HCR Wealth Advisors Trims Stake in Tesla Inc (NASDAQ:TSLA)

HCR Wealth Advisors lowered its stake in shares of Tesla Inc (NASDAQ:TSLA) by 4.3% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 1,013 shares of the electric vehicle producer’s stock after selling 45 shares during the period. HCR Wealth Advisors’ holdings in Tesla were worth $1,131,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. North Star Investment Management Corp. increased its stake in shares of Tesla by 5.8% in the second quarter. North Star Investment Management Corp. now owns 147 shares of the electric vehicle producer’s stock worth $159,000 after purchasing an additional 8 shares in the last quarter. American Research & Management Co. increased its stake in shares of Tesla by 5.8% in the second quarter. American Research & Management Co. now owns 145 shares of the electric vehicle producer’s stock worth $157,000 after purchasing an additional 8 shares in the last quarter. Main Street Research LLC increased its stake in shares of Tesla by 1.5% in the second quarter. Main Street Research LLC now owns 537 shares of the electric vehicle producer’s stock worth $580,000 after purchasing an additional 8 shares in the last quarter. Acorn Financial Advisory Services Inc. ADV increased its stake in shares of Tesla by 2.2% in the second quarter. Acorn Financial Advisory Services Inc. ADV now owns 412 shares of the electric vehicle producer’s stock worth $445,000 after purchasing an additional 9 shares in the last quarter. Finally, PFG Advisors increased its stake in shares of Tesla by 2.3% in the second quarter. PFG Advisors now owns 406 shares of the electric vehicle producer’s stock worth $627,000 after purchasing an additional 9 shares in the last quarter. Institutional investors own 50.37% of the company’s stock.

In other Tesla news, CFO Zachary Kirkhorn sold 150 shares of the company’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $827.00, for a total transaction of $124,050.00. Following the completion of the transaction, the chief financial officer now directly owns 11,132 shares in the company, valued at $9,206,164. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Andrew D. Baglino sold 2,000 shares of the company’s stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $785.75, for a total transaction of $1,571,500.00. Following the transaction, the senior vice president now owns 6,145 shares of the company’s stock, valued at $4,828,433.75. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 23,910 shares of company stock valued at $24,705,348. Company insiders own 23.00% of the company’s stock.

A number of analysts have recently issued reports on the stock. Wedbush increased their price objective on shares of Tesla from $1,000.00 to $1,250.00 and gave the stock a “neutral” rating in a research note on Thursday, July 2nd. JPMorgan Chase & Co. set a $295.00 target price on shares of Tesla and gave the company a “sell” rating in a research note on Wednesday, July 22nd. Cfra cut shares of Tesla to a “sell” rating and set a $1,100.00 target price for the company. in a research note on Friday, July 17th. Deutsche Bank raised their target price on shares of Tesla from $1,000.00 to $1,500.00 and gave the company a “hold” rating in a research note on Thursday, July 23rd. Finally, Sanford C. Bernstein reaffirmed a “sell” rating and set a $900.00 target price on shares of Tesla in a research note on Wednesday. Thirteen investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $846.94.

NASDAQ TSLA traded down $56.73 on Friday, hitting $1,430.76. 12,246,960 shares of the company’s stock traded hands, compared to its average volume of 16,794,058. The company has a current ratio of 1.25, a quick ratio of 0.87 and a debt-to-equity ratio of 0.98. Tesla Inc has a 1-year low of $211.00 and a 1-year high of $1,794.99. The firm’s 50-day moving average price is $1,259.00 and its two-hundred day moving average price is $833.62. The firm has a market capitalization of $265.22 billion, a PE ratio of 745.19, a P/E/G ratio of 25.76 and a beta of 1.19.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, July 22nd. The electric vehicle producer reported $2.18 EPS for the quarter, beating the consensus estimate of ($2.35) by $4.53. Tesla had a net margin of 1.43% and a return on equity of 4.19%. The business had revenue of $6.04 billion during the quarter, compared to analysts’ expectations of $4.96 billion. During the same period in the previous year, the business posted ($1.12) EPS. On average, research analysts anticipate that Tesla Inc will post 1.65 earnings per share for the current fiscal year.

Tesla Profile

Tesla, Inc designs, develops, manufactures, and sells electric vehicles, and energy generation and storage systems in the United States, China, Netherlands, Norway, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers sedans and sport utility vehicles.

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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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