Tesla, Inc. $TSLA Shares Sold by Forte Capital LLC ADV

Key Points

• Forte Capital LLC ADV decreased its holdings in Tesla by 4.8%, owning 12,855 shares worth approximately $4.08 million after selling 643 shares during the second quarter.
• Analysts have updated their price targets for Tesla, with Goldman Sachs raising it from $300 to $395, and Mizuho increasing theirs from $375 to $450, indicating a generally positive outlook.
• Director James R. Murdoch sold 120,000 shares of Tesla valued at $42.03 million, reducing his ownership by 14.69% in a significant insider transaction.

Forte Capital LLC ADV lessened its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 4.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,855 shares of the electric vehicle producer's stock after selling 643 shares during the quarter. Forte Capital LLC ADV's holdings in Tesla were worth $4,084,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of TSLA. Cherry Tree Wealth Management LLC grew its stake 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 in the last quarter. First PREMIER Bank grew its position in shares of Tesla by 79.2% in the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after purchasing an additional 42 shares in the last quarter. Newton One Investments LLC increased its holdings in shares of Tesla by 250.0% in the first quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock valued at $27,000 after purchasing an additional 75 shares during the last quarter. Arcadia Investment Management Corp MI purchased a new position in Tesla during the first quarter worth approximately $27,000. Finally, Chelsea Counsel Co. boosted its stake in Tesla by 59.7% during the first quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer's stock worth $28,000 after buying an additional 40 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on TSLA shares. The Goldman Sachs Group raised their target price on Tesla from $300.00 to $395.00 and gave the stock a "neutral" rating in a research note on Thursday, September 18th. Mizuho raised their price objective on shares of Tesla from $375.00 to $450.00 and gave the stock an "outperform" rating in a research report on Tuesday. Bank of America boosted their target price on shares of Tesla from $305.00 to $341.00 and gave the company a "neutral" rating in a report on Monday, July 21st. Baird R W upgraded shares of Tesla from a "hold" rating to a "strong-buy" rating in a report on Friday, September 19th. Finally, Glj Research reaffirmed a "sell" rating on shares of Tesla in a research report on Thursday, July 24th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, twelve have issued a Hold rating and nine have assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $326.74.

Insiders Place Their Bets

In related news, Director James R. Murdoch sold 120,000 shares of the business's stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $350.29, for a total transaction of $42,034,800.00. Following the completion of the transaction, the director owned 697,031 shares in the company, valued at approximately $244,162,988.99. The trade was a 14.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Xiaotong Zhu sold 20,000 shares of the stock in a transaction on Thursday, September 11th. The shares were 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 directly owned 47,600 shares in the company, valued at $17,314,500. This trade represents a 29.59% decrease in their position. The disclosure for this sale can be found here. Insiders sold 208,606 shares of company stock worth $77,360,462 in the last 90 days. Corporate insiders own 19.90% of the company's stock.

Tesla Trading Down 1.9%

TSLA opened at $425.85 on Wednesday. The business has a fifty day moving average price of $345.33 and a 200 day moving average price of $310.67. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55. Tesla, Inc. has a 12 month low of $212.11 and a 12 month high of $488.54. The stock has a market capitalization of $1.42 trillion, a price-to-earnings ratio of 246.16, a PEG ratio of 15.15 and a beta of 2.06.

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 net margin of 6.54% and a return on equity of 7.98%. The company 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 posted $0.52 EPS. The business's quarterly revenue was down 11.8% compared to the same quarter last year. Sell-side analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

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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