Ashton Thomas Securities LLC Sells 1,508 Shares of Tesla, Inc. $TSLA

Key Points

• Ashton Thomas Securities LLC reduced its stake in Tesla, Inc. by 11.0%, selling 1,508 shares, and now holds 12,141 shares valued at approximately $3,150,000.
• Other institutional investors have also adjusted their positions, with Means Investment CO. Inc. increasing its stake by 37.7% during the same period.
• Analysts have mixed ratings on Tesla, with a consensus price target of $303.31 and one analyst rating it as a Strong Buy, while others have issued Hold and Sell ratings.

Ashton Thomas Securities LLC decreased its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 11.0% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 12,141 shares of the electric vehicle producer's stock after selling 1,508 shares during the quarter. Tesla makes up 0.9% of Ashton Thomas Securities LLC's portfolio, making the stock its 26th biggest holding. Ashton Thomas Securities LLC's holdings in Tesla were worth $3,150,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Means Investment CO. Inc. raised its stake 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 worth $5,984,000 after buying an additional 6,323 shares during the period. Focus Financial Network Inc. raised its stake in shares of Tesla by 3.1% in the first quarter. Focus Financial Network Inc. now owns 22,467 shares of the electric vehicle producer's stock worth $5,823,000 after buying an additional 670 shares during the period. 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 worth $3,304,000 after buying an additional 826 shares during the period. Keystone Global Partners LLC bought a new position in shares of Tesla in the first quarter worth about $594,000. Finally, IFM Investors Pty Ltd raised its stake in shares of Tesla by 8.5% in the first quarter. IFM Investors Pty Ltd now owns 586,460 shares of the electric vehicle producer's stock worth $153,436,000 after buying an additional 46,087 shares during the period. Institutional investors own 66.20% of the company's stock.

Analysts Set New Price Targets

TSLA has been the topic of several recent research reports. Canaccord Genuity Group raised their price objective on Tesla from $303.00 to $333.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Baird R W cut Tesla from a "strong-buy" rating to a "hold" rating in a research report on Monday, June 9th. HSBC reiterated a "reduce" rating and set a $120.00 target price on shares of Tesla in a research report on Thursday, July 3rd. UBS Group set a $290.00 target price on Tesla in a research report on Monday, June 30th. Finally, Daiwa Capital Markets reiterated a "neutral" rating on shares of Tesla in a research report on Sunday, July 27th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, fifteen have issued a Hold rating and nine have issued a Sell rating to the stock. Based on data from MarketBeat, Tesla presently has a consensus rating of "Hold" and a consensus price target of $303.31.

Tesla Stock Performance

NASDAQ TSLA opened at $333.87 on Monday. The stock has a market capitalization of $1.08 trillion, a PE ratio of 192.99, a P/E/G ratio of 11.61 and a beta of 2.06. The business has a 50 day simple moving average of $323.59 and a two-hundred day simple moving average of $302.54. 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 1-year low of $205.97 and a 1-year high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.03). The firm had revenue of $22.50 billion for 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 quarterly revenue was down 11.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.52 EPS. On average, research analysts predict that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Buying and Selling at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of the firm's stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $292.89, for a total transaction of $1,171,560.00. Following the completion of the transaction, the chief financial officer owned 5,924 shares in the company, valued at $1,735,080.36. This trade represents a 40.31% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Xiaotong Zhu sold 15,000 shares of Tesla stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $323.81, for a total value of $4,857,150.00. Following the completion of the transaction, the senior vice president owned 67,600 shares of the company's stock, valued at approximately $21,889,556. This trade represents a 18.16% decrease in their position. The disclosure for this sale can be found here. Insiders sold 144,564 shares of company stock worth $49,746,070 in the last quarter. 20.70% of the stock is owned by corporate insiders.

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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