Atria Wealth Solutions Inc. Sells 87,977 Shares of Tesla, Inc. $TSLA

Atria Wealth Solutions Inc. lowered its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 55.8% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 69,656 shares of the electric vehicle producer's stock after selling 87,977 shares during the period. Atria Wealth Solutions Inc.'s holdings in Tesla were worth $22,067,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Means Investment CO. Inc. boosted its holdings in Tesla by 37.7% in the 1st 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 during the period. Siren L.L.C. bought a new stake in Tesla in the 1st quarter valued at about $2,332,000. Zuckerman Investment Group LLC boosted its holdings in Tesla by 6.9% in the 1st quarter. Zuckerman Investment Group LLC now owns 12,748 shares of the electric vehicle producer's stock valued at $3,304,000 after purchasing an additional 826 shares during the period. Keystone Global Partners LLC bought a new stake in Tesla in the 1st quarter valued at about $594,000. Finally, Strs Ohio acquired a new position in shares of Tesla in the 1st quarter valued at approximately $205,495,000. Institutional investors own 66.20% of the company's stock.

Insiders Place Their Bets

In other Tesla news, Director James R. Murdoch sold 60,000 shares of the business's stock in a transaction that occurred on Monday, September 15th. The shares were 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 $269,260,263.08. The trade was a 8.61% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Xiaotong Zhu sold 20,000 shares of the business'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 sale, the senior vice president directly 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. Insiders have sold 202,606 shares of company stock valued at $75,588,902 in the last ninety days. 19.90% of the stock is currently owned by insiders.

Tesla Price Performance

TSLA stock opened at $429.24 on Wednesday. The company has a 50 day simple moving average of $380.91 and a 200 day simple moving average of $330.17. The stock has a market cap of $1.43 trillion, a price-to-earnings ratio of 248.12, a P/E/G ratio of 15.71 and a beta of 2.08. Tesla, Inc. has a 1 year low of $212.11 and a 1 year high of $488.54. 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 (NASDAQ:TSLA - Get Free Report) last released 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). Tesla had a return on equity of 7.98% and a net margin of 6.54%.The company had revenue of $22.50 billion for the quarter, compared to analyst estimates of $23.18 billion. During the same quarter in the prior year, the company earned $0.52 earnings per share. Tesla's revenue for the quarter was down 11.8% compared to the same quarter last year. Research analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on TSLA shares. TD Cowen boosted their target price on shares of Tesla from $374.00 to $509.00 and gave the company a "buy" rating in a research report on Thursday, October 9th. Baird R W upgraded shares of Tesla from a "hold" rating to a "strong-buy" rating in a research report on Friday, September 19th. Glj Research restated a "sell" rating on shares of Tesla in a research report on Thursday, July 24th. Robert W. Baird upgraded shares of Tesla from a "neutral" rating to an "outperform" rating and boosted their target price for the company from $320.00 to $548.00 in a research report on Friday, September 19th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Tesla from $345.00 to $435.00 and gave the company a "buy" rating in a research report on Friday, September 26th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, thirteen have assigned a Hold rating and eight have issued a Sell rating to the stock. Based on data from MarketBeat, Tesla has a consensus rating of "Hold" and an average target price of $363.03.

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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