Tesla, Inc. $TSLA Shares Sold by Abundance Wealth Counselors

Abundance Wealth Counselors lowered its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 2.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,846 shares of the electric vehicle producer’s stock after selling 138 shares during the period. Abundance Wealth Counselors’ holdings in Tesla were worth $1,787,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of TSLA. Cherry Tree Wealth Management LLC lifted its stake in shares of Tesla by 86.3% in the 1st quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer’s stock worth $25,000 after acquiring an additional 44 shares during the period. First PREMIER Bank lifted its stake in shares of Tesla by 79.2% in the 1st quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer’s stock worth $25,000 after acquiring an additional 42 shares during the period. Newton One Investments LLC lifted its stake in shares of Tesla by 250.0% in the 1st quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer’s stock worth $27,000 after acquiring an additional 75 shares during the period. Arcadia Investment Management Corp MI acquired a new stake in shares of Tesla in the 1st quarter worth $27,000. Finally, Chelsea Counsel Co. lifted its stake in shares of Tesla by 59.7% in the 1st quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock worth $28,000 after acquiring an additional 40 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on TSLA shares. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Tesla from $345.00 to $435.00 and gave the company a “buy” rating in a research note on Friday, September 26th. Wedbush raised their price objective on shares of Tesla from $500.00 to $600.00 and gave the company an “outperform” rating in a research note on Friday, September 26th. Daiwa Capital Markets reiterated a “neutral” rating on shares of Tesla in a research note on Sunday, July 27th. 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 note on Friday, September 19th. Finally, Piper Sandler raised their price objective on shares of Tesla from $400.00 to $500.00 and gave the company an “overweight” rating in a research note on Monday, September 22nd. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, thirteen have assigned a Hold rating and eight have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $343.43.

Tesla Price Performance

Tesla stock opened at $429.83 on Friday. Tesla, Inc. has a 1 year low of $212.11 and a 1 year high of $488.54. The firm has a 50 day moving average price of $364.02 and a 200 day moving average price of $321.99. The company has a market cap of $1.43 trillion, a price-to-earnings ratio of 248.46, a PEG ratio of 14.93 and a beta of 2.08. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). Tesla had a net margin of 6.54% and a return on equity of 7.98%. The company had revenue of $22.50 billion during the quarter, compared to analysts’ expectations of $23.18 billion. During the same quarter in the previous year, the firm posted $0.52 earnings per share. Tesla’s revenue for the quarter was down 11.8% compared to the same quarter last year. Sell-side analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Activity at Tesla

In related news, Director James R. Murdoch sold 60,000 shares of the business’s stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $422.68, for a total value of $25,360,800.00. Following the completion of the sale, the director directly owned 637,031 shares in the company, valued at approximately $269,260,263.08. The trade was a 8.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Vaibhav Taneja sold 2,606 shares of the business’s stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $352.38, for a total transaction of $918,302.28. Following the completion of the sale, the chief financial officer owned 9,856 shares of the company’s stock, valued at approximately $3,473,057.28. The trade was a 20.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 208,606 shares of company stock worth $77,360,462. 19.90% of the stock is owned by company insiders.

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.