SeaCrest Wealth Management LLC Sells 1,302 Shares of Tesla, Inc. $TSLA

SeaCrest Wealth Management LLC cut its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 6.9% during the second quarter, HoldingsChannel.com reports. The firm owned 17,609 shares of the electric vehicle producer’s stock after selling 1,302 shares during the period. Tesla accounts for 0.6% of SeaCrest Wealth Management LLC’s portfolio, making the stock its 23rd biggest position. SeaCrest Wealth Management LLC’s holdings in Tesla were worth $5,594,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of TSLA. Diversified Trust Co boosted its holdings in shares of Tesla by 2.5% in the second quarter. Diversified Trust Co now owns 53,192 shares of the electric vehicle producer’s stock valued at $16,897,000 after acquiring an additional 1,296 shares in the last quarter. Perpetual Ltd raised its holdings in Tesla by 11.2% during the 2nd quarter. Perpetual Ltd now owns 4,705 shares of the electric vehicle producer’s stock worth $1,495,000 after purchasing an additional 475 shares during the last quarter. International Private Wealth Advisors LLC acquired a new position in Tesla during the 2nd quarter worth approximately $519,000. TCV Trust & Wealth Management Inc. increased its position in shares of Tesla by 3.7% in the second quarter. TCV Trust & Wealth Management Inc. now owns 1,129 shares of the electric vehicle producer’s stock worth $359,000 after purchasing an additional 40 shares during the period. Finally, Mandatum Life Insurance Co Ltd increased its holdings in Tesla by 33.8% in the second quarter. Mandatum Life Insurance Co Ltd now owns 2,940 shares of the electric vehicle producer’s stock worth $934,000 after purchasing an additional 743 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insider Transactions at Tesla

In related news, CFO Vaibhav Taneja sold 2,606 shares of the firm’s stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $352.38, for a total value of $918,302.28. Following the completion of the transaction, the chief financial officer owned 9,856 shares in the company, valued at $3,473,057.28. This trade represents a 20.91% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Xiaotong Zhu sold 20,000 shares of the business’s stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the completion of the transaction, the senior vice president directly owned 47,600 shares in the company, valued at $17,314,500. This trade represents a 29.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 208,606 shares of company stock valued at $77,360,462 over the last 90 days. 20.70% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have commented on TSLA shares. Glj Research reissued a “sell” rating on shares of Tesla in a report on Thursday, July 24th. William Blair reaffirmed a “market perform” rating on shares of Tesla in a report on Friday, September 5th. Robert W. Baird upgraded shares of Tesla from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $320.00 to $548.00 in a research note on Friday. Piper Sandler reaffirmed an “overweight” rating and set a $400.00 price target on shares of Tesla in a research note on Tuesday, June 10th. Finally, The Goldman Sachs Group boosted their price target on Tesla from $300.00 to $395.00 and gave the company a “neutral” rating in a research note on Thursday. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, thirteen have issued a Hold rating and nine have assigned a Sell rating to the company’s stock. According to MarketBeat, Tesla currently has a consensus rating of “Hold” and an average target price of $317.70.

Tesla Stock Up 2.2%

Tesla stock opened at $426.07 on Friday. The stock’s fifty day simple moving average is $340.68 and its 200-day simple moving average is $308.15. Tesla, Inc. has a twelve month low of $212.11 and a twelve month high of $488.54. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $1.42 trillion, a P/E ratio of 246.28, a P/E/G ratio of 14.54 and a beta of 2.06.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, July 23rd. The electric vehicle producer reported $0.40 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). The firm had revenue of $22.50 billion during the quarter, compared to analyst estimates of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%.The business’s quarterly revenue was down 11.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.52 EPS. As a group, equities analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

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.