Financial Insights Inc. Sells 777 Shares of Tesla, Inc. $TSLA

Key Points

• Financial Insights Inc. reduced its Tesla holdings by 46.6%, selling 777 shares, leaving it with 889 shares valued at $282,000.
• Insider transactions included CFO Vaibhav Taneja selling 2,606 shares for approximately $918,302 and Director James R. Murdoch selling 120,000 shares for $42 million.
• Tesla's stock has a current price target consensus of $343.43, with varying ratings from analysts, indicating a mix of hold, buy, and sell opinions.

Financial Insights Inc. decreased its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 46.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 889 shares of the electric vehicle producer's stock after selling 777 shares during the period. Financial Insights Inc.'s holdings in Tesla were worth $282,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. KWB Wealth boosted its position in shares of Tesla by 2.4% during the 2nd quarter. KWB Wealth now owns 1,381 shares of the electric vehicle producer's stock valued at $439,000 after purchasing an additional 33 shares in the last quarter. Conrad Siegel Investment Advisors Inc. boosted its position in shares of Tesla by 3.6% during the 2nd quarter. Conrad Siegel Investment Advisors Inc. now owns 976 shares of the electric vehicle producer's stock valued at $310,000 after purchasing an additional 34 shares in the last quarter. Guyasuta Investment Advisors Inc. boosted its position in shares of Tesla by 0.7% during the 2nd quarter. Guyasuta Investment Advisors Inc. now owns 5,107 shares of the electric vehicle producer's stock valued at $1,622,000 after purchasing an additional 34 shares in the last quarter. Kelly Financial Services LLC boosted its position in shares of Tesla by 2.7% during the 2nd quarter. Kelly Financial Services LLC now owns 1,331 shares of the electric vehicle producer's stock valued at $423,000 after purchasing an additional 35 shares in the last quarter. Finally, Acorn Wealth Advisors LLC raised its stake in Tesla by 1.9% during the 1st quarter. Acorn Wealth Advisors LLC now owns 1,901 shares of the electric vehicle producer's stock worth $493,000 after buying an additional 36 shares during the period. Institutional investors own 66.20% of the company's stock.

Insider Buying and Selling at Tesla

In other news, CFO Vaibhav Taneja sold 2,606 shares of the firm'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 transaction, the chief financial officer directly owned 9,856 shares of the company's stock, valued at $3,473,057.28. This trade represents a 20.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James R. Murdoch sold 120,000 shares of the firm's stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $350.29, for a total value of $42,034,800.00. Following the completion of the transaction, the director directly owned 697,031 shares of the company's stock, valued at $244,162,988.99. The trade was a 14.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 204,606 shares of company stock valued at $76,188,902. Company insiders own 19.90% of the company's stock.

Tesla Price Performance

Shares of NASDAQ TSLA opened at $429.83 on Monday. The stock has a fifty day simple moving average of $364.02 and a two-hundred day simple moving average of $322.58. Tesla, Inc. has a 1-year low of $212.11 and a 1-year high of $488.54. The firm has a market cap of $1.43 trillion, a price-to-earnings ratio of 248.46, a price-to-earnings-growth ratio of 14.93 and a beta of 2.08. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07.

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

Wall Street Analysts Forecast Growth

TSLA has been the topic of a number of research reports. Mizuho upped their price target on Tesla from $375.00 to $450.00 and gave the stock an "outperform" rating in a research note on Tuesday, September 23rd. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $355.00 price target on shares of Tesla in a research note on Friday. Bank of America upped their price target on Tesla from $305.00 to $341.00 and gave the stock a "neutral" rating in a research note on Monday, July 21st. Guggenheim reaffirmed a "sell" rating and set a $175.00 price target on shares of Tesla in a research note on Wednesday, July 23rd. Finally, UBS Group reaffirmed a "sell" rating and set a $215.00 price target on shares of Tesla in a research note on Thursday. Two research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, thirteen have given a Hold rating and eight have given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $343.43.

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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