Bard Financial Services Inc. Sells 3,020 Shares of Tesla, Inc. $TSLA

Key Points

• Bard Financial Services Inc. reduced its holdings in Tesla by 24.7%, selling 3,020 shares, and now owns 9,190 shares worth approximately $2.9 million.
• Several institutional investors have increased their stakes in Tesla, including Cherry Tree Wealth Management with an 86.3% increase, reflecting a positive trend among hedge funds.
• Brokerages have varied opinions on Tesla's stock, with ratings ranging from "strong-buy" to "sell", while the stock recently opened at $395.94.

Bard Financial Services Inc. trimmed its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 24.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,190 shares of the electric vehicle producer's stock after selling 3,020 shares during the period. Bard Financial Services Inc.'s holdings in Tesla were worth $2,919,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of TSLA. Cherry Tree Wealth Management LLC increased its holdings in shares of Tesla by 86.3% in the 1st quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock worth $25,000 after buying an additional 44 shares during the last quarter. First PREMIER Bank boosted its holdings in Tesla by 79.2% during the 1st quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after acquiring an additional 42 shares during the period. Newton One Investments LLC grew its holdings in shares of Tesla by 250.0% in the first quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock worth $27,000 after purchasing an additional 75 shares during the last quarter. Arcadia Investment Management Corp MI bought a new stake in Tesla in the 1st quarter worth $27,000. Finally, Chelsea Counsel Co. raised 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 valued at $28,000 after purchasing an additional 40 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have commented on TSLA. Baird R W lowered shares of Tesla from a "strong-buy" rating to a "hold" rating in a report on Monday, June 9th. Wedbush reissued an "outperform" rating and set a $500.00 price objective on shares of Tesla in a research note on Monday, August 4th. Glj Research reaffirmed a "sell" rating on shares of Tesla in a research note on Thursday, July 24th. Mizuho dropped their price target on Tesla from $390.00 to $375.00 and set an "outperform" rating on the stock in a research report on Tuesday, July 8th. Finally, China Renaissance reissued a "hold" rating and issued a $349.00 target price on shares of Tesla in a report on Friday, July 25th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, fourteen have given a Hold rating and nine have given a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $303.00.

Tesla Stock Up 7.4%

TSLA stock opened at $395.94 on Monday. The business's 50-day moving average is $328.89 and its two-hundred day moving average is $303.72. 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 company has a market cap of $1.28 trillion, a price-to-earnings ratio of 228.87, a P/E/G ratio of 13.81 and a beta of 2.06. Tesla, Inc. has a fifty-two week low of $212.11 and a fifty-two week high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its quarterly earnings data 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 business earned $0.52 EPS. The firm's quarterly revenue was down 11.8% compared to the same quarter last year. As a group, analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Buying and Selling

In other news, SVP Xiaotong Zhu sold 20,000 shares of the stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $363.75, for a total value of $7,275,000.00. Following the sale, the senior vice president owned 47,600 shares of the company's stock, valued at approximately $17,314,500. This represents a 29.59% decrease in their ownership of the stock. The sale 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 company's stock in a transaction on Monday, September 8th. The shares were sold at an average price of $352.38, for a total value of $918,302.28. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 148,606 shares of company stock worth $51,999,662. Corporate insiders own 20.70% of the company's stock.

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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