Ashton Thomas Private Wealth LLC Sells 6,536 Shares of Tesla, Inc. (NASDAQ:TSLA)

Ashton Thomas Private Wealth LLC decreased its stake in Tesla, Inc. (NASDAQ:TSLA) by 58.9% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,557 shares of the electric vehicle producer’s stock after selling 6,536 shares during the period. Ashton Thomas Private Wealth LLC’s holdings in Tesla were worth $902,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Bank & Trust Co purchased a new position in Tesla in the second quarter valued at approximately $25,000. OLD Point Trust & Financial Services N A bought a new stake in shares of Tesla in the fourth quarter valued at $37,000. Guardian Wealth Management Inc. purchased a new position in shares of Tesla during the 4th quarter valued at $47,000. Kessler Investment Group LLC grew its stake in shares of Tesla by 35.9% during the 2nd quarter. Kessler Investment Group LLC now owns 193 shares of the electric vehicle producer’s stock worth $38,000 after acquiring an additional 51 shares during the period. Finally, A.P. Gilfoyle & Co. L.P. purchased a new stake in Tesla in the 4th quarter worth about $50,000. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Tesla Price Performance

TSLA opened at $226.17 on Wednesday. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.91 and a quick ratio of 1.40. The stock’s 50 day simple moving average is $224.49 and its 200 day simple moving average is $193.96. The firm has a market cap of $722.53 billion, a price-to-earnings ratio of 57.70, a PEG ratio of 5.57 and a beta of 2.29. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $278.98.

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

Analysts Set New Price Targets

TSLA has been the subject of a number of research reports. Mizuho increased their target price on shares of Tesla from $180.00 to $230.00 and gave the stock a “neutral” rating in a research report on Friday, July 12th. The Goldman Sachs Group cut their price objective on shares of Tesla from $248.00 to $230.00 and set a “neutral” rating for the company in a report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $295.00 target price on shares of Tesla in a report on Tuesday. Roth Mkm restated a “neutral” rating and issued a $85.00 target price on shares of Tesla in a research note on Wednesday, July 24th. Finally, Barclays decreased their price target on Tesla from $225.00 to $220.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 25th. Nine equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, Tesla presently has a consensus rating of “Hold” and a consensus target price of $209.03.

Insiders Place Their Bets

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