Mayfair Advisory Group LLC Sells 576 Shares of Tesla, Inc. $TSLA

Mayfair Advisory Group LLC decreased its stake in Tesla, Inc. (NASDAQ:TSLA) by 19.8% during the second quarter, Holdings Channel.com reports. The institutional investor owned 2,330 shares of the electric vehicle producer’s stock after selling 576 shares during the quarter. Mayfair Advisory Group LLC’s holdings in Tesla were worth $768,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. LGT Financial Advisors LLC bought a new stake in Tesla during the second quarter worth about $29,000. Chelsea Counsel Co. grew its position in Tesla by 59.7% during the first quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock valued at $28,000 after acquiring an additional 40 shares during the last quarter. Evergreen Private Wealth LLC lifted its holdings in shares of Tesla by 270.0% in the 2nd quarter. Evergreen Private Wealth LLC now owns 111 shares of the electric vehicle producer’s stock worth $35,000 after acquiring an additional 81 shares during the last quarter. Glynn Capital Management LLC bought a new position in shares of Tesla during the 2nd quarter valued at $35,000. Finally, LSV Asset Management raised its position in Tesla by 400.0% in the 2nd quarter. LSV Asset Management now owns 120 shares of the electric vehicle producer’s stock worth $38,000 after purchasing an additional 96 shares during the period. 66.20% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Tesla news, SVP Xiaotong Zhu sold 20,000 shares of the firm’s stock in a transaction dated 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 transaction, the senior vice president directly owned 47,600 shares of the company’s stock, valued at approximately $17,314,500. This trade represents a 29.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director James R. Murdoch sold 60,000 shares of the business’s stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $422.68, for a total transaction of $25,360,800.00. Following the sale, the director owned 637,031 shares of the company’s stock, valued at $269,260,263.08. This trade represents a 8.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 82,606 shares of company stock valued at $33,554,102. Company insiders own 19.90% of the company’s stock.

Tesla Stock Performance

Shares of TSLA stock opened at $426.58 on Thursday. The company has a market capitalization of $1.42 trillion, a price-to-earnings ratio of 284.39, a price-to-earnings-growth ratio of 16.84 and a beta of 2.06. Tesla, Inc. has a one year low of $214.25 and a one year high of $488.54. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.67 and a current ratio of 2.07. The company’s 50-day moving average is $433.68 and its 200 day moving average is $367.76.

Tesla (NASDAQ:TSLA) last posted its earnings results on Thursday, October 23rd. The electric vehicle producer reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.02. The business 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 quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.72 EPS. Sell-side analysts expect that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Cantor Fitzgerald set a $510.00 price objective on Tesla and gave the stock an “overweight” rating in a report on Thursday, October 23rd. Canaccord Genuity Group dropped their price objective on Tesla from $490.00 to $482.00 and set a “buy” rating for the company in a research note on Thursday, October 23rd. Mizuho set a $475.00 target price on shares of Tesla and gave the stock an “outperform” rating in a research note on Tuesday. William Blair reiterated a “market perform” rating on shares of Tesla in a research report on Friday, September 5th. Finally, New Street Research lifted their price target on shares of Tesla from $465.00 to $520.00 and gave the company 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, twelve have issued a Hold rating and ten have assigned a Sell rating to the company. According to MarketBeat, Tesla presently has an average rating of “Hold” and an average target price of $394.03.

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.