Gleason Group Inc. Trims Position in Tesla, Inc. $TSLA

Gleason Group Inc. trimmed its position in Tesla, Inc. (NASDAQ:TSLA) by 16.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,690 shares of the electric vehicle producer’s stock after selling 544 shares during the quarter. Gleason Group Inc.’s holdings in Tesla were worth $855,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. KWB Wealth boosted its holdings in Tesla by 2.4% in the 2nd quarter. KWB Wealth now owns 1,381 shares of the electric vehicle producer’s stock valued at $439,000 after purchasing an additional 33 shares during the period. Conrad Siegel Investment Advisors Inc. raised its position in shares of Tesla by 3.6% in the second quarter. Conrad Siegel Investment Advisors Inc. now owns 976 shares of the electric vehicle producer’s stock worth $310,000 after buying an additional 34 shares in the last quarter. Guyasuta Investment Advisors Inc. boosted its stake in Tesla by 0.7% during 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 buying an additional 34 shares during the period. Kelly Financial Services LLC grew its position in Tesla by 2.7% during the second quarter. Kelly Financial Services LLC now owns 1,331 shares of the electric vehicle producer’s stock worth $423,000 after buying an additional 35 shares in the last quarter. Finally, Acorn Wealth Advisors LLC increased its stake in Tesla by 1.9% in the 1st quarter. Acorn Wealth Advisors LLC now owns 1,901 shares of the electric vehicle producer’s stock worth $493,000 after acquiring an additional 36 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. William Blair reiterated a “market perform” rating on shares of Tesla in a research report on Friday, September 5th. The Goldman Sachs Group boosted their price target on shares of Tesla from $300.00 to $395.00 and gave the stock a “neutral” rating in a research note on Thursday, September 18th. Robert W. Baird upgraded shares of Tesla from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $320.00 to $548.00 in a research report on Friday, September 19th. Daiwa Capital Markets reiterated a “neutral” rating on shares of Tesla in a research report on Sunday, July 27th. Finally, Mizuho raised their price target on Tesla from $375.00 to $450.00 and gave the company an “outperform” rating in a research report on Tuesday, September 23rd. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, twelve have given a Hold rating and nine have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $337.15.

Tesla Stock Up 0.3%

Shares of NASDAQ:TSLA opened at $444.72 on Wednesday. The stock has a market capitalization of $1.48 trillion, a P/E ratio of 257.06, a price-to-earnings-growth ratio of 15.46 and a beta of 2.06. The stock’s 50-day moving average price is $356.59 and its 200-day moving average price is $317.64. 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, Inc. has a 12-month low of $212.11 and a 12-month high of $488.54.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.03). The company had revenue of $22.50 billion for the quarter, compared to analysts’ expectations of $23.18 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. The company’s revenue was down 11.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.52 earnings per share. On average, equities analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Transactions at Tesla

In related news, SVP Xiaotong Zhu sold 20,000 shares of Tesla stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $363.75, for a total value of $7,275,000.00. Following the transaction, the senior vice president directly owned 47,600 shares of the company’s stock, valued at $17,314,500. The trade was a 29.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director James R. Murdoch sold 120,000 shares of the stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $350.29, for a total transaction of $42,034,800.00. Following the sale, the director directly owned 697,031 shares of the company’s stock, valued at $244,162,988.99. The trade was a 14.69% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 208,606 shares of company stock worth $77,360,462. Insiders own 19.90% of the company’s stock.

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.