Wealthcare Capital Management LLC Lowers Holdings in Tesla, Inc. $TSLA

Wealthcare Capital Management LLC lowered its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 40.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,113 shares of the electric vehicle producer’s stock after selling 747 shares during the period. Wealthcare Capital Management LLC’s holdings in Tesla were worth $354,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in TSLA. Wealthcare Advisory Partners LLC grew its holdings in Tesla by 28.6% during the 2nd quarter. Wealthcare Advisory Partners LLC now owns 20,780 shares of the electric vehicle producer’s stock worth $6,601,000 after acquiring an additional 4,626 shares in the last quarter. BridgePort Financial Solutions LLC increased its holdings in Tesla by 35.8% during the second quarter. BridgePort Financial Solutions LLC now owns 1,469 shares of the electric vehicle producer’s stock valued at $467,000 after buying an additional 387 shares during the period. Compass Financial Group INC SD purchased a new position in Tesla during the second quarter valued at approximately $239,000. Firethorn Wealth Partners LLC lifted its holdings in Tesla by 33.1% during the second quarter. Firethorn Wealth Partners LLC now owns 2,364 shares of the electric vehicle producer’s stock worth $751,000 after buying an additional 588 shares during the period. Finally, Bay Harbor Wealth Management LLC lifted its holdings in Tesla by 5.5% during the second quarter. Bay Harbor Wealth Management LLC now owns 1,059 shares of the electric vehicle producer’s stock worth $336,000 after buying an additional 55 shares during the period. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Stock Down 1.4%

Shares of TSLA stock opened at $429.83 on Monday. Tesla, Inc. has a twelve month low of $212.11 and a twelve month high of $488.54. The stock has a market cap of $1.43 trillion, a P/E ratio of 248.46, a P/E/G ratio of 14.93 and a beta of 2.08. The stock has a 50 day moving average of $364.02 and a 200 day moving average of $322.58. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, July 23rd. The electric vehicle producer reported $0.40 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.03). The company had revenue of $22.50 billion during the quarter, compared to analysts’ expectations of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%.The company’s revenue for the quarter was down 11.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.52 EPS. As a group, sell-side analysts expect that Tesla, Inc. will post 2.56 EPS for the current year.

Analyst Upgrades and Downgrades

TSLA has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft boosted their price target on Tesla from $345.00 to $435.00 and gave the stock a “buy” rating in a research report on Friday, September 26th. Daiwa Capital Markets reiterated a “neutral” rating on shares of Tesla in a report on Sunday, July 27th. Benchmark restated a “buy” rating and issued a $475.00 price target (up from $350.00) on shares of Tesla in a report on Thursday, June 26th. Mizuho boosted their price objective on shares of Tesla from $375.00 to $450.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 23rd. Finally, Wedbush increased their target price on shares of Tesla from $500.00 to $600.00 and gave the company an “outperform” rating in a research report on Friday, September 26th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, thirteen have assigned a Hold rating and eight have given a Sell rating to the company. According to MarketBeat.com, Tesla has a consensus rating of “Hold” and an average target price of $343.43.

Insider Buying and Selling at Tesla

In other Tesla news, Director James R. Murdoch sold 120,000 shares of Tesla stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $350.29, for a total value of $42,034,800.00. Following the completion of the transaction, the director owned 697,031 shares of the company’s stock, valued at approximately $244,162,988.99. The trade was a 14.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Xiaotong Zhu sold 20,000 shares of the stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $363.75, for a total transaction 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. The trade was a 29.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 204,606 shares of company stock valued at $76,188,902. Corporate insiders own 19.90% of the company’s stock.

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.