Mountain Capital Investment Advisors Inc. Sells 868 Shares of Tesla, Inc. $TSLA

Mountain Capital Investment Advisors Inc. cut its holdings in Tesla, Inc. (NASDAQ:TSLA) by 5.7% during the second quarter, Holdings Channel.com reports. The firm owned 14,484 shares of the electric vehicle producer’s stock after selling 868 shares during the quarter. Tesla accounts for about 0.8% of Mountain Capital Investment Advisors Inc.’s portfolio, making the stock its 11th biggest position. Mountain Capital Investment Advisors Inc.’s holdings in Tesla were worth $4,355,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. First PREMIER Bank raised its stake in 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 in the last quarter. Arcadia Investment Management Corp MI bought a new position in Tesla in the 1st quarter valued at approximately $27,000. Chelsea Counsel Co. lifted its holdings in shares of Tesla by 59.7% during 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. Evergreen Private Wealth LLC increased its position in Tesla by 270.0% during the 2nd quarter. Evergreen Private Wealth LLC now owns 111 shares of the electric vehicle producer’s stock valued at $35,000 after purchasing an additional 81 shares during the period. Finally, Centennial Bank AR lifted its stake in shares of Tesla by 833.3% in the 1st quarter. Centennial Bank AR now owns 112 shares of the electric vehicle producer’s stock valued at $29,000 after purchasing an additional 100 shares during the period. Institutional investors own 66.20% of the company’s stock.

Tesla Trading Up 2.5%

Shares of Tesla stock opened at $439.31 on Monday. Tesla, Inc. has a 1-year low of $212.11 and a 1-year high of $488.54. The stock has a market capitalization of $1.46 trillion, a PE ratio of 253.94, a P/E/G ratio of 15.79 and a beta of 2.08. The company’s fifty day simple moving average is $387.54 and its 200-day simple moving average is $334.06. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). The firm had revenue of $22.50 billion during the quarter, compared to the consensus estimate of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%.The business’s revenue for the quarter was down 11.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.52 earnings per share. As a group, equities analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on TSLA shares. Evercore ISI raised their price objective on shares of Tesla from $235.00 to $300.00 and gave the company an “in-line” rating in a research note on Monday, October 13th. HSBC lifted their price objective on Tesla from $120.00 to $127.00 in a research note on Monday, September 29th. Melius assumed coverage on shares of Tesla in a research report on Monday, October 13th. They set a “buy” rating and a $520.00 price target on the stock. Robert W. Baird raised shares of Tesla from a “neutral” rating to an “outperform” rating and increased their price target for the company from $320.00 to $548.00 in a research report on Friday, September 19th. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of Tesla in a research report on Wednesday. Two analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, twelve have issued a Hold rating and ten have assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $363.54.

Insider Transactions at Tesla

In related news, Director James R. Murdoch sold 60,000 shares of the firm’s stock in a transaction on Monday, September 15th. The shares were sold at an average price of $422.68, for a total value of $25,360,800.00. Following the completion of the transaction, the director directly owned 637,031 shares of the company’s stock, valued at approximately $269,260,263.08. This trade represents a 8.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Vaibhav Taneja sold 2,606 shares of the company’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 sale, the chief financial officer owned 9,856 shares in the company, valued at approximately $3,473,057.28. This trade represents a 20.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 202,606 shares of company stock valued at $75,588,902 in the last ninety days. Corporate insiders own 19.90% of the company’s stock.

Tesla Company 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.