Juncture Wealth Strategies LLC trimmed its position in Tesla, Inc. (NASDAQ:TSLA – Free Report) by 59.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,593 shares of the electric vehicle producer’s stock after selling 2,338 shares during the quarter. Juncture Wealth Strategies LLC’s holdings in Tesla were worth $417,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also modified their holdings of TSLA. Axiom Financial Strategies LLC increased its position in Tesla by 9.8% during the first quarter. Axiom Financial Strategies LLC now owns 906 shares of the electric vehicle producer’s stock worth $777,000 after acquiring an additional 81 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Tesla by 19.7% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,001,923 shares of the electric vehicle producer’s stock valued at $1,079,672,000 after buying an additional 164,789 shares during the last quarter. MAS Advisors LLC lifted its stake in shares of Tesla by 25.7% in the first quarter. MAS Advisors LLC now owns 396 shares of the electric vehicle producer’s stock valued at $433,000 after buying an additional 81 shares during the period. Ergoteles LLC increased its stake in Tesla by 33.4% during the first quarter. Ergoteles LLC now owns 3,567 shares of the electric vehicle producer’s stock valued at $3,844,000 after acquiring an additional 893 shares during the period. Finally, Mackenzie Financial Corp raised its holdings in Tesla by 6.8% in the 1st quarter. Mackenzie Financial Corp now owns 72,167 shares of the electric vehicle producer’s stock valued at $77,767,000 after acquiring an additional 4,593 shares in the last quarter. 41.87% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of analysts have recently issued reports on TSLA shares. Citigroup boosted their price objective on Tesla from $215.00 to $278.00 and gave the company a “neutral” rating in a research report on Wednesday, July 12th. Barclays downgraded shares of Tesla from an “overweight” rating to an “equal weight” rating and raised their price objective for the stock from $220.00 to $260.00 in a report on Wednesday, June 21st. Sanford C. Bernstein reissued an “underperform” rating and issued a $150.00 target price on shares of Tesla in a research note on Thursday, July 20th. Mizuho raised their price target on shares of Tesla from $300.00 to $330.00 in a research note on Thursday, July 20th. Finally, KGI Securities raised Tesla from a “neutral” rating to an “outperform” rating in a report on Monday, June 12th. Six research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, Tesla presently has an average rating of “Hold” and a consensus target price of $239.43.
Insiders Place Their Bets
In related news, SVP Xiaotong Zhu sold 1,065 shares of the company’s stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $249.62, for a total value of $265,845.30. Following the completion of the sale, the senior vice president now owns 59,540 shares in the company, valued at approximately $14,862,374.80. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, CAO Vaibhav Taneja sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, July 7th. The stock was sold at an average price of $278.36, for a total value of $1,113,440.00. Following the completion of the transaction, the chief accounting officer now directly owns 104,504 shares in the company, valued at approximately $29,089,733.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Xiaotong Zhu sold 1,065 shares of Tesla stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $249.62, for a total transaction of $265,845.30. Following the completion of the transaction, the senior vice president now directly owns 59,540 shares in the company, valued at approximately $14,862,374.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 55,815 shares of company stock worth $14,384,135. Company insiders own 20.90% of the company’s stock.
Tesla Stock Performance
Shares of Tesla stock opened at $265.28 on Tuesday. Tesla, Inc. has a 52 week low of $101.81 and a 52 week high of $313.80. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.07 and a current ratio of 1.59. The stock has a market capitalization of $842.00 billion, a price-to-earnings ratio of 75.15, a PEG ratio of 4.28 and a beta of 2.09. The firm has a fifty day moving average of $255.83 and a two-hundred day moving average of $220.81.
Tesla (NASDAQ:TSLA – Get Free Report) last released its earnings results on Wednesday, July 19th. The electric vehicle producer reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.22. The firm had revenue of $24.93 billion for the quarter, compared to analyst estimates of $24.22 billion. Tesla had a return on equity of 26.10% and a net margin of 12.97%. The company’s quarterly revenue was up 47.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.65 earnings per share. As a group, equities research analysts predict that Tesla, Inc. will post 2.94 EPS for the current 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. It 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, retail merchandise, and vehicle insurance services.
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