Tesla, Inc. $TSLA Shares Sold by Plancorp LLC

Key Points

• Plancorp LLC reduced its stake in Tesla by 10.5%, ending the quarter with 8,882 shares valued at approximately $2.8 million after selling 1,040 shares.
• Insiders at Tesla, including CFO Vaibhav Taneja and SVP Xiaotong Zhu, sold a total of 208,606 shares valued at over $77 million in the past 90 days, indicating potential shifts in confidence regarding the stock.
• Despite a second quarter revenue decrease of 11.8% year-over-year, Tesla reported earnings per share of $0.40, missing analyst expectations by $0.03.

Plancorp LLC lessened its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 10.5% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 8,882 shares of the electric vehicle producer's stock after selling 1,040 shares during the quarter. Plancorp LLC's holdings in Tesla were worth $2,821,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in TSLA. Conrad Siegel Investment Advisors Inc. increased its stake in shares of Tesla by 3.6% during the 2nd 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. Acorn Wealth Advisors LLC grew its holdings in Tesla by 1.9% in the first quarter. Acorn Wealth Advisors LLC now owns 1,901 shares of the electric vehicle producer's stock valued at $493,000 after purchasing an additional 36 shares during the period. Solutions 4 Wealth Ltd increased its position in Tesla by 2.0% during the first quarter. Solutions 4 Wealth Ltd now owns 1,815 shares of the electric vehicle producer's stock worth $470,000 after purchasing an additional 36 shares during the last quarter. ACT Wealth Management LLC raised its stake in Tesla by 0.7% during the second quarter. ACT Wealth Management LLC now owns 5,405 shares of the electric vehicle producer's stock worth $1,717,000 after purchasing an additional 36 shares during the period. Finally, Capital Management Associates Inc boosted its holdings in shares of Tesla by 3.4% in the 1st quarter. Capital Management Associates Inc now owns 1,166 shares of the electric vehicle producer's stock valued at $302,000 after purchasing an additional 38 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company's stock.

Insider Buying and Selling at Tesla

In related news, CFO Vaibhav Taneja sold 4,000 shares of the business's stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $292.89, for a total value of $1,171,560.00. Following the transaction, the chief financial officer owned 5,924 shares in the company, valued at approximately $1,735,080.36. The trade was a 40.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Xiaotong Zhu sold 20,000 shares of the stock in a transaction dated 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 of the company's stock, valued at $17,314,500. This represents a 29.59% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 208,606 shares of company stock valued at $77,360,462 in the last ninety days. Insiders own 19.90% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on TSLA. Morgan Stanley reaffirmed an "overweight" rating and issued a $410.00 target price on shares of Tesla in a research report on Friday, September 5th. Guggenheim restated a "sell" rating and issued a $175.00 price objective on shares of Tesla in a report on Wednesday, July 23rd. Bank of America lifted their price objective on Tesla from $305.00 to $341.00 and gave the company a "neutral" rating in a research note on Monday, July 21st. Stifel Nicolaus set a $440.00 target price on shares of Tesla in a research report on Friday, September 5th. Finally, Argus reaffirmed a "hold" rating on shares of Tesla in a research report on Monday, June 9th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, twelve have given a Hold rating and nine have assigned a Sell rating to the stock. According to data from MarketBeat, Tesla presently has a consensus rating of "Hold" and an average target price of $326.74.

Tesla Stock Down 4.4%

NASDAQ TSLA opened at $423.39 on Friday. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a fifty-two week low of $212.11 and a fifty-two week high of $488.54. The business has a 50 day moving average price of $349.83 and a two-hundred day moving average price of $312.97. The stock has a market cap of $1.41 trillion, a PE ratio of 244.73, a P/E/G ratio of 15.45 and a beta of 2.06.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its earnings results 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 analyst estimates of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%.The company's revenue for the quarter was down 11.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.52 earnings per share. As a group, sell-side analysts predict that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

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.

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