Tesla, Inc. $TSLA Shares Sold by Sovran Advisors LLC

Key Points

• Sovran Advisors LLC reduced its stake in Tesla, Inc. by 23.0%, selling 3,767 shares and leaving it with a total of 12,624 shares valued at $3,760,000.
• Tesla's shares are currently trading at $425.86, with a market capitalization of $1.37 trillion and a PE ratio of 246.16.
• Insider sales included Director James R. Murdoch selling 60,000 shares for approximately $25.36 million, representing an 8.61% decrease in his ownership stake.

Sovran Advisors LLC reduced its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 23.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,624 shares of the electric vehicle producer's stock after selling 3,767 shares during the period. Sovran Advisors LLC's holdings in Tesla were worth $3,760,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Cherry Tree Wealth Management LLC lifted its position in Tesla by 86.3% during the 1st quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after acquiring an additional 44 shares during the period. First PREMIER Bank raised its holdings in Tesla by 79.2% in the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock worth $25,000 after buying an additional 42 shares during the last quarter. Pacific Center for Financial Services raised its holdings in Tesla by 1,616.7% in the fourth quarter. Pacific Center for Financial Services now owns 103 shares of the electric vehicle producer's stock worth $42,000 after buying an additional 97 shares during the last quarter. Arcadia Investment Management Corp MI purchased a new position in Tesla in the first quarter worth about $27,000. Finally, Newton One Investments LLC raised its holdings in Tesla by 250.0% in the first quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock worth $27,000 after buying an additional 75 shares during the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Vaibhav Taneja sold 4,000 shares of the business's stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $292.89, for a total transaction of $1,171,560.00. Following the transaction, the chief financial officer owned 5,924 shares of the company's stock, valued at approximately $1,735,080.36. The trade was a 40.31% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Xiaotong Zhu sold 20,000 shares of the business's stock in a transaction dated 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. The trade was a 29.59% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 208,606 shares of company stock valued at $77,360,462. 20.70% of the stock is currently owned by insiders.

Tesla Stock Performance

Shares of NASDAQ:TSLA traded up $9.22 during trading on Friday, hitting $426.07. 92,721,496 shares of the stock traded hands, compared to its average volume of 86,324,392. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07. The company has a market cap of $1.42 trillion, a price-to-earnings ratio of 246.28, a P/E/G ratio of 14.86 and a beta of 2.06. The company has a fifty day moving average price of $340.68 and a two-hundred day moving average price of $308.35. 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 issued its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 EPS for the quarter, missing the consensus estimate 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 return on equity of 7.98% and a net margin of 6.54%.Tesla's revenue was down 11.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.52 EPS. As a group, equities analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Wedbush reaffirmed an "outperform" rating and issued a $500.00 target price on shares of Tesla in a report on Monday, September 15th. Guggenheim reissued a "sell" rating and set a $175.00 price objective on shares of Tesla in a report on Wednesday, July 23rd. William Blair reissued a "market perform" rating on shares of Tesla in a report on Friday, September 5th. Glj Research reissued a "sell" rating on shares of Tesla in a report on Thursday, July 24th. Finally, Piper Sandler reissued an "overweight" rating and set a $400.00 price objective on shares of Tesla in a report on Tuesday, June 10th. Two investment 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. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $317.70.

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.