ASB Consultores LLC Sells 2,310 Shares of Tesla, Inc. (NASDAQ:TSLA)

ASB Consultores LLC trimmed its holdings in Tesla, Inc. (NASDAQ:TSLA) by 39.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,562 shares of the electric vehicle producer’s stock after selling 2,310 shares during the quarter. ASB Consultores LLC’s holdings in Tesla were worth $705,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Bank & Trust Co bought a new stake in Tesla during the 2nd quarter valued at about $25,000. Valley Wealth Managers Inc. bought a new stake in Tesla during the 2nd quarter valued at about $26,000. OLD Point Trust & Financial Services N A bought a new stake in Tesla during the 4th quarter valued at about $37,000. Kessler Investment Group LLC increased its stake in Tesla by 35.9% during the 2nd quarter. Kessler Investment Group LLC now owns 193 shares of the electric vehicle producer’s stock valued at $38,000 after purchasing an additional 51 shares in the last quarter. Finally, Aspect Partners LLC increased its stake in Tesla by 121.3% during the 2nd quarter. Aspect Partners LLC now owns 208 shares of the electric vehicle producer’s stock valued at $41,000 after purchasing an additional 114 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Robyn M. Denholm sold 66,364 shares of Tesla stock in a transaction that occurred on 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 sale, 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 at this link. In related 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 value of $65,865.69. Following the sale, the senior vice president now owns 67,491 shares in the company, valued at $14,967,479.07. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robyn M. Denholm sold 66,364 shares of the business’s stock in a transaction on 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 owns 85,000 shares in the company, valued at approximately $18,696,600. The disclosure for this sale can be found here. Company insiders own 25.10% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on TSLA. China Renaissance upgraded shares of Tesla from a “hold” rating to a “buy” rating and set a $290.00 price objective for the company in a research note on Friday, July 5th. Morgan Stanley reaffirmed an “overweight” rating and set a $310.00 price target on shares of Tesla in a report on Thursday, September 5th. Roth Mkm reaffirmed a “neutral” rating and set a $85.00 price target on shares of Tesla in a report on Wednesday, July 24th. Piper Sandler reaffirmed an “overweight” rating and set a $300.00 price target on shares of Tesla in a report on Monday, August 19th. Finally, Wolfe Research assumed coverage on shares of Tesla in a report on Thursday, September 5th. They set a “peer perform” rating on the stock. Nine equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $209.60.

Tesla Price Performance

NASDAQ TSLA opened at $243.92 on Friday. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $273.93. The stock has a market cap of $777.91 billion, a price-to-earnings ratio of 62.22, a PEG ratio of 6.00 and a beta of 2.29. The company’s 50 day moving average is $221.50 and its two-hundred day moving average is $195.49. The company has a current ratio of 1.91, a quick ratio of 1.40 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data 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). The company had revenue of $25.50 billion for the quarter, compared to the consensus estimate of $24.38 billion. Tesla had a net margin of 13.00% and a return on equity of 10.41%. The company’s quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.78 EPS. As a group, research analysts anticipate that Tesla, Inc. will post 1.75 earnings per share for the current 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.