NBC Securities Inc. Sells 1,182 Shares of Tesla, Inc. $TSLA

Key Points

• NBC Securities Inc. reduced its stake in Tesla by 25.7%, selling 1,182 shares and leaving it with 3,413 shares valued at approximately $1,084,000.
• Tesla's quarterly earnings report indicated an Earnings Per Share (EPS) of $0.40, falling short of analyst expectations of $0.43, and revenues decreased 11.8% year-over-year.
• Insider trading activity included the sale of 120,000 shares by Director James R. Murdoch, reducing his ownership by 14.69%, alongside a sale of 2,606 shares by CFO Vaibhav Taneja.

NBC Securities Inc. reduced its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 25.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,413 shares of the electric vehicle producer's stock after selling 1,182 shares during the quarter. NBC Securities Inc.'s holdings in Tesla were worth $1,084,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Cherry Tree Wealth Management LLC increased its stake in Tesla by 86.3% during the first quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock worth $25,000 after acquiring an additional 44 shares during the last quarter. First PREMIER Bank increased its stake in Tesla by 79.2% during the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock worth $25,000 after acquiring an additional 42 shares during the last quarter. Pacific Center for Financial Services increased its stake in Tesla by 1,616.7% during the fourth quarter. Pacific Center for Financial Services now owns 103 shares of the electric vehicle producer's stock worth $42,000 after acquiring an additional 97 shares during the last quarter. Arcadia Investment Management Corp MI bought a new stake in Tesla during the first quarter worth approximately $27,000. Finally, Newton One Investments LLC boosted its position in shares of Tesla by 250.0% during the first quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock valued at $27,000 after buying an additional 75 shares during the period. 66.20% of the stock is owned by institutional investors.

Tesla Stock Up 2.8%

Shares of NASDAQ TSLA opened at $421.62 on Wednesday. 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 firm has a market capitalization of $1.36 trillion, a price-to-earnings ratio of 243.71, a PEG ratio of 14.30 and a beta of 2.06. The stock has a 50 day moving average price of $333.69 and a 200 day moving average price of $305.35. Tesla, Inc. has a 52-week low of $212.11 and a 52-week high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its quarterly earnings results 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). The firm had revenue of $22.50 billion during the quarter, compared to analysts' expectations of $23.18 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. The firm's revenue for the quarter was down 11.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.52 EPS. Sell-side analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on TSLA. William Blair restated a "market perform" rating on shares of Tesla in a research report on Friday, September 5th. Guggenheim restated a "sell" rating and set a $175.00 target price on shares of Tesla in a research report on Wednesday, July 23rd. The Goldman Sachs Group restated a "neutral" rating on shares of Tesla in a research report on Sunday, August 17th. Robert W. Baird restated a "neutral" rating and set a $320.00 target price on shares of Tesla in a research report on Monday, June 9th. Finally, Needham & Company LLC restated a "hold" rating on shares of Tesla in a research report on Thursday, July 24th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, fourteen have assigned a Hold rating and nine have given a Sell rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $303.00.

Insiders Place Their Bets

In other Tesla news, Director James R. Murdoch sold 120,000 shares of the company's stock in a transaction 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 completion of the sale, the director owned 697,031 shares in the company, valued at $244,162,988.99. This represents a 14.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Vaibhav Taneja sold 2,606 shares of the company'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 sale, the chief financial officer owned 9,856 shares of the company's stock, valued at approximately $3,473,057.28. This represents a 20.91% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 148,606 shares of company stock worth $51,999,662 over the last 90 days. Company insiders own 20.70% of the company's stock.

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.

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.