Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Gradient Investments LLC

Gradient Investments LLC reduced its position in Tesla, Inc. (NASDAQ:TSLA) by 36.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,790 shares of the electric vehicle producer’s stock after selling 3,330 shares during the quarter. Gradient Investments LLC’s holdings in Tesla were worth $1,516,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of TSLA. Norges Bank acquired a new stake in shares of Tesla in the fourth quarter valued at approximately $3,459,540,000. Moneta Group Investment Advisors LLC boosted its holdings in shares of Tesla by 180,125.4% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 26,851,778 shares of the electric vehicle producer’s stock valued at $3,307,602,000 after acquiring an additional 26,836,879 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Tesla by 203.9% in the third quarter. Bank of New York Mellon Corp now owns 20,208,699 shares of the electric vehicle producer’s stock valued at $5,360,358,000 after acquiring an additional 13,558,882 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of Tesla by 52.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 26,224,189 shares of the electric vehicle producer’s stock valued at $5,440,471,000 after acquiring an additional 9,034,938 shares during the period. Finally, Morgan Stanley boosted its holdings in shares of Tesla by 26.3% in the fourth quarter. Morgan Stanley now owns 25,427,168 shares of the electric vehicle producer’s stock valued at $3,132,119,000 after acquiring an additional 5,292,464 shares during the period. 41.87% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, SVP Xiaotong Zhu sold 1,065 shares of Tesla stock in a transaction on Wednesday, September 6th. The stock was 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 of the company’s stock, valued at $14,862,374.80. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $250.02, for a total value of $1,000,080.00. Following the transaction, the chief financial officer now owns 104,504 shares in the company, valued at $26,128,090.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Xiaotong Zhu sold 1,065 shares of Tesla 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 transaction, the senior vice president now owns 59,540 shares in the company, valued at approximately $14,862,374.80. The disclosure for this sale can be found here. Insiders sold a total of 55,815 shares of company stock valued at $14,384,135 over the last quarter. Company insiders own 25.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on TSLA shares. Deutsche Bank Aktiengesellschaft upped their price target on Tesla from $260.00 to $270.00 and gave the stock a “buy” rating in a research note on Monday, July 3rd. Robert W. Baird upped their price target on Tesla from $252.00 to $300.00 and gave the stock an “outperform” rating in a research note on Monday, July 17th. The Goldman Sachs Group upped their price target on Tesla from $248.00 to $275.00 and gave the stock a “neutral” rating in a research note on Monday, July 3rd. JPMorgan Chase & Co. upped their price target on Tesla from $115.00 to $120.00 and gave the stock an “underweight” rating in a research note on Monday, July 3rd. Finally, Mizuho upped their price target on Tesla from $300.00 to $330.00 in a research note on Thursday, July 20th. Six research analysts have rated the stock with a sell rating, eighteen have given a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, Tesla has a consensus rating of “Hold” and a consensus price target of $239.43.

Tesla Price Performance

Shares of NASDAQ:TSLA opened at $274.39 on Monday. The company has a market cap of $870.91 billion, a P/E ratio of 77.73, a P/E/G ratio of 4.30 and a beta of 2.09. The company has a quick ratio of 1.07, a current ratio of 1.59 and a debt-to-equity ratio of 0.02. Tesla, Inc. has a 52 week low of $101.81 and a 52 week high of $313.80. The business has a fifty day simple moving average of $255.83 and a 200-day simple moving average of $220.81.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, July 19th. The electric vehicle producer reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.22. The business had revenue of $24.93 billion during the quarter, compared to the consensus estimate of $24.22 billion. Tesla had a return on equity of 26.10% and a net margin of 12.97%. The business’s revenue for the quarter was up 47.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.65 earnings per share. Equities research analysts forecast 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.