Tesla, Inc. $TSLA Shares Sold by SeaCrest Wealth Management LLC

Key Points

• SeaCrest Wealth Management LLC has decreased its stake in Tesla, Inc. by 6.9%, holding 17,609 shares valued at approximately $5.6 million.
• Several institutional investors, including Cherry Tree Wealth Management and First PREMIER Bank, have recently increased their holdings in Tesla, with increases of 86.3% and 79.2% respectively.
• Tesla reported earnings of $0.40 per share, missing analysts' expectations, and its revenue of $22.5 billion represents an 11.8% decline year-over-year.

SeaCrest Wealth Management LLC reduced its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 6.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 17,609 shares of the electric vehicle producer's stock after selling 1,302 shares during the quarter. Tesla accounts for 0.6% of SeaCrest Wealth Management LLC's investment portfolio, making the stock its 23rd biggest holding. SeaCrest Wealth Management LLC's holdings in Tesla were worth $5,594,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in TSLA. Brighton Jones LLC boosted its holdings in Tesla by 11.8% in the 4th 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 during the period. Revolve Wealth Partners LLC increased its position in shares of Tesla by 21.2% during the 4th quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer's stock valued at $2,147,000 after purchasing an additional 931 shares during the period. Mascagni Wealth Management Inc. acquired a new position in shares of Tesla during the 4th quarter valued at $346,000. Bison Wealth LLC grew its holdings in shares of Tesla by 52.2% in the 4th quarter. Bison Wealth LLC now owns 10,368 shares of the electric vehicle producer's stock worth $4,187,000 after acquiring an additional 3,558 shares during the last quarter. Finally, Pinnacle Wealth Management LLC grew its holdings in shares of Tesla by 1.0% in the 4th quarter. Pinnacle Wealth Management LLC now owns 9,263 shares of the electric vehicle producer's stock worth $3,741,000 after acquiring an additional 95 shares during the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions 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 shares were sold at an average price of $352.38, for a total transaction of $918,302.28. Following the sale, the chief financial officer owned 9,856 shares in the company, valued at approximately $3,473,057.28. This trade represents a 20.91% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, 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 transaction 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 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 three months. Corporate insiders own 20.70% of the company's stock.

Tesla Price Performance

Tesla stock traded up $9.22 during midday trading on Friday, reaching $426.07. The company's stock had a trading volume of 92,721,496 shares, compared to its average volume of 86,324,392. The business has a 50-day moving average price of $340.68 and a 200-day moving average price of $308.35. The stock has a market cap of $1.42 trillion, a PE ratio of 246.28, a price-to-earnings-growth ratio of 14.86 and a beta of 2.06. Tesla, Inc. has a 52 week low of $212.11 and a 52 week high of $488.54. 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 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). The business had revenue of $22.50 billion during the quarter, compared to the consensus estimate of $23.18 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. The firm's quarterly revenue was down 11.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.52 EPS. On average, sell-side analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on TSLA shares. Benchmark reiterated a "buy" rating and set a $475.00 price target (up previously from $350.00) on shares of Tesla in a report on Thursday, June 26th. Wedbush restated an "outperform" rating and set a $500.00 price target on shares of Tesla in a research note on Monday, September 15th. Baird R W raised Tesla from a "hold" rating to a "strong-buy" rating in a report on Friday. Dbs Bank upped their target price on shares of Tesla from $300.00 to $450.00 in a research report on Wednesday. Finally, The Goldman Sachs Group increased their price objective on Tesla from $300.00 to $395.00 and gave the stock a "neutral" rating in a report on Thursday. Two research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, twelve have given a Hold rating and nine have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $317.70.

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.