SOA Wealth Advisors LLC. Reduces Stock Position in Tesla, Inc. $TSLA

Key Points

• SOA Wealth Advisors LLC. reduced its position in Tesla, Inc. by 27.2% during the 2nd quarter, holding 7,709 shares worth approximately $2.45 million at the end of the reporting period.
• Notable changes in Tesla stock holdings include Brighton Jones LLC increasing its stake by 11.8%, while multiple other investors also raised their shares significantly during the last quarter.
• Tesla's recent quarterly earnings missed analysts' expectations, reporting $22.50 billion in revenue with an EPS of $0.40, which was below the forecast of $0.43.

SOA Wealth Advisors LLC. lessened its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 27.2% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 7,709 shares of the electric vehicle producer's stock after selling 2,886 shares during the quarter. SOA Wealth Advisors LLC.'s holdings in Tesla were worth $2,449,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Brighton Jones LLC lifted its holdings in shares of Tesla by 11.8% in the 4th quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer's stock valued at $35,509,000 after buying an additional 9,293 shares during the period. Revolve Wealth Partners LLC lifted its holdings in shares of Tesla by 21.2% in 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 buying an additional 931 shares during the period. Bison Wealth LLC lifted 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 valued at $4,187,000 after buying an additional 3,558 shares during the period. Hennion & Walsh Asset Management Inc. lifted its holdings in shares of Tesla by 3.7% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 4,605 shares of the electric vehicle producer's stock valued at $1,193,000 after buying an additional 165 shares during the period. Finally, Apella Capital LLC lifted its holdings in shares of Tesla by 17.6% in the 1st quarter. Apella Capital LLC now owns 4,399 shares of the electric vehicle producer's stock valued at $1,197,000 after buying an additional 658 shares during the period. Hedge funds and other institutional investors own 66.20% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Stifel Nicolaus set a $440.00 price objective on Tesla in a report on Friday, September 5th. Guggenheim reaffirmed a "sell" rating and issued a $175.00 price target on shares of Tesla in a report on Wednesday, July 23rd. Baird R W raised Tesla from a "hold" rating to a "strong-buy" rating in a report on Friday, September 19th. Robert W. Baird raised Tesla from a "neutral" rating to an "outperform" rating and upped their price target for the stock from $320.00 to $548.00 in a report on Friday, September 19th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Tesla in a report on Thursday, July 24th. Two analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, twelve have assigned a Hold rating and eight have assigned a Sell rating to the company's stock. According to MarketBeat, Tesla has an average rating of "Hold" and an average target price of $341.46.

Insider Activity

In other news, CFO Vaibhav Taneja sold 2,606 shares of the company's stock in a transaction that occurred 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 sale, the chief financial officer directly owned 9,856 shares in the company, valued at $3,473,057.28. This represents a 20.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Xiaotong Zhu sold 20,000 shares of the stock in a transaction that occurred on Thursday, September 11th. The stock was 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 of the company's stock, valued at $17,314,500. The trade was a 29.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 208,606 shares of company stock worth $77,360,462 over the last ninety days. Corporate insiders own 19.90% of the company's stock.

Tesla Stock Performance

TSLA opened at $436.00 on Friday. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07. The firm's 50-day moving average price is $361.74 and its 200 day moving average price is $319.98. The firm has a market capitalization of $1.45 trillion, a PE ratio of 252.02, a PEG ratio of 15.97 and a beta of 2.08. Tesla, Inc. has a twelve month low of $212.11 and a twelve month high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last posted 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 company 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%. Tesla's revenue for the quarter was down 11.8% on a year-over-year basis. During the same quarter last year, the company earned $0.52 earnings per share. As a group, sell-side analysts expect that Tesla, Inc. will post 2.56 EPS for the current fiscal 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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