Tesla, Inc. $TSLA Shares Sold by Bingham Private Wealth LLC

Bingham Private Wealth LLC reduced its stake in Tesla, Inc. (NASDAQ:TSLA) by 13.6% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 2,730 shares of the electric vehicle producer’s stock after selling 429 shares during the quarter. Bingham Private Wealth LLC’s holdings in Tesla were worth $867,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in TSLA. KWB Wealth lifted its holdings in Tesla by 2.4% during the 2nd quarter. KWB Wealth now owns 1,381 shares of the electric vehicle producer’s stock worth $439,000 after buying an additional 33 shares in the last quarter. Conrad Siegel Investment Advisors Inc. lifted its holdings in Tesla by 3.6% during the 2nd 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. lifted its holdings in Tesla by 0.7% during the 2nd quarter. Guyasuta Investment Advisors Inc. now owns 5,107 shares of the electric vehicle producer’s stock worth $1,622,000 after buying an additional 34 shares in the last quarter. Kelly Financial Services LLC lifted its holdings in Tesla by 2.7% during the 2nd 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 lifted its holdings in Tesla by 1.9% during the 1st quarter. Acorn Wealth Advisors LLC now owns 1,901 shares of the electric vehicle producer’s stock worth $493,000 after buying an additional 36 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Tesla news, Director James R. Murdoch sold 120,000 shares of the firm’s 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 transaction, the director directly owned 697,031 shares of the company’s stock, valued at approximately $244,162,988.99. This trade represents a 14.69% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Xiaotong Zhu sold 20,000 shares of the firm’s stock in a transaction on 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 transaction, 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 disclosure for this sale can be found here. In the last three months, insiders have sold 202,606 shares of company stock valued at $75,588,902. Insiders own 19.90% of the company’s stock.

Tesla Trading Down 4.4%

NASDAQ TSLA opened at $433.09 on Wednesday. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55. The firm’s fifty day moving average price is $368.81 and its 200 day moving average price is $324.77. The company has a market capitalization of $1.44 trillion, a price-to-earnings ratio of 250.34, a price-to-earnings-growth ratio of 15.75 and a beta of 2.08. Tesla, Inc. has a 12 month low of $212.11 and a 12 month high of $488.54.

Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 EPS for the quarter, missing analysts’ consensus estimates 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 net margin of 6.54% and a return on equity of 7.98%. The company’s quarterly revenue was down 11.8% on a year-over-year basis. During the same period last year, the business earned $0.52 earnings per share. On average, sell-side analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

TSLA has been the topic of a number of research reports. Canaccord Genuity Group increased their target price on shares of Tesla from $333.00 to $490.00 and gave the stock a “buy” rating in a report on Tuesday, September 30th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Tesla from $345.00 to $435.00 and gave the company a “buy” rating in a research report on Friday, September 26th. Needham & Company LLC reissued a “hold” rating on shares of Tesla in a research report on Thursday, July 24th. Guggenheim reissued a “sell” rating and issued a $175.00 price objective on shares of Tesla in a research report on Wednesday, July 23rd. Finally, HSBC increased their price objective on shares of Tesla from $120.00 to $127.00 in a research report on Monday, September 29th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, thirteen have given a Hold rating and eight have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $344.40.

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.