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Tesla, Inc. $TSLA Shares Sold by Journey Advisory Group LLC

Tesla logo with Auto/Tires/Trucks background

Key Points

  • Journey Advisory Group LLC reduced its stake in Tesla, Inc. by 65.9%, selling 6,536 shares and ending up with 3,389 shares valued at approximately $1,077,000.
  • Tesla's recent quarterly earnings report showed earnings per share of $0.40, missing expectations by $0.03, with a revenue of $22.50 billion, down 11.8% year-over-year.
  • Analyst ratings for Tesla show mixed sentiments, with a consensus target price of $363.54 and a range of recommendations from Strong Buy to Sell issued by various firms.
  • Five stocks to consider instead of Tesla.

Journey Advisory Group LLC lowered its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 65.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,389 shares of the electric vehicle producer's stock after selling 6,536 shares during the quarter. Journey Advisory Group LLC's holdings in Tesla were worth $1,077,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Arcadia Investment Management Corp MI acquired a new stake in Tesla during the 1st quarter worth approximately $27,000. Chelsea Counsel Co. grew its position in shares of 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 in the last quarter. Centennial Bank AR grew its position in shares of Tesla by 833.3% during the first quarter. Centennial Bank AR now owns 112 shares of the electric vehicle producer's stock worth $29,000 after buying an additional 100 shares in the last quarter. Compass Wealth Management LLC grew its position in shares of Tesla by 360.0% during the first quarter. Compass Wealth Management LLC now owns 115 shares of the electric vehicle producer's stock worth $30,000 after buying an additional 90 shares in the last quarter. Finally, Columbia River Financial Group LLC bought a new position in Tesla during the first quarter worth $32,000. Institutional investors and hedge funds own 66.20% of the company's stock.

Tesla Trading Up 1.8%

Shares of NASDAQ TSLA opened at $447.43 on Tuesday. Tesla, Inc. has a one year low of $212.11 and a one year high of $488.54. The business has a 50-day moving average price of $389.71 and a two-hundred day moving average price of $335.51. 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 firm has a market capitalization of $1.49 trillion, a PE ratio of 258.63, a PEG ratio of 15.79 and a beta of 2.08.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its quarterly earnings results 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 firm 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 firm's revenue for the quarter was down 11.8% on a year-over-year basis. As a group, analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

TSLA has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft raised their price objective on Tesla from $345.00 to $435.00 and gave the stock a "buy" rating in a research note on Friday, September 26th. Mizuho raised their price target on Tesla from $375.00 to $450.00 and gave the company an "outperform" rating in a report on Tuesday, September 23rd. Evercore ISI raised their target price on Tesla from $235.00 to $300.00 and gave the company an "in-line" rating in a research note on Monday, October 13th. Stifel Nicolaus set a $483.00 target price on Tesla and gave the company a "buy" rating in a research note on Wednesday, October 8th. Finally, UBS Group set a $247.00 price target on Tesla in a research report on Monday, October 6th. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, twelve have issued a Hold rating and ten have assigned a Sell rating to the company. Based on data from MarketBeat, Tesla has an average rating of "Hold" and a consensus target price of $363.54.

View Our Latest Stock Report on Tesla

Insider Activity at Tesla

In related news, 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 value 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Vaibhav Taneja sold 2,606 shares of Tesla stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $352.38, for a total value of $918,302.28. Following the completion of the transaction, the chief financial officer directly owned 9,856 shares in the company, valued at approximately $3,473,057.28. This represents a 20.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 202,606 shares of company stock valued at $75,588,902. Corporate insiders own 19.90% of the company's stock.

About Tesla

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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.

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