ERn Financial LLC Sells 11,225 Shares of Tesla, Inc. $TSLA

Key Points

• ERn Financial LLC reduced its stake in Tesla, Inc. by 81.0%, selling 11,225 shares, leaving it with 2,633 shares valued at approximately $836,000.
• Several other institutional investors have either increased or established new positions in Tesla, with Brighton Jones LLC raising its stake by 11.8% and Mid American Wealth Advisory Group Inc. increasing theirs by 94.4%.
• Wall Street analysts have a mixed outlook on Tesla, with price targets ranging from $303.00 to $548.00, resulting in an average rating of "Hold" and a price target of $332.33.

ERn Financial LLC decreased its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 81.0% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,633 shares of the electric vehicle producer's stock after selling 11,225 shares during the period. ERn Financial LLC's holdings in Tesla were worth $836,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Brighton Jones LLC raised its stake in Tesla by 11.8% during the fourth quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer's stock worth $35,509,000 after acquiring an additional 9,293 shares in the last quarter. Revolve Wealth Partners LLC lifted its position in shares of Tesla by 21.2% during the fourth quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer's stock worth $2,147,000 after purchasing an additional 931 shares in the last quarter. Bison Wealth LLC boosted its position in Tesla by 52.2% in the 4th quarter. Bison Wealth LLC now owns 10,368 shares of the electric vehicle producer's stock valued at $4,187,000 after buying an additional 3,558 shares during the last quarter. Mechanics Bank Trust Department bought a new position in Tesla in the first quarter valued at about $288,000. Finally, Mid American Wealth Advisory Group Inc. grew its position in shares of Tesla by 94.4% during the 1st quarter. Mid American Wealth Advisory Group Inc. now owns 1,314 shares of the electric vehicle producer's stock worth $341,000 after buying an additional 638 shares during the period. Institutional investors own 66.20% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on TSLA shares. Mizuho lifted their price objective on Tesla from $375.00 to $450.00 and gave the stock an "outperform" rating in a research note on Tuesday, September 23rd. Canaccord Genuity Group raised their price objective on shares of Tesla from $303.00 to $333.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Argus restated a "hold" rating on shares of Tesla in a research note on Monday, June 9th. UBS Group reissued a "sell" rating on shares of Tesla in a research report on Monday, September 22nd. Finally, Robert W. Baird raised Tesla from a "neutral" rating to an "outperform" rating and increased their price objective for the company from $320.00 to $548.00 in a report on Friday, September 19th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, twelve have assigned a Hold rating and nine have assigned a Sell rating to the company. Based on data from MarketBeat, Tesla presently has an average rating of "Hold" and an average price target of $332.33.

Tesla Stock Performance

Shares of NASDAQ TSLA opened at $443.21 on Tuesday. 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's fifty day moving average price is $354.34 and its two-hundred day moving average price is $316.75. Tesla, Inc. has a one year low of $212.11 and a one year high of $488.54. The firm has a market cap of $1.47 trillion, a price-to-earnings ratio of 256.19, a P/E/G ratio of 15.36 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 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 business had revenue of $22.50 billion during the quarter, compared to analyst estimates of $23.18 billion. During the same quarter last year, the firm earned $0.52 EPS. Tesla's revenue for the quarter was down 11.8% compared to the same quarter last year. On average, equities analysts forecast that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Activity at Tesla

In related news, CFO Vaibhav Taneja sold 4,000 shares of the company's stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $292.89, for a total transaction of $1,171,560.00. Following the completion of the sale, the chief financial officer owned 5,924 shares of the company's stock, valued at $1,735,080.36. This represents a 40.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director James R. Murdoch sold 120,000 shares of the company's stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $350.29, for a total transaction of $42,034,800.00. Following the sale, the director directly owned 697,031 shares of the company's stock, valued at approximately $244,162,988.99. This trade represents a 14.69% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 208,606 shares of company stock valued at $77,360,462 over the last quarter. 19.90% of the stock is owned by corporate insiders.

Tesla Company 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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