Tesla, Inc. $TSLA Shares Sold by ARS Wealth Advisors Group LLC

Key Points

• ARS Wealth Advisors Group LLC reduced its stock holdings in Tesla by 20.1%, now owning 2,963 shares worth approximately $941,000 after selling 746 shares in the second quarter.
• Tesla reported earnings of $0.40 per share for the quarter, falling short of the consensus estimate of $0.43 and showing a year-over-year revenue decrease of 11.8%.
• Insiders sold a total of 208,606 shares of Tesla stock worth about $77.36 million over the last quarter, indicating significant selling activity among top executives.

ARS Wealth Advisors Group LLC lessened its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 20.1% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,963 shares of the electric vehicle producer's stock after selling 746 shares during the quarter. ARS Wealth Advisors Group LLC's holdings in Tesla were worth $941,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Means Investment CO. Inc. grew its position in shares of Tesla by 37.7% in the first quarter. Means Investment CO. Inc. now owns 23,089 shares of the electric vehicle producer's stock valued at $5,984,000 after purchasing an additional 6,323 shares in the last quarter. Focus Financial Network Inc. lifted its stake in Tesla by 3.1% during the first quarter. Focus Financial Network Inc. now owns 22,467 shares of the electric vehicle producer's stock worth $5,823,000 after purchasing an additional 670 shares in the last quarter. Siren L.L.C. acquired a new stake in shares of Tesla in the first quarter valued at $2,332,000. Zuckerman Investment Group LLC raised its stake in shares of Tesla by 6.9% in the first quarter. Zuckerman Investment Group LLC now owns 12,748 shares of the electric vehicle producer's stock valued at $3,304,000 after acquiring an additional 826 shares in the last quarter. Finally, Keystone Global Partners LLC acquired a new stake in shares of Tesla in the first quarter valued at $594,000. Institutional investors and hedge funds own 66.20% of the company's stock.

Insiders Place Their Bets

In other Tesla news, SVP Xiaotong Zhu sold 20,000 shares of the firm's stock in a transaction that occurred on 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 completion of 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 transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Vaibhav Taneja sold 2,606 shares of the company's stock in a transaction on Monday, September 8th. The stock was sold at an average price of $352.38, for a total value of $918,302.28. Following the completion of the sale, the chief financial officer owned 9,856 shares of the company's stock, valued at $3,473,057.28. This represents a 20.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 208,606 shares of company stock valued at $77,360,462 over the last quarter. 20.70% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. HSBC reaffirmed a "reduce" rating and set a $120.00 price target on shares of Tesla in a research report on Thursday, July 3rd. Mizuho reduced their target price on Tesla from $390.00 to $375.00 and set an "outperform" rating on the stock in a research note on Tuesday, July 8th. Wedbush reiterated an "outperform" rating and issued a $500.00 price target on shares of Tesla in a report on Monday, September 15th. Argus reissued a "hold" rating on shares of Tesla in a research note on Monday, June 9th. Finally, Robert W. Baird raised shares of Tesla from a "neutral" rating to an "outperform" rating and upped their price objective for the company from $320.00 to $548.00 in a research report on Friday. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, twelve have assigned a Hold rating and nine have given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $317.70.

Tesla Stock Performance

Shares of TSLA stock traded up $9.22 on Friday, hitting $426.07. The company's stock had a trading volume of 92,721,496 shares, compared to its average volume of 86,324,392. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04. The stock's 50 day moving average is $340.68 and its 200-day moving average is $308.35. Tesla, Inc. has a fifty-two week low of $212.11 and a fifty-two week high of $488.54. The company has a market capitalization of $1.42 trillion, a PE ratio of 246.28, a PEG ratio of 14.86 and a beta of 2.06.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $22.50 billion during the quarter, compared to the consensus estimate of $23.18 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. The firm's quarterly revenue was down 11.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.52 EPS. Equities research analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current fiscal 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.