Wealth Alliance Sells 5,582 Shares of Tesla, Inc. (NASDAQ:TSLA)

Wealth Alliance lowered its stake in Tesla, Inc. (NASDAQ:TSLA) by 40.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,303 shares of the electric vehicle producer’s stock after selling 5,582 shares during the period. Wealth Alliance’s holdings in Tesla were worth $1,643,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Bank & Trust Co bought a new stake in Tesla in the second quarter valued at $25,000. Valley Wealth Managers Inc. purchased a new position in Tesla during the second quarter valued at $26,000. OLD Point Trust & Financial Services N A purchased a new position in Tesla during the fourth quarter valued at $37,000. Kessler Investment Group LLC lifted its position in Tesla by 35.9% during the second quarter. Kessler Investment Group LLC now owns 193 shares of the electric vehicle producer’s stock valued at $38,000 after buying an additional 51 shares during the period. Finally, Aspect Partners LLC lifted its position in Tesla by 121.3% during the second quarter. Aspect Partners LLC now owns 208 shares of the electric vehicle producer’s stock valued at $41,000 after buying an additional 114 shares during the period. Institutional investors own 66.20% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Canaccord Genuity Group reissued a “buy” rating and set a $254.00 price objective on shares of Tesla in a research report on Friday, September 13th. Piper Sandler reissued an “overweight” rating and set a $300.00 price objective on shares of Tesla in a research report on Monday, August 19th. Morgan Stanley reissued an “overweight” rating and set a $310.00 price objective on shares of Tesla in a research report on Thursday, September 5th. KGI Securities reaffirmed a “neutral” rating and issued a $236.00 price target on shares of Tesla in a research report on Thursday, July 25th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $295.00 price target on shares of Tesla in a research report on Tuesday, September 10th. Nine investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $209.60.

Insider Activity at Tesla

In related news, Director Robyn M. Denholm sold 66,364 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the completion of the transaction, the director now directly owns 85,000 shares in the company, valued at approximately $18,696,600. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, Director Robyn M. Denholm sold 66,364 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $219.96, for a total value of $14,597,425.44. Following the transaction, the director now directly owns 85,000 shares of the company’s stock, valued at approximately $18,696,600. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Xiaotong Zhu sold 297 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the transaction, the senior vice president now directly owns 67,491 shares in the company, valued at $14,967,479.07. The disclosure for this sale can be found here. 25.10% of the stock is currently owned by corporate insiders.

Tesla Trading Up 0.5 %

Shares of NASDAQ:TSLA opened at $227.87 on Wednesday. The stock has a 50 day moving average of $222.16 and a 200 day moving average of $194.93. The company has a market cap of $726.72 billion, a PE ratio of 58.13, a price-to-earnings-growth ratio of 6.08 and a beta of 2.29. The company has a current ratio of 1.91, a quick ratio of 1.40 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $273.93.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). The company had revenue of $25.50 billion for the quarter, compared to the consensus estimate of $24.38 billion. Tesla had a net margin of 13.00% and a return on equity of 10.41%. The company’s revenue was up 2.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.78 earnings per share. As a group, equities research analysts expect that Tesla, Inc. will post 1.75 EPS for the current year.

About Tesla

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.