Droms Strauss Advisors Inc. MO ADV Sells 3,011 Shares of Tesla, Inc. $TSLA

Droms Strauss Advisors Inc. MO ADV lessened its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 19.8% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,196 shares of the electric vehicle producer's stock after selling 3,011 shares during the period. Tesla accounts for 1.2% of Droms Strauss Advisors Inc. MO ADV's holdings, making the stock its 20th biggest holding. Droms Strauss Advisors Inc. MO ADV's holdings in Tesla were worth $3,874,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. Cherry Tree Wealth Management LLC increased its holdings in Tesla by 86.3% in the first quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock worth $25,000 after purchasing an additional 44 shares in the last quarter. First PREMIER Bank increased its stake 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 valued at $25,000 after acquiring an additional 42 shares in the last quarter. Newton One Investments LLC boosted its stake in Tesla by 250.0% during the first quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock worth $27,000 after acquiring an additional 75 shares in the last quarter. Arcadia Investment Management Corp MI acquired a new stake in Tesla in the first quarter worth $27,000. Finally, Chelsea Counsel Co. increased its stake in Tesla by 59.7% in the first 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 in the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, SVP Xiaotong Zhu sold 20,000 shares of the company's stock in a transaction that occurred 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 transaction, the senior vice president directly owned 47,600 shares in the company, valued at approximately $17,314,500. This represents a 29.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Vaibhav Taneja sold 4,000 shares of the business'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 directly owned 5,924 shares of the company's stock, valued at approximately $1,735,080.36. This represents a 40.31% decrease in their position. The disclosure for this sale can be found here. Insiders sold 208,606 shares of company stock worth $77,360,462 in the last three months. Corporate insiders own 19.90% of the company's stock.

Tesla Trading Down 1.9%

Shares of TSLA stock opened at $425.85 on Wednesday. Tesla, Inc. has a 1 year low of $212.11 and a 1 year high of $488.54. The company's fifty day simple moving average is $345.33 and its two-hundred day simple moving average is $310.67. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55. The stock has a market capitalization of $1.42 trillion, a price-to-earnings ratio of 246.16, a PEG ratio of 15.15 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). 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 analysts' expectations of $23.18 billion. During the same period last year, the company posted $0.52 EPS. The business's revenue for the quarter was down 11.8% on a year-over-year basis. As a group, analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on TSLA. Stifel Nicolaus set a $440.00 target price on Tesla in a research note on Friday, September 5th. Daiwa Capital Markets restated a "neutral" rating on shares of Tesla in a report on Sunday, July 27th. Benchmark reiterated a "buy" rating and issued a $475.00 target price (up from $350.00) on shares of Tesla in a report on Thursday, June 26th. William Blair restated a "market perform" rating on shares of Tesla in a research note on Friday, September 5th. Finally, Bank of America raised their price objective on shares of Tesla from $305.00 to $341.00 and gave the company a "neutral" rating in a research note on Monday, July 21st. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, twelve have given a Hold rating and nine have issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $326.74.

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.

Want to see what other hedge funds are holding TSLA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tesla, Inc. (NASDAQ:TSLA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.