AssuredPartners Investment Advisors LLC Sells 4,768 Shares of Tesla, Inc. $TSLA

Key Points

• AssuredPartners Investment Advisors LLC reduced its holding in Tesla, Inc. by 21.0%, now owning 17,920 shares valued at approximately $5.69 million.
• Insider sales included SVP Xiaotong Zhu, who sold 20,000 shares worth $7.27 million, reducing his ownership by 29.59%.
• Tesla's latest earnings report revealed a miss on EPS estimates and a year-over-year revenue decline of 11.8%, raising caution among investors.

AssuredPartners Investment Advisors LLC trimmed its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 21.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,920 shares of the electric vehicle producer's stock after selling 4,768 shares during the quarter. Tesla makes up 1.4% of AssuredPartners Investment Advisors LLC's investment portfolio, making the stock its 19th largest position. AssuredPartners Investment Advisors LLC's holdings in Tesla were worth $5,692,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Cherry Tree Wealth Management LLC grew its position in Tesla by 86.3% during the 1st 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 during the last quarter. First PREMIER Bank grew its position in shares of Tesla by 79.2% in the 1st quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock worth $25,000 after buying an additional 42 shares during the last quarter. Arcadia Investment Management Corp MI bought a new stake in shares of Tesla in the 1st quarter worth approximately $27,000. Chelsea Counsel Co. grew its position in shares of Tesla by 59.7% in 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 during the last quarter. Finally, Centennial Bank AR grew its position in shares of Tesla by 833.3% in the 1st quarter. Centennial Bank AR now owns 112 shares of the electric vehicle producer's stock worth $29,000 after buying an additional 100 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Tesla news, SVP Xiaotong Zhu sold 20,000 shares of the business's stock in a transaction on 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 sale, the senior vice president directly owned 47,600 shares of the company's stock, valued at approximately $17,314,500. The trade was a 29.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Vaibhav Taneja sold 2,606 shares of the business'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 directly owned 9,856 shares in the company, valued at $3,473,057.28. This trade represents a 20.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 202,606 shares of company stock valued at $75,588,902. 19.90% of the stock is currently owned by corporate insiders.

Tesla Trading Up 2.5%

Tesla stock opened at $439.31 on Friday. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07. The business's fifty day simple moving average is $387.54 and its two-hundred day simple moving average is $333.25. Tesla, Inc. has a 12 month low of $212.11 and a 12 month high of $488.54. The company has a market capitalization of $1.46 trillion, a price-to-earnings ratio of 253.94, a price-to-earnings-growth ratio of 15.41 and a beta of 2.08.

Tesla (NASDAQ:TSLA - Get Free Report) last released 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). Tesla had a return on equity of 7.98% and a net margin of 6.54%.The company had revenue of $22.50 billion during the quarter, compared to the consensus estimate of $23.18 billion. During the same period last year, the firm posted $0.52 earnings per share. The company's revenue was down 11.8% compared to the same quarter last year. As a group, equities analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Needham & Company LLC reiterated a "hold" rating on shares of Tesla in a research report on Thursday, July 24th. Robert W. Baird upgraded Tesla from a "neutral" rating to an "outperform" rating and lifted their price objective for the stock from $320.00 to $548.00 in a research report on Friday, September 19th. Dbs Bank lifted their price objective on Tesla from $300.00 to $450.00 in a research report on Wednesday, September 17th. Industrial Alliance Securities set a $300.00 price objective on Tesla in a research report on Monday. Finally, JPMorgan Chase & Co. raised their target price on Tesla from $115.00 to $150.00 in a research note on Friday, October 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, twelve have given a Hold rating and ten have given a Sell rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $363.54.

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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