Tesla, Inc. $TSLA Shares Sold by Secured Retirement Advisors LLC

Key Points

• Secured Retirement Advisors LLC reduced its holdings in Tesla by 13.5%, now owning 4,506 shares worth approximately $1.43 million.
• Insiders, including SVP Xiaotong Zhu and Director James R. Murdoch, sold a total of 80,000 shares recently, indicating a significant reduction in their ownership.
• Tesla's stock has a market capitalization of $1.46 trillion with a 12-month low of $212.11 and high of $488.54, while the company reported earnings of $0.40 per share, missing estimates.

Secured Retirement Advisors LLC lessened its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 13.5% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,506 shares of the electric vehicle producer's stock after selling 706 shares during the quarter. Secured Retirement Advisors LLC's holdings in Tesla were worth $1,431,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TSLA. Cherry Tree Wealth Management LLC grew its position in Tesla by 86.3% in the first 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 boosted its stake in shares of Tesla by 79.2% during the 1st quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after buying an additional 42 shares during the last quarter. Newton One Investments LLC boosted its stake in shares of Tesla by 250.0% during the 1st quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock valued at $27,000 after buying an additional 75 shares during the last quarter. Arcadia Investment Management Corp MI purchased a new position in shares of Tesla during the 1st quarter valued at approximately $27,000. Finally, Chelsea Counsel Co. boosted its stake in shares of Tesla by 59.7% during the 1st quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer's stock valued at $28,000 after buying an additional 40 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company's stock.

Insider Buying and Selling at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 20,000 shares of the firm's stock in a transaction 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 sale, 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director James R. Murdoch sold 60,000 shares of the firm's stock in a transaction on Monday, September 15th. The shares were sold at an average price of $422.68, for a total value of $25,360,800.00. Following the completion of the sale, the director owned 637,031 shares in the company, valued at $269,260,263.08. The trade was a 8.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 202,606 shares of company stock worth $75,588,902. 19.90% of the stock is owned by insiders.

Tesla Stock Performance

Shares of TSLA opened at $438.69 on Thursday. The business's fifty day moving average price is $371.20 and its 200 day moving average price is $325.56. 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 $1.46 trillion, a PE ratio of 253.58, a price-to-earnings-growth ratio of 15.92 and a beta of 2.08. 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 (NASDAQ:TSLA - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.43 by ($0.03). The company had revenue of $22.50 billion during the quarter, compared to the consensus estimate of $23.18 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. The business's quarterly revenue was down 11.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.52 earnings per share. Equities research analysts forecast that Tesla, Inc. will post 2.56 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Stifel Nicolaus set a $483.00 target price on Tesla and gave the company a "buy" rating in a research note on Wednesday. Daiwa Capital Markets reiterated a "neutral" rating on shares of Tesla in a research note on Sunday, July 27th. Weiss Ratings reiterated a "hold (c)" rating on shares of Tesla in a research note on Wednesday. Piper Sandler increased their target price on Tesla from $400.00 to $500.00 and gave the company an "overweight" rating in a research note on Monday, September 22nd. Finally, Wedbush increased their target price on Tesla from $500.00 to $600.00 and gave the company an "outperform" rating in a research note on Friday, September 26th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, thirteen have assigned a Hold rating and eight have given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $345.70.

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.