Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Gradient Investments LLC

Gradient Investments LLC trimmed its position in Tesla, Inc. (NASDAQ:TSLA) by 36.5% in the second quarter, HoldingsChannel.com reports. The firm owned 5,790 shares of the electric vehicle producer’s stock after selling 3,330 shares during the quarter. Gradient Investments LLC’s holdings in Tesla were worth $1,516,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of TSLA. Norges Bank acquired a new stake in shares of Tesla during the 4th quarter valued at $3,459,540,000. Moneta Group Investment Advisors LLC lifted its position in shares of Tesla by 180,125.4% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 26,851,778 shares of the electric vehicle producer’s stock valued at $3,307,602,000 after acquiring an additional 26,836,879 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Tesla by 203.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 20,208,699 shares of the electric vehicle producer’s stock valued at $5,360,358,000 after acquiring an additional 13,558,882 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Tesla by 52.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 26,224,189 shares of the electric vehicle producer’s stock valued at $5,440,471,000 after acquiring an additional 9,034,938 shares during the last quarter. Finally, Morgan Stanley lifted its position in shares of Tesla by 26.3% during the 4th quarter. Morgan Stanley now owns 25,427,168 shares of the electric vehicle producer’s stock valued at $3,132,119,000 after acquiring an additional 5,292,464 shares during the last quarter. Institutional investors and hedge funds own 41.87% of the company’s stock.

Insider Activity at Tesla

In related news, SVP Xiaotong Zhu sold 1,065 shares of the stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $249.62, for a total value of $265,845.30. Following the completion of the sale, the senior vice president now owns 59,540 shares in the company, valued at $14,862,374.80. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, SVP Xiaotong Zhu sold 1,065 shares of the stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $249.62, for a total value of $265,845.30. Following the completion of the transaction, the senior vice president now owns 59,540 shares of the company’s stock, valued at $14,862,374.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Zachary Kirkhorn sold 3,750 shares of the stock in a transaction dated Wednesday, July 5th. The stock was sold at an average price of $278.70, for a total transaction of $1,045,125.00. Following the completion of the transaction, the chief financial officer now directly owns 197,540 shares of the company’s stock, valued at approximately $55,054,398. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 55,815 shares of company stock worth $14,384,135. Company insiders own 25.10% of the company’s stock.

Tesla Stock Down 0.6 %

TSLA stock opened at $274.39 on Monday. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.59 and a quick ratio of 1.07. Tesla, Inc. has a 52-week low of $101.81 and a 52-week high of $313.80. The company has a 50-day moving average of $255.83 and a two-hundred day moving average of $220.81. The stock has a market capitalization of $870.91 billion, a price-to-earnings ratio of 77.73, a price-to-earnings-growth ratio of 4.30 and a beta of 2.09.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, July 19th. The electric vehicle producer reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.22. Tesla had a net margin of 12.97% and a return on equity of 26.10%. The company had revenue of $24.93 billion during the quarter, compared to analysts’ expectations of $24.22 billion. During the same period in the prior year, the company earned $0.65 earnings per share. The business’s quarterly revenue was up 47.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Tesla, Inc. will post 2.94 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on TSLA shares. Royal Bank of Canada reiterated an “outperform” rating and set a $305.00 price objective on shares of Tesla in a research report on Tuesday, September 12th. Wells Fargo & Company boosted their target price on shares of Tesla from $170.00 to $265.00 and gave the company an “equal weight” rating in a research note on Monday, July 17th. Mizuho boosted their target price on shares of Tesla from $300.00 to $330.00 in a research note on Thursday, July 20th. Guggenheim reissued a “sell” rating and set a $125.00 target price on shares of Tesla in a research note on Wednesday, August 30th. Finally, Morgan Stanley raised shares of Tesla from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $250.00 to $400.00 in a research note on Sunday, September 10th. Six investment analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $239.43.

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. It 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, retail merchandise, and vehicle insurance services.