Demars Financial Group LLC Sells 237,974 Shares of Tesla, Inc. $TSLA

Demars Financial Group LLC trimmed its position in Tesla, Inc. (NASDAQ:TSLA) by 99.5% in the second quarter, according to its most recent filing with the SEC. The fund owned 1,213 shares of the electric vehicle producer’s stock after selling 237,974 shares during the period. Demars Financial Group LLC’s holdings in Tesla were worth $385,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of TSLA. First Merchants Corp raised its position in Tesla by 1.3% during the 2nd quarter. First Merchants Corp now owns 2,413 shares of the electric vehicle producer’s stock worth $767,000 after purchasing an additional 31 shares during the last quarter. Alaska Wealth Advisors raised its position in Tesla by 3.4% during the 2nd quarter. Alaska Wealth Advisors now owns 985 shares of the electric vehicle producer’s stock worth $313,000 after purchasing an additional 32 shares during the last quarter. KWB Wealth raised its position 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 purchasing an additional 33 shares during the last quarter. Conrad Siegel Investment Advisors Inc. grew 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 acquiring an additional 34 shares during the period. Finally, Guyasuta Investment Advisors Inc. grew 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 acquiring an additional 34 shares during the period. 66.20% of the stock is currently owned by institutional investors.

Tesla Stock Performance

Shares of TSLA opened at $439.31 on Monday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04. The stock has a 50 day moving average price of $387.54 and a two-hundred day moving average price of $334.06. The firm has a market capitalization of $1.46 trillion, a P/E ratio of 253.94, a P/E/G ratio of 15.79 and a beta of 2.08. Tesla, Inc. has a 52 week low of $212.11 and a 52 week high of $488.54.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%.The business’s revenue for the quarter was down 11.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.52 earnings per share. Equities analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Vaibhav Taneja sold 2,606 shares of Tesla stock in a transaction on Monday, September 8th. The stock was sold at an average price of $352.38, for a total transaction of $918,302.28. Following the sale, the chief financial officer directly owned 9,856 shares in the company, valued at approximately $3,473,057.28. This trade represents a 20.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Xiaotong Zhu sold 20,000 shares of the business’s stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $363.75, for a total value of $7,275,000.00. Following the completion of the transaction, the senior vice president directly owned 47,600 shares in the company, valued at approximately $17,314,500. This represents a 29.59% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 202,606 shares of company stock valued at $75,588,902. Corporate insiders own 19.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Melius Research set a $520.00 price target on Tesla and gave the stock a “buy” rating in a report on Monday, October 13th. The Goldman Sachs Group increased their price target on Tesla from $395.00 to $425.00 and gave the stock a “neutral” rating in a report on Friday, October 3rd. Morgan Stanley reiterated an “overweight” rating on shares of Tesla in a report on Wednesday. Bank of America increased their price target on Tesla from $305.00 to $341.00 and gave the stock a “neutral” rating in a report on Monday, July 21st. Finally, Baird R W upgraded Tesla from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 19th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, twelve have assigned a Hold rating and ten have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Tesla has an average rating of “Hold” and a consensus target price of $363.54.

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.