Tesla, Inc. $TSLA Shares Sold by Fortis Capital Advisors LLC

Key Points

• Fortis Capital Advisors LLC reduced its holdings in Tesla, Inc. by 6.9% in the second quarter, now owning 14,154 shares valued at approximately $4.5 million.
• Tesla's stock is currently down 1.4%, with shares opening at $429.83 and a market cap of $1.43 trillion.
• Insider transactions included Director James R. Murdoch selling 120,000 shares for about $42 million, reflecting a 14.69% decrease in his position.

Fortis Capital Advisors LLC decreased its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 6.9% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 14,154 shares of the electric vehicle producer's stock after selling 1,044 shares during the quarter. Tesla accounts for about 0.8% of Fortis Capital Advisors LLC's holdings, making the stock its 24th largest holding. Fortis Capital Advisors LLC's holdings in Tesla were worth $4,496,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. KWB Wealth raised its holdings in Tesla by 2.4% in the 2nd quarter. KWB Wealth now owns 1,381 shares of the electric vehicle producer's stock worth $439,000 after purchasing an additional 33 shares during the period. Conrad Siegel Investment Advisors Inc. raised its holdings in shares of Tesla by 3.6% during the second quarter. Conrad Siegel Investment Advisors Inc. now owns 976 shares of the electric vehicle producer's stock valued at $310,000 after acquiring an additional 34 shares during the last quarter. Guyasuta Investment Advisors Inc. raised its holdings in shares of Tesla by 0.7% during the second quarter. Guyasuta Investment Advisors Inc. now owns 5,107 shares of the electric vehicle producer's stock valued at $1,622,000 after acquiring an additional 34 shares during the last quarter. Kelly Financial Services LLC raised its holdings in shares of Tesla by 2.7% during the second quarter. Kelly Financial Services LLC now owns 1,331 shares of the electric vehicle producer's stock valued at $423,000 after acquiring an additional 35 shares during the last quarter. Finally, Acorn Wealth Advisors LLC raised its holdings in shares of Tesla by 1.9% during the first quarter. Acorn Wealth Advisors LLC now owns 1,901 shares of the electric vehicle producer's stock valued at $493,000 after acquiring an additional 36 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company's stock.

Tesla Stock Down 1.4%

Shares of Tesla stock opened at $429.83 on Friday. The company has a market cap of $1.43 trillion, a P/E ratio of 248.46, a PEG ratio of 14.93 and a beta of 2.08. 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 firm has a fifty day moving average of $364.02 and a two-hundred day moving average of $321.99.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $22.50 billion for 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%.The firm's quarterly revenue was down 11.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.52 EPS. On average, analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director James R. Murdoch sold 120,000 shares of the company'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 transaction, the director directly owned 697,031 shares of the company's stock, valued at $244,162,988.99. This represents a 14.69% decrease in their position. The transaction 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 company's stock in a transaction 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 in the company, 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. In the last quarter, insiders sold 208,606 shares of company stock worth $77,360,462. 19.90% of the stock is owned by insiders.

Analyst Ratings Changes

TSLA has been the subject of a number of research analyst reports. Canaccord Genuity Group increased their target price on Tesla from $333.00 to $490.00 and gave the company a "buy" rating in a report on Tuesday, September 30th. Weiss Ratings reissued a "hold (c)" rating on shares of Tesla in a report on Saturday, September 27th. JPMorgan Chase & Co. increased their target price on Tesla from $115.00 to $150.00 in a report on Friday. Baird R W raised Tesla from a "hold" rating to a "strong-buy" rating in a report on Friday, September 19th. Finally, Robert W. Baird raised Tesla from a "neutral" rating to an "outperform" rating and increased their price target for the company from $320.00 to $548.00 in a report on Friday, September 19th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, thirteen have issued a Hold rating and eight have issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $343.43.

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.

Want to see what other hedge funds are holding TSLA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tesla, Inc. (NASDAQ:TSLA - Free Report).

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.