Samalin Investment Counsel LLC Sells 798 Shares of Tesla, Inc. $TSLA

Samalin Investment Counsel LLC lessened its stake in Tesla, Inc. (NASDAQ:TSLA) by 11.9% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,890 shares of the electric vehicle producer’s stock after selling 798 shares during the quarter. Samalin Investment Counsel LLC’s holdings in Tesla were worth $1,871,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. Brighton Jones LLC increased its stake in Tesla by 11.8% in the fourth quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer’s stock valued at $35,509,000 after acquiring 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. Bison Wealth LLC boosted its holdings in shares of Tesla by 52.2% in the 4th 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 in the last quarter. FDx Advisors Inc. increased its stake in shares of Tesla by 13.7% in the 1st quarter. FDx Advisors Inc. now owns 1,902 shares of the electric vehicle producer’s stock valued at $493,000 after purchasing an additional 229 shares during the last quarter. Finally, Financial Security Advisor Inc. raised its holdings in shares of Tesla by 18.7% during the 1st quarter. Financial Security Advisor Inc. now owns 3,405 shares of the electric vehicle producer’s stock worth $882,000 after buying an additional 536 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Vaibhav Taneja sold 2,606 shares of the firm’s stock in a transaction dated 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 trade represents a 20.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Xiaotong Zhu sold 20,000 shares of Tesla stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $363.75, for a total value of $7,275,000.00. Following the completion of the transaction, the senior vice president directly owned 47,600 shares in the company, valued at approximately $17,314,500. This represents a 29.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 202,606 shares of company stock valued at $75,588,902. Company insiders own 19.90% of the company’s stock.

Tesla Price Performance

Shares of NASDAQ:TSLA opened at $429.52 on Monday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.67 and a current ratio of 2.07. Tesla, Inc. has a 52 week low of $214.25 and a 52 week high of $488.54. The firm has a market cap of $1.43 trillion, a PE ratio of 286.35, a price-to-earnings-growth ratio of 16.84 and a beta of 2.06. The firm’s fifty day moving average is $420.97 and its 200-day moving average is $356.28.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.02. The business had revenue of $28.10 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the prior year, the business posted $0.72 earnings per share. Sell-side analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on TSLA. Barclays reaffirmed a “negative” rating and issued a $350.00 price objective (up from $275.00) on shares of Tesla in a research note on Thursday, October 16th. President Capital increased their price objective on shares of Tesla from $373.00 to $529.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. BNP Paribas Exane started coverage on shares of Tesla in a research report on Thursday, October 16th. They issued an “underperform” rating and a $307.00 target price on the stock. Piper Sandler upped their price target on shares of Tesla from $400.00 to $500.00 and gave the stock an “overweight” rating in a report on Monday, September 22nd. Finally, Guggenheim reiterated a “sell” rating and issued a $175.00 price target on shares of Tesla in a research note on Wednesday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, thirteen have given a Hold rating and eleven have given a Sell rating to the company. Based on data from MarketBeat.com, Tesla currently has an average rating of “Hold” and an average price target of $391.08.

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.