Earned Wealth Advisors LLC Trims Stake in Tesla, Inc. $TSLA

Earned Wealth Advisors LLC reduced its position in Tesla, Inc. (NASDAQ:TSLA) by 1.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,150 shares of the electric vehicle producer’s stock after selling 102 shares during the quarter. Earned Wealth Advisors LLC’s holdings in Tesla were worth $1,953,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Arcadia Investment Management Corp MI purchased a new stake in Tesla in the first quarter worth $27,000. Chelsea Counsel Co. increased its stake in Tesla by 59.7% in the first 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. Centennial Bank AR increased its stake in Tesla by 833.3% in the 1st quarter. Centennial Bank AR now owns 112 shares of the electric vehicle producer’s stock worth $29,000 after buying an additional 100 shares during the period. LGT Financial Advisors LLC purchased a new position in Tesla in the 2nd quarter worth about $29,000. Finally, Compass Wealth Management LLC increased its stake in Tesla by 360.0% in the 1st quarter. Compass Wealth Management LLC now owns 115 shares of the electric vehicle producer’s stock worth $30,000 after buying an additional 90 shares during the period. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 20,000 shares of Tesla 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 transaction, the senior vice president directly owned 47,600 shares of the company’s stock, valued at approximately $17,314,500. The trade was a 29.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Vaibhav Taneja sold 2,606 shares of Tesla stock in a transaction on Monday, September 8th. The stock was sold at an average price of $352.38, for a total transaction of $918,302.28. Following the completion of the transaction, the chief financial officer directly owned 9,856 shares in the company, valued at $3,473,057.28. This represents a 20.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 202,606 shares of company stock valued at $75,588,902 in the last 90 days. Insiders own 19.90% of the company’s stock.

Tesla Trading Down 4.6%

Shares of NASDAQ:TSLA opened at $440.10 on Friday. Tesla, Inc. has a 12-month low of $214.25 and a 12-month high of $488.54. The business’s fifty day simple moving average is $408.19 and its 200-day simple moving average is $346.05. The company has a market capitalization of $1.46 trillion, a PE ratio of 293.40, a P/E/G ratio of 16.84 and a beta of 2.08. The company has a current ratio of 2.07, a quick ratio of 1.67 and a debt-to-equity ratio of 0.07.

Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, October 22nd. The electric vehicle producer reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.02. Tesla had a return on equity of 6.61% and a net margin of 5.51%.The company had revenue of $28.10 billion for the quarter, compared to analyst estimates of $24.98 billion. During the same quarter in the previous year, the firm earned $0.72 earnings per share. The firm’s quarterly revenue was up 11.6% compared to the same quarter last year. As a group, equities research analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Dbs Bank raised their target price on shares of Tesla from $300.00 to $450.00 in a research report on Wednesday, September 17th. BNP Paribas Exane initiated coverage on Tesla in a report on Thursday, October 16th. They set an “underperform” rating and a $307.00 price objective on the stock. Robert W. Baird upgraded Tesla from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $320.00 to $548.00 in a report on Friday, September 19th. William Blair restated a “market perform” rating on shares of Tesla in a report on Friday, September 5th. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $500.00 price target on shares of Tesla in a research note on Thursday, October 23rd. One analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, twelve have given a Hold rating and eleven have assigned a Sell rating to the company. According to data from MarketBeat, Tesla has an average rating of “Hold” and a consensus price target of $388.51.

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.