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

SRH Advisors LLC lowered its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 22.8% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,105 shares of the electric vehicle producer's stock after selling 620 shares during the period. Tesla comprises about 0.2% of SRH Advisors LLC's investment portfolio, making the stock its 23rd biggest holding. SRH Advisors LLC's holdings in Tesla were worth $669,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in TSLA. Brighton Jones LLC raised 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 purchasing an additional 9,293 shares in the last quarter. Revolve Wealth Partners LLC raised its holdings in Tesla by 21.2% in the 4th quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer's stock worth $2,147,000 after purchasing an additional 931 shares in the last quarter. Bison Wealth LLC raised its holdings in 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 purchasing an additional 3,558 shares in the last quarter. Congress Asset Management Co. bought a new position in Tesla in the 1st quarter worth $315,000. Finally, NewSquare Capital LLC raised its holdings in Tesla by 146.5% in the 1st quarter. NewSquare Capital LLC now owns 954 shares of the electric vehicle producer's stock worth $247,000 after purchasing an additional 567 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director James R. Murdoch sold 120,000 shares of the stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $350.29, for a total value of $42,034,800.00. Following the completion of the transaction, the director directly owned 697,031 shares of the company's stock, valued at $244,162,988.99. This trade represents a 14.69% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Xiaotong Zhu sold 20,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the senior vice president directly 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 have sold a total of 202,606 shares of company stock worth $75,588,902 in the last three months. Corporate insiders own 19.90% of the company's stock.

Tesla Trading Down 4.4%

TSLA stock opened at $433.09 on Wednesday. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a twelve month low of $212.11 and a twelve month high of $488.54. The stock has a market capitalization of $1.44 trillion, a price-to-earnings ratio of 250.34, a price-to-earnings-growth ratio of 15.75 and a beta of 2.08. The firm's fifty day simple moving average is $368.81 and its two-hundred day simple moving average is $324.77.

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

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Baird R W upgraded shares of Tesla from a "hold" rating to a "strong-buy" rating in a research note on Friday, September 19th. Royal Bank Of Canada reiterated a "buy" rating on shares of Tesla in a research note on Friday, September 26th. HSBC increased their price target on shares of Tesla from $120.00 to $127.00 in a research note on Monday, September 29th. Morgan Stanley reiterated an "overweight" rating and issued a $410.00 price target on shares of Tesla in a research note on Thursday, October 2nd. Finally, Dbs Bank increased their price target on shares of Tesla from $300.00 to $450.00 in a research note on Wednesday, September 17th. Two analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, thirteen have given a Hold rating and eight have assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $344.40.

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.

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