WealthPLAN Partners LLC Lowers Stock Holdings in Tesla, Inc. $TSLA

WealthPLAN Partners LLC lessened its holdings in Tesla, Inc. (NASDAQ:TSLA) by 12.3% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 10,563 shares of the electric vehicle producer’s stock after selling 1,486 shares during the period. WealthPLAN Partners LLC’s holdings in Tesla were worth $3,355,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Cherry Tree Wealth Management LLC lifted its position in shares of Tesla by 86.3% in the 1st quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer’s stock worth $25,000 after purchasing an additional 44 shares during the period. First PREMIER Bank lifted its position in shares of Tesla by 79.2% in the 1st quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer’s stock worth $25,000 after purchasing an additional 42 shares during the period. Arcadia Investment Management Corp MI purchased a new stake in shares of Tesla in the 1st quarter worth approximately $27,000. Chelsea Counsel Co. lifted its position in shares of Tesla by 59.7% in the 1st quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock worth $28,000 after purchasing an additional 40 shares during the period. Finally, Evergreen Private Wealth LLC lifted its position in shares of Tesla by 270.0% in the 2nd quarter. Evergreen Private Wealth LLC now owns 111 shares of the electric vehicle producer’s stock worth $35,000 after purchasing an additional 81 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on TSLA shares. Royal Bank Of Canada upped their price target on shares of Tesla from $325.00 to $500.00 and gave the stock an “outperform” rating in a research report on Friday, October 10th. BNP Paribas Exane initiated coverage on shares of Tesla in a research report on Thursday. They set an “underperform” rating and a $307.00 target price for the company. Dbs Bank increased their target price on shares of Tesla from $300.00 to $450.00 in a research report on Wednesday, September 17th. Melius initiated coverage on shares of Tesla in a research report on Monday. They set a “buy” rating and a $520.00 target price for the company. Finally, Benchmark reissued a “buy” rating and set a $475.00 target price (up previously from $350.00) on shares of Tesla in a research report on Thursday, June 26th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, twelve have assigned a Hold rating and ten have given a Sell rating to the stock. According to MarketBeat.com, Tesla presently has a consensus rating of “Hold” and an average target price of $363.54.

Insider Buying and Selling at Tesla

In other news, SVP Xiaotong Zhu sold 20,000 shares of the stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $363.75, for a total value of $7,275,000.00. Following the sale, the senior vice president owned 47,600 shares in the company, valued at $17,314,500. This represents a 29.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James R. Murdoch sold 120,000 shares of the stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $350.29, for a total transaction of $42,034,800.00. Following the completion of the sale, the director owned 697,031 shares in the company, valued at $244,162,988.99. The trade was a 14.69% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 202,606 shares of company stock worth $75,588,902. 19.90% of the stock is owned by corporate insiders.

Tesla Trading Down 1.5%

Shares of Tesla stock opened at $428.75 on Friday. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a 12-month low of $212.11 and a 12-month high of $488.54. The firm has a market capitalization of $1.43 trillion, a price-to-earnings ratio of 247.83, a PEG ratio of 15.64 and a beta of 2.08. The firm’s 50 day simple moving average is $385.34 and its two-hundred day simple moving average is $332.07.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). Tesla had a net margin of 6.54% and a return on equity of 7.98%. The company had revenue of $22.50 billion for the quarter, compared to analyst estimates of $23.18 billion. During the same quarter 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. Analysts predict that Tesla, Inc. will post 2.56 EPS for the current 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.