Milestone Asset Management LLC Lowers Holdings in Tesla, Inc. $TSLA

Milestone Asset Management LLC decreased its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 7.7% in the second quarter, Holdings Channel reports. The institutional investor owned 9,178 shares of the electric vehicle producer’s stock after selling 767 shares during the quarter. Milestone Asset Management LLC’s holdings in Tesla were worth $2,915,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Brighton Jones LLC raised its stake in shares of Tesla by 11.8% in the fourth quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer’s stock worth $35,509,000 after purchasing an additional 9,293 shares during the last quarter. Revolve Wealth Partners LLC raised its stake in shares of Tesla by 21.2% in 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. Bison Wealth LLC raised its stake in shares of Tesla by 52.2% in the fourth quarter. Bison Wealth LLC now owns 10,368 shares of the electric vehicle producer’s stock worth $4,187,000 after purchasing an additional 3,558 shares during the last quarter. Compass Wealth Management LLC raised its stake in shares of Tesla by 360.0% in the first quarter. Compass Wealth Management LLC now owns 115 shares of the electric vehicle producer’s stock worth $30,000 after purchasing an additional 90 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its stake in shares of Tesla by 4.7% in the first quarter. Envestnet Asset Management Inc. now owns 1,267,853 shares of the electric vehicle producer’s stock worth $328,577,000 after purchasing an additional 57,189 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Price Performance

Shares of Tesla stock opened at $468.37 on Tuesday. The stock has a 50 day moving average of $412.95 and a 200 day moving average of $350.47. Tesla, Inc. has a 12 month low of $214.25 and a 12 month high of $488.54. The firm has a market cap of $1.56 trillion, a PE ratio of 312.25, a PEG 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 announced its quarterly earnings results on Wednesday, October 22nd. The electric vehicle producer reported $0.50 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $24.98 billion. During the same period in the prior year, the company earned $0.72 earnings per share. The firm’s revenue was up 11.6% on a year-over-year basis. On average, research analysts expect that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Activity

In other news, Director James R. Murdoch sold 60,000 shares of the firm’s stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $422.68, for a total value of $25,360,800.00. Following the completion of the sale, the director directly owned 637,031 shares of the company’s stock, valued at $269,260,263.08. This trade represents a 8.61% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 sale, the chief financial officer directly owned 9,856 shares of the company’s stock, valued at $3,473,057.28. The trade was a 20.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 202,606 shares of company stock valued at $75,588,902 in the last ninety days. Insiders own 19.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on TSLA. Royal Bank Of Canada reiterated an “outperform” rating and set a $500.00 price objective on shares of Tesla in a research report on Thursday, October 23rd. Benchmark reissued a “buy” rating on shares of Tesla in a report on Thursday, October 23rd. William Blair reissued a “market perform” rating on shares of Tesla in a report on Friday, September 5th. Wedbush reissued an “outperform” rating and set a $600.00 price target on shares of Tesla in a report on Monday, October 20th. Finally, Bank of America upped their price objective on Tesla from $341.00 to $471.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, twelve have issued a Hold rating and eleven have assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $390.27.

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.