Twin Peaks Wealth Advisors LLC Sells 2,809 Shares of Tesla, Inc. $TSLA

Twin Peaks Wealth Advisors LLC reduced its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 31.1% in the second quarter, HoldingsChannel reports. The firm owned 6,219 shares of the electric vehicle producer’s stock after selling 2,809 shares during the quarter. Twin Peaks Wealth Advisors LLC’s holdings in Tesla were worth $2,120,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in TSLA. Brighton Jones LLC increased its position in Tesla by 11.8% in the fourth quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer’s stock worth $35,509,000 after buying an additional 9,293 shares in the last quarter. Revolve Wealth Partners LLC lifted its holdings in Tesla by 21.2% during the fourth quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer’s stock valued at $2,147,000 after purchasing an additional 931 shares in the last quarter. Bison Wealth LLC boosted its position in shares of Tesla by 52.2% in the fourth quarter. Bison Wealth LLC now owns 10,368 shares of the electric vehicle producer’s stock worth $4,187,000 after purchasing an additional 3,558 shares during the period. Plan Group Financial LLC bought a new stake in shares of Tesla during the 1st quarter valued at $218,000. Finally, Thoroughbred Financial Services LLC lifted its stake in shares of Tesla by 7.4% during the 1st quarter. Thoroughbred Financial Services LLC now owns 26,791 shares of the electric vehicle producer’s stock valued at $6,943,000 after buying an additional 1,856 shares in the last quarter. Institutional investors own 66.20% of the company’s stock.

Insiders Place Their Bets

In other news, 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 owned 9,856 shares in the company, valued at approximately $3,473,057.28. The trade was a 20.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Xiaotong Zhu sold 20,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the senior vice president directly owned 47,600 shares in the company, valued at approximately $17,314,500. This represents a 29.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 82,606 shares of company stock valued at $33,554,102 over the last ninety days. 19.90% of the stock is owned by insiders.

Tesla Trading Down 0.2%

TSLA stock opened at $429.24 on Wednesday. The firm has a fifty day moving average price of $433.94 and a 200 day moving average price of $370.52. Tesla, Inc. has a fifty-two week low of $214.25 and a fifty-two week high of $488.54. The firm has a market cap of $1.43 trillion, a PE ratio of 286.16, a price-to-earnings-growth ratio of 16.84 and a beta of 2.06. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.67 and a current ratio of 2.07.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Thursday, October 23rd. The electric vehicle producer reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.02. The business had revenue of $28.10 billion during the quarter, compared to analysts’ expectations of $24.98 billion. Tesla had a net margin of 5.51% and a return on equity of 6.61%. The business’s revenue was up 11.6% on a year-over-year basis. During the same period last year, the company posted $0.72 EPS. Sell-side analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on TSLA shares. Melius initiated coverage on Tesla in a report on Monday, October 13th. They set a “buy” rating and a $520.00 price target on the stock. Canaccord Genuity Group decreased their target price on Tesla from $490.00 to $482.00 and set a “buy” rating on the stock in a research note on Thursday, October 23rd. Industrial Alliance Securities set a $300.00 price target on Tesla in a report on Monday, October 13th. DZ Bank reaffirmed a “sell” rating on shares of Tesla in a report on Thursday, October 23rd. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Tesla in a report on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, thirteen have issued a Hold rating and nine have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $398.92.

Tesla 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.