FSA Wealth Management LLC Sells 800 Shares of Tesla, Inc. $TSLA

FSA Wealth Management LLC lowered its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 7.7% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 9,523 shares of the electric vehicle producer’s stock after selling 800 shares during the period. Tesla comprises about 1.0% of FSA Wealth Management LLC’s portfolio, making the stock its 12th biggest position. FSA Wealth Management LLC’s holdings in Tesla were worth $3,025,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Pinnacle Financial Group LLC IL bought a new stake in Tesla during the 2nd quarter worth approximately $219,000. Symphony Financial Ltd. Co. grew its position in shares of Tesla by 4,562.3% in the 2nd quarter. Symphony Financial Ltd. Co. now owns 318,294 shares of the electric vehicle producer’s stock valued at $101,071,000 after buying an additional 311,467 shares during the last quarter. Generali Investments Management Co LLC increased its stake in shares of Tesla by 55.6% in the second quarter. Generali Investments Management Co LLC now owns 15,110 shares of the electric vehicle producer’s stock valued at $4,793,000 after buying an additional 5,401 shares during the period. Westpac Banking Corp raised its position in shares of Tesla by 29.2% during the second quarter. Westpac Banking Corp now owns 45,152 shares of the electric vehicle producer’s stock worth $14,343,000 after acquiring an additional 10,216 shares during the last quarter. Finally, Paul R. Ried Financial Group LLC acquired a new position in shares of Tesla in the second quarter worth approximately $205,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Analyst Upgrades and Downgrades

TSLA has been the topic of a number of recent analyst reports. Morgan Stanley restated an “overweight” rating on shares of Tesla in a research report on Wednesday, October 15th. HSBC increased their price target on Tesla from $120.00 to $127.00 in a report on Monday, September 29th. Guggenheim reiterated a “sell” rating and issued a $175.00 price objective on shares of Tesla in a research note on Wednesday, July 23rd. Melius Research set a $520.00 target price on shares of Tesla and gave the stock a “buy” rating in a research note on Monday, October 13th. Finally, UBS Group reaffirmed a “sell” rating on shares of Tesla in a research note on Friday, November 7th. One analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, twelve have assigned a Hold rating and ten have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $393.61.

Insider Activity

In other news, CFO Vaibhav Taneja sold 2,606 shares of the stock in a transaction on 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 owned 9,856 shares in the company, valued at approximately $3,473,057.28. This represents a 20.91% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James R. Murdoch sold 60,000 shares of the business’s stock in a transaction dated 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 sale, the director owned 637,031 shares in the company, valued at $269,260,263.08. This represents a 8.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 202,606 shares of company stock valued at $75,588,902 in the last ninety days. 19.90% of the stock is currently owned by insiders.

Tesla Trading Up 0.6%

TSLA opened at $404.35 on Monday. Tesla, Inc. has a fifty-two week low of $214.25 and a fifty-two week high of $488.54. The firm has a market capitalization of $1.34 trillion, a PE ratio of 269.57, a P/E/G ratio of 16.84 and a beta of 2.06. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.07 and a quick ratio of 1.67. The company’s 50-day moving average is $429.67 and its 200 day moving average is $361.33.

Tesla (NASDAQ:TSLA) last posted its earnings results 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 company had revenue of $28.10 billion for 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% on a year-over-year basis. During the same quarter last year, the company earned $0.72 earnings per share. As a group, research analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

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.