Ameritas Advisory Services LLC Sells 7,561 Shares of Tesla, Inc. $TSLA

Ameritas Advisory Services LLC reduced its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 29.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,482 shares of the electric vehicle producer's stock after selling 7,561 shares during the quarter. Ameritas Advisory Services LLC's holdings in Tesla were worth $5,871,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of TSLA. Cherry Tree Wealth Management LLC lifted its stake in Tesla by 86.3% in the 1st quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after acquiring an additional 44 shares in the last quarter. First PREMIER Bank lifted its position in shares of Tesla by 79.2% in the first 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. Newton One Investments LLC lifted its position in Tesla by 250.0% during the 1st quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock worth $27,000 after buying an additional 75 shares in the last quarter. Arcadia Investment Management Corp MI bought a new stake in Tesla during the 1st quarter worth about $27,000. Finally, Chelsea Counsel Co. lifted its position in Tesla by 59.7% during the 1st quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer's stock worth $28,000 after buying an additional 40 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on TSLA shares. Benchmark reiterated a "buy" rating and set a $475.00 target price (up previously from $350.00) on shares of Tesla in a report on Thursday, June 26th. Morgan Stanley reiterated an "overweight" rating and set a $410.00 price objective on shares of Tesla in a research note on Thursday. Wedbush upped their price objective on Tesla from $500.00 to $600.00 and gave the stock an "outperform" rating in a research note on Friday, September 26th. Dbs Bank upped their price objective on Tesla from $300.00 to $450.00 in a research note on Wednesday, September 17th. Finally, Baird R W raised shares of Tesla from a "hold" rating to a "strong-buy" rating in a research report on Friday, September 19th. Two analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, thirteen have assigned a Hold rating and eight have issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $343.43.

Insider Transactions at Tesla

In other news, Director James R. Murdoch sold 60,000 shares of the stock in a transaction on Monday, September 15th. The stock was sold at an average price of $422.68, for a total transaction of $25,360,800.00. Following the sale, the director directly owned 637,031 shares of the company's stock, valued at approximately $269,260,263.08. This represents a 8.61% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Xiaotong Zhu sold 20,000 shares of the 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 in the company, valued at $17,314,500. The trade was a 29.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 208,606 shares of company stock valued at $77,360,462. 19.90% of the stock is owned by corporate insiders.

Tesla Stock Performance

Shares of NASDAQ:TSLA opened at $429.83 on Friday. The company's 50 day moving average price is $364.02 and its two-hundred day moving average price is $321.99. Tesla, Inc. has a 12-month low of $212.11 and a 12-month high of $488.54. The firm has a market cap of $1.43 trillion, a PE ratio of 248.46, a PEG ratio of 14.93 and a beta of 2.08. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07.

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

Tesla 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.

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