Good Life Advisors LLC Sells 730 Shares of Tesla, Inc. $TSLA

Good Life Advisors LLC trimmed its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 3.5% in the second quarter, HoldingsChannel reports. The firm owned 19,856 shares of the electric vehicle producer’s stock after selling 730 shares during the quarter. Good Life Advisors LLC’s holdings in Tesla were worth $6,307,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also modified their holdings of TSLA. Siren L.L.C. acquired a new stake in Tesla during the first quarter worth about $2,332,000. Zuckerman Investment Group LLC raised its holdings in shares of Tesla by 6.9% during the 1st quarter. Zuckerman Investment Group LLC now owns 12,748 shares of the electric vehicle producer’s stock worth $3,304,000 after buying an additional 826 shares in the last quarter. Keystone Global Partners LLC acquired a new stake in Tesla in the first quarter valued at about $594,000. Strs Ohio bought a new position in Tesla in the first quarter valued at about $205,495,000. Finally, AustralianSuper Pty Ltd lifted its holdings in shares of Tesla by 1,823.0% in the second quarter. AustralianSuper Pty Ltd now owns 68,325 shares of the electric vehicle producer’s stock worth $21,704,000 after acquiring an additional 64,772 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

Insider Buying and Selling at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 20,000 shares of Tesla stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the completion of the sale, the senior vice president directly owned 47,600 shares in the company, valued at $17,314,500. The trade was a 29.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Vaibhav Taneja sold 2,606 shares of the firm’s stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $352.38, for a total value of $918,302.28. Following the sale, the chief financial officer owned 9,856 shares in the company, valued at $3,473,057.28. The trade was a 20.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 202,606 shares of company stock valued at $75,588,902 in the last 90 days. 19.90% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Royal Bank Of Canada reissued an “outperform” rating and issued a $500.00 price objective on shares of Tesla in a research note on Thursday, October 23rd. Melius started coverage on Tesla in a research report on Monday, October 13th. They issued a “buy” rating and a $520.00 target price for the company. TD Cowen boosted their price target on Tesla from $374.00 to $509.00 and gave the stock a “buy” rating in a report on Thursday, October 9th. JPMorgan Chase & Co. boosted their target price on shares of Tesla from $115.00 to $150.00 in a report on Friday, October 3rd. Finally, Piper Sandler lifted their price target on shares of Tesla from $400.00 to $500.00 and gave the stock an “overweight” rating in a report on Monday, September 22nd. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, thirteen have given a Hold rating and ten have given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $391.08.

Tesla Trading Down 2.1%

TSLA opened at $421.49 on Thursday. Tesla, Inc. has a fifty-two week low of $214.25 and a fifty-two week high of $488.54. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.07 and a quick ratio of 1.67. The company’s 50-day moving average is $427.33 and its 200 day moving average is $359.18. The firm has a market capitalization of $1.40 trillion, a PE ratio of 281.00, a P/E/G ratio of 16.84 and a beta of 2.06.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share (EPS) 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 period in the prior year, the firm posted $0.72 EPS. The firm’s quarterly revenue was up 11.6% compared to the same quarter last year. As a group, research analysts predict 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.