316,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of TSLA. Guggenheim Capital LLC boosted its stake in Tesla by 18.7% during the second quarter. Guggenheim Capital LLC now owns 398,501 shares of the electric vehicle producer’s stock worth $126,588,000 after buying an additional 62,891 shares during the period. McGowan Group Asset Management Inc. lifted its holdings in shares of Tesla by 55.9% in the 2nd quarter. McGowan Group Asset Management Inc. now owns 1,968 shares of the electric vehicle producer’s stock worth $625,000 after acquiring an additional 706 shares during the last quarter. JBR Co Financial Management Inc increased its holdings in Tesla by 7.2% in the 2nd quarter. JBR Co Financial Management Inc now owns 6,228 shares of the electric vehicle producer’s stock valued at $1,978,000 after purchasing an additional 416 shares during the last quarter. Raab & Moskowitz Asset Management LLC raised its position in Tesla by 26.9% in the second quarter. Raab & Moskowitz Asset Management LLC now owns 1,458 shares of the electric vehicle producer’s stock valued at $463,000 after purchasing an additional 309 shares during the period. Finally, Kilter Group LLC acquired a new position in Tesla during the second quarter worth $115,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Stock Performance

Shares of TSLA stock opened at $454.53 on Friday. The company has a market cap of $1.51 trillion, a P/E ratio of 303.02, a PEG ratio of 15.09 and a beta of 1.87. The firm has a fifty day moving average price of $434.64 and a 200 day moving average price of $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 12 month low of $214.25 and a 12 month high of $488.54.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.02. The company had revenue of $28.10 billion for the quarter, compared to analysts’ expectations of $24.98 billion. Tesla had a return on equity of 6.61% and a net margin of 5.51%.Tesla’s quarterly revenue was up 11.6% on a year-over-year basis. During the same period last year, the firm earned $0.72 earnings per share. Sell-side analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director James R. Murdoch sold 60,000 shares of the business’s stock in a transaction that occurred on Monday, September 15th. The shares were 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 owned 637,031 shares in the company, valued at approximately $269,260,263.08. The trade was a 8.61% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Vaibhav Taneja sold 2,606 shares of the company’s stock in a transaction on Monday, September 8th. The shares were sold at an average price of $352.38, for a total transaction of $918,302.28. Following the completion of the transaction, the chief financial officer owned 9,856 shares of the company’s stock, valued at approximately $3,473,057.28. The trade was a 20.91% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 82,606 shares of company stock worth $33,554,102 over the last 90 days. 19.90% of the stock is owned by insiders.

Analyst Ratings Changes

TSLA has been the topic of several research analyst reports. Roth Capital set a $505.00 price objective on Tesla and gave the company a “buy” rating in a report on Thursday, October 23rd. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Tesla in a research report on Thursday, October 30th. China Renaissance increased their price target on shares of Tesla from $349.00 to $380.00 and gave the stock a “hold” rating in a research report on Friday, October 24th. Bank of America lifted their price objective on shares of Tesla from $341.00 to $471.00 and gave the company a “neutral” rating in a report on Wednesday, October 29th. Finally, Wedbush reaffirmed an “outperform” rating and set a $600.00 target price on shares of Tesla in a research note on Wednesday, November 5th. One analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, thirteen have assigned a Hold rating and nine have given a Sell rating to the company. Based on data from MarketBeat.com, Tesla currently has a consensus rating of “Hold” and an average target price of $398.92.

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.