WealthTrust Asset Management LLC Reduces Position in Tesla, Inc. (NASDAQ:TSLA)

WealthTrust Asset Management LLC reduced its position in Tesla, Inc. (NASDAQ:TSLA) by 5.9% during the second quarter, HoldingsChannel.com reports. The firm owned 2,410 shares of the electric vehicle producer’s stock after selling 150 shares during the period. WealthTrust Asset Management LLC’s holdings in Tesla were worth $477,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Bank & Trust Co bought a new stake in shares of Tesla during the 2nd quarter worth approximately $25,000. Valley Wealth Managers Inc. purchased a new stake in Tesla in the second quarter worth $26,000. OLD Point Trust & Financial Services N A bought a new stake in shares of Tesla during the fourth quarter worth $37,000. Guardian Wealth Management Inc. purchased a new stake in shares of Tesla during the fourth quarter valued at $47,000. Finally, Kessler Investment Group LLC grew its holdings in shares of Tesla by 35.9% in the second quarter. Kessler Investment Group LLC now owns 193 shares of the electric vehicle producer’s stock worth $38,000 after purchasing an additional 51 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Canaccord Genuity Group reissued a “buy” rating and issued a $254.00 price objective on shares of Tesla in a research report on Friday, September 13th. China Renaissance upgraded Tesla from a “hold” rating to a “buy” rating and set a $290.00 price target for the company in a report on Friday, July 5th. Argus reissued a “buy” rating and issued a $286.00 price objective on shares of Tesla in a research note on Friday, July 26th. Barclays decreased their target price on Tesla from $225.00 to $220.00 and set an “equal weight” rating for the company in a research report on Thursday, July 25th. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $245.00 price target on shares of Tesla in a research report on Monday. Nine equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, Tesla presently has a consensus rating of “Hold” and a consensus target price of $209.60.

Tesla Stock Up 7.4 %

Tesla stock opened at $243.92 on Friday. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $273.93. The firm has a market cap of $777.91 billion, a price-to-earnings ratio of 62.22, a price-to-earnings-growth ratio of 6.00 and a beta of 2.29. The business’s 50-day moving average price is $221.50 and its 200 day moving average price is $195.49. The company has a quick ratio of 1.40, a current ratio of 1.91 and a debt-to-equity ratio of 0.08.

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 the consensus estimate of $0.62 by ($0.10). Tesla had a net margin of 13.00% and a return on equity of 10.41%. The firm had revenue of $25.50 billion for the quarter, compared to analysts’ expectations of $24.38 billion. During the same period last year, the firm earned $0.78 earnings per share. Tesla’s revenue for the quarter was up 2.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Tesla, Inc. will post 1.75 earnings per share for the current year.

Insiders Place Their Bets

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

Tesla Company 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.