Strengthening Families & Communities LLC Sells 921 Shares of Tesla, Inc. $TSLA

Key Points

• Strengthening Families & Communities LLC has reduced its holdings in Tesla, Inc. by 12.4%, selling 921 shares and now holding 6,522 shares valued at approximately $2.07 million.
• Insider transactions have seen notable sales, with Director James R. Murdoch selling 120,000 shares and SVP Xiaotong Zhu selling 20,000 shares, reflecting significant decreases in their ownership percentages.
• Recent analyst reports indicate a mixed outlook for Tesla, with ratings ranging from "Strong Buy" to "Sell" and varying price targets, while consensus suggests a price target of $354.67.

Strengthening Families & Communities LLC decreased its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 12.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,522 shares of the electric vehicle producer's stock after selling 921 shares during the quarter. Strengthening Families & Communities LLC's holdings in Tesla were worth $2,069,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Means Investment CO. Inc. lifted its position in shares of Tesla by 37.7% in the 1st quarter. Means Investment CO. Inc. now owns 23,089 shares of the electric vehicle producer's stock worth $5,984,000 after purchasing an additional 6,323 shares during the period. Siren L.L.C. bought a new stake in Tesla during the first quarter valued at about $2,332,000. Zuckerman Investment Group LLC boosted its position in Tesla by 6.9% during the first quarter. Zuckerman Investment Group LLC now owns 12,748 shares of the electric vehicle producer's stock valued at $3,304,000 after purchasing an additional 826 shares in the last quarter. Keystone Global Partners LLC bought a new stake in Tesla during the first quarter valued at about $594,000. Finally, Strs Ohio bought a new stake in Tesla during the first quarter valued at about $205,495,000. Hedge funds and other institutional investors own 66.20% of the company's stock.

Insider Transactions at Tesla

In other news, Director James R. Murdoch sold 120,000 shares of the firm's stock in a transaction dated Tuesday, August 26th. The stock was 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 in the company, valued at $244,162,988.99. This trade represents a 14.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Xiaotong Zhu sold 20,000 shares of the firm's stock in a transaction dated 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 approximately $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 a total of 202,606 shares of company stock worth $75,588,902 over the last three months. 19.90% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Daiwa Capital Markets reaffirmed a "neutral" rating on shares of Tesla in a research report on Sunday, July 27th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Tesla in a research report on Wednesday. UBS Group set a $247.00 price objective on Tesla in a research report on Monday, October 6th. Deutsche Bank Aktiengesellschaft raised their price objective on Tesla from $345.00 to $435.00 and gave the company a "buy" rating in a research report on Friday, September 26th. Finally, Stifel Nicolaus set a $483.00 price objective on Tesla and gave the company a "buy" rating in a research report on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, thirteen have assigned a Hold rating and eight have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $354.67.

Tesla Trading Down 5.1%

Tesla stock opened at $413.49 on Friday. The stock has a 50-day moving average of $375.97 and a two-hundred day moving average of $327.89. 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 stock has a market cap of $1.37 trillion, a PE ratio of 239.01, a price-to-earnings-growth ratio of 15.01 and a beta of 2.08.

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

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.