B. Riley Wealth Advisors Inc. Has $14.95 Million Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

B. Riley Wealth Advisors Inc. lowered its holdings in Tesla, Inc. (NASDAQ:TSLA) by 20.7% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 75,545 shares of the electric vehicle producer’s stock after selling 19,758 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Tesla were worth $14,949,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in TSLA. Bank & Trust Co bought a new stake in Tesla in the 2nd quarter valued at $25,000. Valley Wealth Managers Inc. bought a new position in Tesla during the second quarter valued at about $26,000. Abich Financial Wealth Management LLC raised its holdings in Tesla by 168.8% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock valued at $26,000 after acquiring an additional 81 shares in the last quarter. OLD Point Trust & Financial Services N A bought a new stake in shares of Tesla in the 4th quarter worth approximately $37,000. Finally, Kessler Investment Group LLC grew its holdings 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 purchasing an additional 51 shares in the last quarter. 66.20% of the stock is owned by institutional investors.

Tesla Price Performance

Shares of TSLA opened at $260.46 on Monday. The company has a 50 day moving average of $221.89 and a 200-day moving average of $198.88. The company has a quick ratio of 1.40, a current ratio of 1.91 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $830.66 billion, a P/E ratio of 66.44, a P/E/G ratio of 6.92 and a beta of 2.29. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $271.00.

Tesla (NASDAQ:TSLA) last posted its quarterly 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 for the quarter, compared to the consensus estimate of $24.38 billion. During the same period last year, the company posted $0.78 earnings per share. The business’s revenue was up 2.3% compared to the same quarter last year. As a group, equities research analysts forecast that Tesla, Inc. will post 1.75 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Robyn M. Denholm sold 66,364 shares of the firm’s stock in a transaction that occurred on 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 sale, the director now directly owns 85,000 shares of the company’s stock, valued at $18,696,600. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction that occurred 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 transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Robyn M. Denholm sold 66,364 shares of Tesla stock in a transaction on 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 sale, the director now directly owns 85,000 shares of the company’s stock, valued at approximately $18,696,600. The disclosure for this sale can be found here. Insiders have sold a total of 74,661 shares of company stock valued at $16,663,291 over the last 90 days. 25.10% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Sanford C. Bernstein restated an “underperform” rating and issued a $120.00 target price on shares of Tesla in a research note on Monday, June 10th. Royal Bank of Canada reiterated an “outperform” rating and set a $224.00 target price on shares of Tesla in a research report on Wednesday, September 25th. Cantor Fitzgerald reissued a “neutral” rating and issued a $245.00 price target on shares of Tesla in a research report on Monday, September 23rd. Citigroup lowered their price objective on Tesla from $274.00 to $258.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 24th. Finally, UBS Group lowered Tesla from a “neutral” rating to a “sell” rating and boosted their price target for the company from $147.00 to $197.00 in a research note on Friday, July 12th. Nine analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, Tesla currently has a consensus rating of “Hold” and a consensus target price of $209.90.

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.