Tesla, Inc. $TSLA Position Reduced by Plancorp LLC

Plancorp LLC lowered its stake in Tesla, Inc. (NASDAQ:TSLA) by 10.5% in the 2nd quarter, Holdings Channel.com reports. The firm owned 8,882 shares of the electric vehicle producer’s stock after selling 1,040 shares during the period. Plancorp LLC’s holdings in Tesla were worth $2,821,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Brighton Jones LLC lifted its holdings in Tesla by 11.8% during the 4th quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer’s stock worth $35,509,000 after buying an additional 9,293 shares during the last quarter. Revolve Wealth Partners LLC lifted its stake in Tesla by 21.2% during the fourth quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer’s stock worth $2,147,000 after purchasing an additional 931 shares during the last quarter. Mascagni Wealth Management Inc. bought a new position in Tesla during the fourth quarter worth $346,000. Bison Wealth LLC increased its stake in Tesla by 52.2% during the fourth quarter. Bison Wealth LLC now owns 10,368 shares of the electric vehicle producer’s stock valued at $4,187,000 after purchasing an additional 3,558 shares during the last quarter. Finally, NorthCrest Asset Manangement LLC increased its stake in Tesla by 36.8% during the fourth quarter. NorthCrest Asset Manangement LLC now owns 11,989 shares of the electric vehicle producer’s stock valued at $4,842,000 after purchasing an additional 3,224 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

Insider Buying and Selling at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 20,000 shares of the business’s stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the sale, the senior vice president directly owned 47,600 shares in the company, valued at approximately $17,314,500. The trade was a 29.59% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $292.89, for a total transaction of $1,171,560.00. Following the completion of the transaction, the chief financial officer owned 5,924 shares of the company’s stock, valued at $1,735,080.36. This trade represents a 40.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 208,606 shares of company stock valued at $77,360,462. Company insiders own 19.90% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on TSLA shares. The Goldman Sachs Group lifted their price target on shares of Tesla from $300.00 to $395.00 and gave the company a “neutral” rating in a report on Thursday, September 18th. Wedbush reissued an “outperform” rating and issued a $500.00 target price on shares of Tesla in a report on Monday, September 15th. UBS Group reaffirmed a “sell” rating on shares of Tesla in a report on Monday. Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a research report on Thursday, July 24th. Finally, Bank of America boosted their price objective on Tesla from $305.00 to $341.00 and gave the company a “neutral” rating in a research report on Monday, July 21st. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, twelve have given a Hold rating and nine have given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $326.74.

Tesla Stock Down 4.4%

TSLA opened at $423.39 on Friday. The stock’s 50 day moving average price is $349.83 and its 200 day moving average price is $312.97. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55. The stock has a market cap of $1.41 trillion, a P/E ratio of 244.73, a P/E/G ratio of 15.45 and a beta of 2.06. Tesla, Inc. has a 12 month low of $212.11 and a 12 month high of $488.54.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.03). Tesla had a return on equity of 7.98% and a net margin of 6.54%.The business had revenue of $22.50 billion during the quarter, compared to the consensus estimate of $23.18 billion. During the same period in the previous year, the company posted $0.52 EPS. The company’s revenue for the quarter was down 11.8% compared to the same quarter last year. As a group, research analysts predict that Tesla, Inc. will post 2.56 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.