Tesla, Inc. $TSLA Shares Sold by Clarius Group LLC

Key Points

• Clarius Group LLC reduced its holdings in Tesla by 12.2% during the second quarter, now owning 23,599 shares valued at $7,497,000.
• Multiple institutional investors have adjusted their positions, with some like Signature Wealth Management Partners LLC increasing their stake by 18.5% during the same period.
• Tesla's stock is currently rated with an average "Hold" and has a target price of $343.43, with some analysts giving it a "buy" rating.

Clarius Group LLC decreased its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 12.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,599 shares of the electric vehicle producer's stock after selling 3,293 shares during the period. Clarius Group LLC's holdings in Tesla were worth $7,497,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Accel Wealth Management grew its stake in shares of Tesla by 3.0% during the second quarter. Accel Wealth Management now owns 1,681 shares of the electric vehicle producer's stock worth $534,000 after purchasing an additional 49 shares in the last quarter. Checchi Capital Advisers LLC grew its stake in shares of Tesla by 1.6% during the second quarter. Checchi Capital Advisers LLC now owns 42,418 shares of the electric vehicle producer's stock worth $13,474,000 after purchasing an additional 671 shares in the last quarter. Diligent Investors LLC grew its stake in shares of Tesla by 6.8% during the second quarter. Diligent Investors LLC now owns 8,646 shares of the electric vehicle producer's stock worth $2,747,000 after purchasing an additional 550 shares in the last quarter. Elevate Capital Advisors LLC acquired a new position in shares of Tesla during the second quarter worth $269,000. Finally, Signature Wealth Management Partners LLC grew its stake in shares of Tesla by 18.5% during the second quarter. Signature Wealth Management Partners LLC now owns 2,014 shares of the electric vehicle producer's stock worth $640,000 after purchasing an additional 315 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company's stock.

Analyst Upgrades and Downgrades

TSLA has been the subject of a number of analyst reports. China Renaissance reiterated a "hold" rating and set a $349.00 target price on shares of Tesla in a research note on Friday, July 25th. Robert W. Baird upgraded shares of Tesla from a "neutral" rating to an "outperform" rating and boosted their target price for the stock from $320.00 to $548.00 in a research note on Friday, September 19th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Tesla from $345.00 to $435.00 and gave the company a "buy" rating in a research note on Friday, September 26th. Needham & Company LLC restated a "hold" rating on shares of Tesla in a research note on Thursday, July 24th. Finally, William Blair restated a "market perform" rating on shares of Tesla in a research note on Friday, September 5th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, thirteen have given a Hold rating and eight have issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $343.43.

Tesla Trading Down 1.4%

Shares of Tesla stock opened at $429.83 on Monday. Tesla, Inc. has a 12-month low of $212.11 and a 12-month high of $488.54. 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 stock has a market cap of $1.43 trillion, a PE ratio of 248.46, a price-to-earnings-growth ratio of 14.93 and a beta of 2.08. The company has a 50-day moving average of $364.02 and a two-hundred day moving average of $322.58.

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

Insider Transactions at Tesla

In other news, CFO Vaibhav Taneja sold 2,606 shares of the firm's stock in a transaction that occurred on 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 directly owned 9,856 shares of the company's stock, valued at $3,473,057.28. This trade represents a 20.91% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Xiaotong Zhu sold 20,000 shares of the firm's stock in a transaction that occurred on Thursday, September 11th. The stock was 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 of the company's stock, valued at approximately $17,314,500. This trade represents a 29.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 204,606 shares of company stock valued at $76,188,902 in the last ninety days. Corporate insiders own 19.90% of the company's stock.

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.

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