AdviceOne Advisory Services LLC Cuts Stock Position in Tesla, Inc. $TSLA

Key Points

• AdviceOne Advisory Services LLC reduced its stake in Tesla by 21.8%, selling 5,210 shares, and now owns 18,679 shares, making Tesla the company's 4th largest position.
• Insider traders including Director James R. Murdoch sold a total of 148,606 shares worth approximately $51.99 million over the past 90 days, indicating a decline in their ownership positions.
• Tesla reported $0.40 EPS for the last quarter, missing estimates, alongside a revenue of $22.50 billion, down 11.8% year-over-year.

AdviceOne Advisory Services LLC cut its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 21.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 18,679 shares of the electric vehicle producer's stock after selling 5,210 shares during the quarter. Tesla makes up about 4.0% of AdviceOne Advisory Services LLC's portfolio, making the stock its 4th largest position. AdviceOne Advisory Services LLC's holdings in Tesla were worth $4,841,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Cherry Tree Wealth Management LLC boosted its stake in Tesla by 86.3% during the first quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock worth $25,000 after acquiring an additional 44 shares in the last quarter. First PREMIER Bank boosted its stake in Tesla by 79.2% during the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock worth $25,000 after acquiring an additional 42 shares in the last quarter. Pacific Center for Financial Services boosted its stake in Tesla by 1,616.7% during the fourth quarter. Pacific Center for Financial Services now owns 103 shares of the electric vehicle producer's stock worth $42,000 after acquiring an additional 97 shares in the last quarter. Arcadia Investment Management Corp MI bought a new position in Tesla during the first quarter worth $27,000. Finally, Newton One Investments LLC boosted its stake in Tesla by 250.0% during the first quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock worth $27,000 after acquiring an additional 75 shares in the last quarter. 66.20% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director James R. Murdoch sold 120,000 shares of the firm's stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $350.29, for a total transaction of $42,034,800.00. Following the completion of the sale, the director owned 697,031 shares in the company, valued at approximately $244,162,988.99. This trade represents a 14.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, 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 transaction of $7,275,000.00. Following the sale, the senior vice president owned 47,600 shares of the company's stock, valued at $17,314,500. This trade represents a 29.59% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 148,606 shares of company stock worth $51,999,662. Insiders own 20.70% of the company's stock.

Tesla Stock Performance

Shares of TSLA stock opened at $395.94 on Friday. The firm has a 50-day moving average of $328.89 and a 200-day moving average of $303.48. The company has a market cap of $1.28 trillion, a P/E ratio of 228.87, a P/E/G ratio of 12.87 and a beta of 2.06. 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, Inc. has a one year low of $212.11 and a one year high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.03). The firm had revenue of $22.50 billion during the quarter, compared to analysts' expectations of $23.18 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. The business's revenue for the quarter was down 11.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.52 EPS. Equities research analysts forecast that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Wall Street Analyst Weigh In

TSLA has been the topic of a number of recent research reports. Stifel Nicolaus set a $440.00 price objective on shares of Tesla in a research note on Friday, September 5th. Wedbush reaffirmed an "outperform" rating and issued a $500.00 price objective on shares of Tesla in a research note on Monday, August 4th. William Blair reaffirmed a "market perform" rating on shares of Tesla in a research note on Friday, September 5th. Needham & Company LLC reaffirmed a "hold" rating on shares of Tesla in a research note on Thursday, July 24th. Finally, The Goldman Sachs Group reaffirmed a "neutral" rating on shares of Tesla in a research note on Sunday, August 17th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, fourteen have given a Hold rating and nine have assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $303.00.

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.

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