Strategic Financial Concepts LLC Decreases Stake in Tesla, Inc. $TSLA

Strategic Financial Concepts LLC lowered its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 5.9% in the second quarter, Holdings Channel reports. The firm owned 20,984 shares of the electric vehicle producer’s stock after selling 1,324 shares during the period. Tesla makes up about 0.9% of Strategic Financial Concepts LLC’s investment portfolio, making the stock its 21st biggest position. Strategic Financial Concepts LLC’s holdings in Tesla were worth $6,666,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. First Merchants Corp grew its holdings in shares of Tesla by 1.3% during the 2nd quarter. First Merchants Corp now owns 2,413 shares of the electric vehicle producer’s stock worth $767,000 after purchasing an additional 31 shares during the period. Alaska Wealth Advisors boosted its holdings in Tesla by 3.4% in the 2nd quarter. Alaska Wealth Advisors now owns 985 shares of the electric vehicle producer’s stock worth $313,000 after acquiring an additional 32 shares during the period. KWB Wealth grew its position in Tesla by 2.4% in the second quarter. KWB Wealth now owns 1,381 shares of the electric vehicle producer’s stock valued at $439,000 after acquiring an additional 33 shares in the last quarter. Conrad Siegel Investment Advisors Inc. grew its position in Tesla by 3.6% in the second quarter. Conrad Siegel Investment Advisors Inc. now owns 976 shares of the electric vehicle producer’s stock valued at $310,000 after acquiring an additional 34 shares in the last quarter. Finally, Guyasuta Investment Advisors Inc. grew its position in Tesla by 0.7% in the second quarter. Guyasuta Investment Advisors Inc. now owns 5,107 shares of the electric vehicle producer’s stock valued at $1,622,000 after acquiring an additional 34 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insiders Place Their Bets

In other Tesla news, CFO Vaibhav Taneja sold 2,606 shares of Tesla stock in a transaction on Monday, September 8th. The shares were 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 of the company’s stock, valued at $3,473,057.28. The trade was a 20.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Xiaotong Zhu sold 20,000 shares of the firm’s 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 completion of the transaction, the senior vice president 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 202,606 shares of company stock valued at $75,588,902 over the last 90 days. 19.90% of the stock is owned by company insiders.

Tesla Stock Up 3.7%

TSLA stock opened at $456.56 on Friday. Tesla, Inc. has a twelve month low of $214.25 and a twelve month high of $488.54. The company has a current ratio of 2.07, a quick ratio of 1.67 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $1.52 trillion, a P/E ratio of 304.37, a PEG ratio of 16.84 and a beta of 2.08. The firm has a 50 day simple moving average of $410.52 and a 200-day simple moving average of $348.12.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, October 22nd. The electric vehicle producer reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.02. Tesla had a net margin of 5.51% and a return on equity of 6.61%. The business had revenue of $28.10 billion during the quarter, compared to the consensus estimate of $24.98 billion. During the same quarter last year, the company earned $0.72 earnings per share. The business’s quarterly revenue was up 11.6% compared to the same quarter last year. On average, equities research analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on TSLA shares. BNP Paribas Exane started coverage on shares of Tesla in a report on Thursday, October 16th. They set an “underperform” rating and a $307.00 price target for the company. Stifel Nicolaus set a $483.00 price target on shares of Tesla and gave the company a “buy” rating in a report on Wednesday, October 8th. Morgan Stanley reaffirmed an “overweight” rating on shares of Tesla in a report on Wednesday, October 15th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $500.00 price target on shares of Tesla in a report on Thursday, October 23rd. Finally, Bank of America raised their price target on shares of Tesla from $341.00 to $471.00 and gave the company a “neutral” rating in a report on Wednesday. One analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, twelve have issued a Hold rating and eleven have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Tesla presently has a consensus rating of “Hold” and a consensus target price of $390.27.

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. 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.