Earned Wealth Advisors LLC Reduces Position in Tesla, Inc. $TSLA

Earned Wealth Advisors LLC cut its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 1.6% during the second quarter, Holdings Channel.com reports. The institutional investor owned 6,150 shares of the electric vehicle producer’s stock after selling 102 shares during the quarter. Earned Wealth Advisors LLC’s holdings in Tesla were worth $1,953,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Arcadia Investment Management Corp MI purchased a new stake in Tesla in the first quarter valued at approximately $27,000. Chelsea Counsel Co. boosted its holdings in shares of Tesla by 59.7% in the 1st quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock valued at $28,000 after acquiring an additional 40 shares during the last quarter. Centennial Bank AR boosted its holdings in shares of Tesla by 833.3% in the 1st quarter. Centennial Bank AR now owns 112 shares of the electric vehicle producer’s stock valued at $29,000 after acquiring an additional 100 shares during the last quarter. LGT Financial Advisors LLC purchased a new stake in shares of Tesla in the second quarter worth about $29,000. Finally, Compass Wealth Management LLC boosted its stake in shares of Tesla by 360.0% in the first quarter. Compass Wealth Management LLC now owns 115 shares of the electric vehicle producer’s stock worth $30,000 after buying an additional 90 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on TSLA. Royal Bank Of Canada restated an “outperform” rating and issued a $500.00 price objective on shares of Tesla in a research report on Thursday, October 23rd. Evercore ISI lowered their price target on shares of Tesla from $300.00 to $235.00 in a report on Friday, October 24th. DZ Bank reissued a “sell” rating on shares of Tesla in a report on Thursday, October 23rd. Robert W. Baird raised shares of Tesla from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $320.00 to $548.00 in a research note on Friday, September 19th. Finally, Cantor Fitzgerald set a $510.00 target price on shares of Tesla and gave the stock an “overweight” rating in a research note on Thursday, October 23rd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, twelve have issued a Hold rating and eleven have assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $388.51.

Insider Transactions at Tesla

In related 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 transaction of $918,302.28. Following the transaction, the chief financial officer owned 9,856 shares in the company, valued at approximately $3,473,057.28. This trade represents a 20.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Xiaotong Zhu sold 20,000 shares of Tesla stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $363.75, for a total value of $7,275,000.00. Following the transaction, the senior vice president owned 47,600 shares in the company, valued at approximately $17,314,500. This represents a 29.59% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 202,606 shares of company stock valued at $75,588,902. Corporate insiders own 19.90% of the company’s stock.

Tesla Trading Down 4.6%

Shares of TSLA stock opened at $440.10 on Friday. The stock’s fifty day moving average is $408.19 and its two-hundred day moving average is $346.05. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.67 and a current ratio of 2.07. The firm has a market capitalization of $1.46 trillion, a P/E ratio of 293.40, a PEG ratio of 16.84 and a beta of 2.08. Tesla, Inc. has a fifty-two week low of $214.25 and a fifty-two week high of $488.54.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, October 22nd. The electric vehicle producer reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.02. The company had revenue of $28.10 billion for the quarter, compared to analyst estimates of $24.98 billion. Tesla had a return on equity of 6.61% and a net margin of 5.51%.The firm’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.72 EPS. Research analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current fiscal 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.