Lake Street Advisors Group LLC Sells 4,779 Shares of Tesla, Inc. (NASDAQ:TSLA)

Lake Street Advisors Group LLC trimmed its stake in Tesla, Inc. (NASDAQ:TSLA) by 20.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 18,542 shares of the electric vehicle producer’s stock after selling 4,779 shares during the period. Lake Street Advisors Group LLC’s holdings in Tesla were worth $3,669,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of TSLA. Integris Wealth Management LLC lifted its holdings in shares of Tesla by 1.0% during the 2nd quarter. Integris Wealth Management LLC now owns 4,065 shares of the electric vehicle producer’s stock worth $804,000 after acquiring an additional 42 shares during the last quarter. Echo Wealth Management LLC lifted its stake in Tesla by 0.7% during the second quarter. Echo Wealth Management LLC now owns 6,474 shares of the electric vehicle producer’s stock worth $1,281,000 after purchasing an additional 44 shares during the last quarter. WASHINGTON TRUST Co boosted its holdings in shares of Tesla by 3.2% in the 2nd quarter. WASHINGTON TRUST Co now owns 1,433 shares of the electric vehicle producer’s stock worth $284,000 after purchasing an additional 45 shares in the last quarter. Bellevue Asset Management LLC increased its position in shares of Tesla by 1.6% during the 2nd quarter. Bellevue Asset Management LLC now owns 2,868 shares of the electric vehicle producer’s stock valued at $568,000 after purchasing an additional 45 shares during the last quarter. Finally, Cypress Capital Group raised its holdings in shares of Tesla by 1.7% during the 2nd quarter. Cypress Capital Group now owns 2,806 shares of the electric vehicle producer’s stock valued at $555,000 after buying an additional 47 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Buying and Selling at Tesla

In other news, Director Robyn M. Denholm sold 66,364 shares of the 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 $18,696,600. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 25.10% of the stock is owned by company insiders.

Tesla Stock Down 8.4 %

Shares of Tesla stock opened at $210.73 on Friday. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $278.98. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.91 and a quick ratio of 1.40. The company has a 50-day moving average of $224.47 and a 200 day moving average of $193.60. The firm has a market cap of $673.21 billion, a price-to-earnings ratio of 53.76, a PEG ratio of 5.80 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last released its 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 net margin of 13.00% and a return on equity of 10.41%. The business had revenue of $25.50 billion for the quarter, compared to analysts’ expectations of $24.38 billion. During the same quarter in the previous year, the business posted $0.78 earnings per share. Tesla’s revenue for the quarter was up 2.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Tesla, Inc. will post 1.75 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

TSLA has been the topic of a number of recent research reports. Canaccord Genuity Group increased their price target on shares of Tesla from $222.00 to $254.00 and gave the company a “buy” rating in a research report on Wednesday, July 3rd. Guggenheim reissued a “sell” rating and issued a $134.00 price target on shares of Tesla in a research note on Tuesday, July 23rd. Argus reaffirmed a “buy” rating and set a $286.00 price objective on shares of Tesla in a research note on Friday, July 26th. Oppenheimer reiterated a “market perform” rating on shares of Tesla in a report on Tuesday, July 9th. Finally, Roth Mkm restated a “neutral” rating and set a $85.00 target price on shares of Tesla in a report on Wednesday, July 24th. Nine analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, Tesla has an average rating of “Hold” and an average price target of $204.21.

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.