Resonant Capital Advisors LLC Sells 1,084 Shares of Tesla, Inc. (NASDAQ:TSLA)

Resonant Capital Advisors LLC decreased its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 21.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,918 shares of the electric vehicle producer’s stock after selling 1,084 shares during the period. Resonant Capital Advisors LLC’s holdings in Tesla were worth $775,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Bank & Trust Co bought a new stake in Tesla during the second quarter worth about $25,000. OLD Point Trust & Financial Services N A purchased a new position in Tesla in the fourth quarter worth about $37,000. Kessler Investment Group LLC raised its holdings in shares of Tesla by 35.9% during the second 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 during the last quarter. Aspect Partners LLC raised its holdings in shares of Tesla by 121.3% during the second 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 during the last quarter. Finally, 1620 Investment Advisors Inc. purchased a new position in shares of Tesla during the second quarter valued at approximately $42,000. Institutional investors own 66.20% of the company’s stock.

Tesla Trading Up 3.8 %

Shares of TSLA opened at $214.11 on Tuesday. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $278.98. The company has a market cap of $684.00 billion, a P/E ratio of 54.62, a P/E/G ratio of 5.55 and a beta of 2.29. The company has a current ratio of 1.91, a quick ratio of 1.40 and a debt-to-equity ratio of 0.08. The company’s fifty day simple moving average is $222.63 and its 200-day simple moving average is $193.01.

Tesla (NASDAQ:TSLA) last announced 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 during the quarter, compared to analysts’ expectations of $24.38 billion. During the same period in the prior year, the company posted $0.78 EPS. The company’s revenue was up 2.3% compared to the same quarter last year. As a group, analysts expect that Tesla, Inc. will post 1.79 EPS for the current year.

Insider Activity

In related news, SVP Xiaotong Zhu sold 650 shares of the firm’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $174.21, for a total value of $113,236.50. Following the transaction, the senior vice president now owns 65,155 shares of the company’s stock, valued at approximately $11,350,652.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, SVP Xiaotong Zhu sold 650 shares of the firm’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $174.21, for a total value of $113,236.50. Following the transaction, the senior vice president now owns 65,155 shares of the company’s stock, valued at approximately $11,350,652.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 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 transaction, the director now directly owns 85,000 shares in the company, valued at approximately $18,696,600. The disclosure for this sale can be found here. Insiders own 25.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on TSLA shares. Robert W. Baird restated an “outperform” rating and set a $280.00 target price on shares of Tesla in a research report on Tuesday, August 20th. Argus restated a “buy” rating and set a $286.00 target price on shares of Tesla in a research report on Friday, July 26th. Mizuho boosted their target price on shares of Tesla from $180.00 to $230.00 and gave the company a “neutral” rating in a research report on Friday, July 12th. UBS Group lowered shares of Tesla from a “neutral” rating to a “sell” rating and boosted their target price for the company from $147.00 to $197.00 in a research report on Friday, July 12th. Finally, KGI Securities restated a “neutral” rating and set a $236.00 target price on shares of Tesla 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 twelve have assigned a buy rating to the company’s stock. According to MarketBeat, Tesla presently has an average rating of “Hold” and an average target price of $204.21.

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.