9258 Wealth Management LLC Sells 947 Shares of Tesla, Inc. (NASDAQ:TSLA)

9258 Wealth Management LLC trimmed its holdings in Tesla, Inc. (NASDAQ:TSLA) by 19.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,013 shares of the electric vehicle producer’s stock after selling 947 shares during the quarter. 9258 Wealth Management LLC’s holdings in Tesla were worth $794,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of TSLA. Bank & Trust Co bought a new stake in Tesla in the second quarter worth $25,000. OLD Point Trust & Financial Services N A purchased a new position in Tesla in the fourth quarter worth about $37,000. Guardian Wealth Management Inc. bought a new position in shares of Tesla in the fourth quarter worth approximately $47,000. Kessler Investment Group LLC grew 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 buying an additional 51 shares during the last quarter. Finally, A.P. Gilfoyle & Co. L.P. bought a new stake in shares of Tesla during the fourth quarter valued at approximately $50,000. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

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 approximately $18,696,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 25.10% of the stock is currently owned by company insiders.

Analyst Ratings Changes

TSLA has been the topic of several recent analyst reports. Wolfe Research initiated coverage on Tesla in a research note on Thursday. They set a “peer perform” rating on the stock. Roth Mkm reiterated a “neutral” rating and set a $85.00 target price on shares of Tesla in a research note on Wednesday, July 24th. Barclays dropped their price target on Tesla from $225.00 to $220.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 25th. Sanford C. Bernstein reissued an “underperform” rating and issued a $120.00 target price on shares of Tesla in a report on Monday, June 10th. Finally, Robert W. Baird reaffirmed an “outperform” rating and set a $280.00 price target on shares of Tesla in a research report on Tuesday, August 20th. Nine equities research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and twelve 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 $204.21.

Tesla Price Performance

Shares of NASDAQ TSLA traded up $10.67 during midday trading on Thursday, reaching $230.08. 79,662,432 shares of the stock traded hands, compared to its average volume of 97,166,398. The company’s 50 day moving average is $223.55 and its 200 day moving average is $193.27. Tesla, Inc. has a one year low of $138.80 and a one year high of $278.98. The stock has a market capitalization of $735.02 billion, a PE ratio of 59.05, a P/E/G ratio of 5.55 and a beta of 2.29. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.91 and a quick ratio of 1.40.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Tuesday, July 23rd. The electric vehicle producer reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). The business had revenue of $25.50 billion during the quarter, compared to analysts’ expectations of $24.38 billion. Tesla had a return on equity of 10.41% and a net margin of 13.00%. The business’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.78 earnings per share. On average, equities research analysts anticipate that Tesla, Inc. will post 1.79 earnings per share for the current year.

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.