Signature Estate & Investment Advisors LLC Cuts Stake in Tesla, Inc. $TSLA

Key Points

• Signature Estate & Investment Advisors LLC reduced its stake in Tesla, Inc. by 4.5%, now holding 13,839 shares valued at $4,396,000.
• Tesla's stock opened at $439.31, with a market cap of $1.46 trillion and recent quarterly revenue that saw a decline of 11.8% compared to the previous year.
• Analyst ratings for Tesla show a consensus rating of "Hold," with a target price of $363.54; two analysts rated it as a Strong Buy while ten issued Sell ratings.

Signature Estate & Investment Advisors LLC reduced its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 4.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 13,839 shares of the electric vehicle producer's stock after selling 649 shares during the period. Signature Estate & Investment Advisors LLC's holdings in Tesla were worth $4,396,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. First PREMIER Bank grew its holdings in Tesla by 79.2% during the 1st quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock worth $25,000 after acquiring an additional 42 shares in the last quarter. Arcadia Investment Management Corp MI acquired a new position in Tesla during the 1st quarter worth approximately $27,000. Chelsea Counsel Co. grew its holdings in Tesla by 59.7% during the 1st quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer's stock worth $28,000 after acquiring an additional 40 shares in the last quarter. Centennial Bank AR grew its holdings in Tesla by 833.3% during the 1st quarter. Centennial Bank AR now owns 112 shares of the electric vehicle producer's stock worth $29,000 after acquiring an additional 100 shares in the last quarter. Finally, Compass Wealth Management LLC grew its holdings in Tesla by 360.0% during the 1st quarter. Compass Wealth Management LLC now owns 115 shares of the electric vehicle producer's stock worth $30,000 after acquiring an additional 90 shares in the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TSLA has been the subject of several analyst reports. William Blair reiterated a "market perform" rating on shares of Tesla in a report on Friday, September 5th. Cantor Fitzgerald restated an "overweight" rating and issued a $355.00 target price on shares of Tesla in a report on Friday, October 3rd. UBS Group set a $247.00 target price on shares of Tesla in a report on Monday, October 6th. JPMorgan Chase & Co. upped their target price on shares of Tesla from $115.00 to $150.00 in a report on Friday, October 3rd. Finally, Mizuho upped their target price on shares of Tesla from $375.00 to $450.00 and gave the company an "outperform" rating in a report on Tuesday, September 23rd. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, twelve have assigned a Hold rating and ten have issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $363.54.

Insider Activity

In other news, SVP Xiaotong Zhu sold 20,000 shares of the stock in a transaction dated 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 completion of the transaction, the senior vice president owned 47,600 shares in the company, valued at $17,314,500. This trade represents a 29.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Vaibhav Taneja sold 2,606 shares of the stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $352.38, for a total transaction of $918,302.28. Following the completion of the transaction, the chief financial officer owned 9,856 shares of the company's stock, valued at $3,473,057.28. This represents a 20.91% decrease in their position. The disclosure for this sale can be found here. Insiders sold 202,606 shares of company stock worth $75,588,902 in the last 90 days. 19.90% of the stock is currently owned by corporate insiders.

Tesla Stock Up 2.5%

Shares of Tesla stock opened at $439.31 on Friday. The company has a market cap of $1.46 trillion, a P/E ratio of 253.94, a PEG ratio of 15.79 and a beta of 2.08. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04. Tesla, Inc. has a one year low of $212.11 and a one year high of $488.54. The firm has a fifty day moving average of $387.54 and a two-hundred day moving average of $333.60.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The electric vehicle producer reported $0.40 EPS for the quarter, missing analysts' consensus estimates of $0.43 by ($0.03). The firm had revenue of $22.50 billion for the quarter, compared to analysts' expectations of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%.The firm's quarterly revenue was down 11.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.52 EPS. On average, analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current year.

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.

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