Retirement Investment Advisors Inc. Sells 288 Shares of Tesla, Inc. $TSLA

Retirement Investment Advisors Inc. trimmed its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 9.7% during the second quarter, HoldingsChannel.com reports. The firm owned 2,670 shares of the electric vehicle producer’s stock after selling 288 shares during the quarter. Retirement Investment Advisors Inc.’s holdings in Tesla were worth $848,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. First Merchants Corp boosted its position in shares of Tesla by 1.3% in the second quarter. First Merchants Corp now owns 2,413 shares of the electric vehicle producer’s stock valued at $767,000 after acquiring an additional 31 shares during the period. Alaska Wealth Advisors increased its holdings in Tesla by 3.4% during the 2nd quarter. Alaska Wealth Advisors now owns 985 shares of the electric vehicle producer’s stock worth $313,000 after acquiring an additional 32 shares during the period. KWB Wealth lifted its stake in Tesla by 2.4% in the 2nd quarter. KWB Wealth now owns 1,381 shares of the electric vehicle producer’s stock worth $439,000 after purchasing an additional 33 shares in the last quarter. Conrad Siegel Investment Advisors Inc. boosted its holdings in Tesla by 3.6% in the 2nd quarter. Conrad Siegel Investment Advisors Inc. now owns 976 shares of the electric vehicle producer’s stock valued at $310,000 after purchasing an additional 34 shares during the period. Finally, Guyasuta Investment Advisors Inc. grew its position in shares of Tesla by 0.7% during the 2nd quarter. Guyasuta Investment Advisors Inc. now owns 5,107 shares of the electric vehicle producer’s stock valued at $1,622,000 after purchasing an additional 34 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Transactions at Tesla

In related 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 $17,314,500. The trade was a 29.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director James R. Murdoch sold 120,000 shares of the stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $350.29, for a total transaction of $42,034,800.00. Following the sale, the director directly owned 697,031 shares of the company’s stock, valued at $244,162,988.99. The trade was a 14.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 202,606 shares of company stock worth $75,588,902. Insiders own 19.90% of the company’s stock.

Tesla Stock Down 3.7%

Shares of NASDAQ:TSLA opened at $429.52 on Friday. The stock has a market capitalization of $1.43 trillion, a P/E ratio of 286.35, a price-to-earnings-growth ratio of 16.84 and a beta of 2.06. The stock’s 50-day moving average price is $420.97 and its 200-day moving average price is $354.73. 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, Inc. has a 12-month low of $214.25 and a 12-month high of $488.54.

Tesla (NASDAQ:TSLA) last issued its earnings results on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.02. The company had revenue of $28.10 billion during the quarter, compared to analysts’ expectations of $24.98 billion. Tesla had a return on equity of 6.61% and a net margin of 5.51%.Tesla’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.72 EPS. On average, equities analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current year.

Analyst Upgrades and Downgrades

TSLA has been the subject of several research analyst reports. Dbs Bank raised Tesla to a “hold” rating in a research note on Wednesday. Glj Research reiterated a “sell” rating on shares of Tesla in a research report on Wednesday, October 22nd. Canaccord Genuity Group decreased their price objective on shares of Tesla from $490.00 to $482.00 and set a “buy” rating on the stock in a research report on Thursday, October 23rd. CICC Research lifted their target price on shares of Tesla from $360.00 to $450.00 and gave the company an “outperform” rating in a research report on Thursday, September 18th. Finally, New Street Research increased their price target on shares of Tesla from $465.00 to $520.00 and gave the stock a “buy” rating in a report on Thursday, October 23rd. One research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, thirteen have assigned a Hold rating and eleven have given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $391.08.

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.