Tesla, Inc. $TSLA Position Trimmed by Good Life Advisors LLC

Good Life Advisors LLC trimmed its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 3.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 19,856 shares of the electric vehicle producer’s stock after selling 730 shares during the period. Good Life Advisors LLC’s holdings in Tesla were worth $6,307,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Siren L.L.C. acquired a new stake in shares of Tesla during the 1st quarter worth approximately $2,332,000. Zuckerman Investment Group LLC increased its holdings in Tesla by 6.9% in the 1st quarter. Zuckerman Investment Group LLC now owns 12,748 shares of the electric vehicle producer’s stock valued at $3,304,000 after buying an additional 826 shares during the period. Keystone Global Partners LLC acquired a new position in shares of Tesla in the 1st quarter valued at $594,000. Strs Ohio acquired a new stake in shares of Tesla during the 1st quarter valued at about $205,495,000. Finally, AustralianSuper Pty Ltd increased its stake in Tesla by 1,823.0% in the second quarter. AustralianSuper Pty Ltd now owns 68,325 shares of the electric vehicle producer’s stock valued at $21,704,000 after acquiring an additional 64,772 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Stock Down 2.1%

Shares of Tesla stock opened at $421.49 on Thursday. The business has a fifty day simple moving average of $427.33 and a 200 day simple moving average of $359.18. The stock has a market cap of $1.40 trillion, a PE ratio of 281.00, a price-to-earnings-growth ratio of 16.84 and a beta of 2.06. The company has a quick ratio of 1.67, a current ratio of 2.07 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 posted its earnings results on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.02. The company had revenue of $28.10 billion during the quarter, compared to analyst estimates of $24.98 billion. Tesla had a return on equity of 6.61% and a net margin of 5.51%.The company’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.72 EPS. Research analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Activity

In related news, Director James R. Murdoch sold 120,000 shares of the company’s stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $350.29, for a total value of $42,034,800.00. Following the completion of the sale, the director owned 697,031 shares in the company, valued at $244,162,988.99. This represents a 14.69% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Xiaotong Zhu sold 20,000 shares of Tesla stock in a transaction dated 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 owned 47,600 shares in the company, valued at $17,314,500. This trade represents a 29.59% decrease in their position. 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 quarter. Company insiders own 19.90% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on the company. Industrial Alliance Securities set a $300.00 price target on Tesla in a research note on Monday, October 13th. Barclays restated a “negative” rating and set a $350.00 price target (up from $275.00) on shares of Tesla in a research report on Thursday, October 16th. Cantor Fitzgerald set a $510.00 price objective on Tesla and gave the stock an “overweight” rating in a research note on Thursday, October 23rd. Robert W. Baird upgraded Tesla from a “neutral” rating to an “outperform” rating and raised their target price for the company from $320.00 to $548.00 in a research note on Friday, September 19th. Finally, TD Cowen increased their price objective on shares of Tesla from $374.00 to $509.00 and gave the stock a “buy” rating in a report on Thursday, October 9th. 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 ten have issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $391.08.

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.