Laidlaw Wealth Management LLC Sells 634 Shares of Tesla, Inc. $TSLA

Laidlaw Wealth Management LLC trimmed its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 10.9% in the 2nd quarter, Holdings Channel reports. The firm owned 5,161 shares of the electric vehicle producer’s stock after selling 634 shares during the period. Tesla accounts for approximately 4.7% of Laidlaw Wealth Management LLC’s portfolio, making the stock its 5th largest position. Laidlaw Wealth Management LLC’s holdings in Tesla were worth $1,639,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in TSLA. Vanguard Group Inc. raised its position in shares of Tesla by 1.8% in the second quarter. Vanguard Group Inc. now owns 251,390,681 shares of the electric vehicle producer’s stock valued at $79,856,764,000 after buying an additional 4,502,976 shares during the last quarter. Geode Capital Management LLC grew its stake in Tesla by 2.0% during the 2nd quarter. Geode Capital Management LLC now owns 64,767,993 shares of the electric vehicle producer’s stock valued at $20,480,477,000 after acquiring an additional 1,269,304 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in Tesla by 322.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer’s stock valued at $6,891,201,000 after acquiring an additional 20,291,139 shares during the last quarter. Legal & General Group Plc lifted its stake in Tesla by 5.9% in the 2nd quarter. Legal & General Group Plc now owns 20,225,098 shares of the electric vehicle producer’s stock worth $6,424,705,000 after purchasing an additional 1,134,678 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Tesla by 2.2% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 18,576,698 shares of the electric vehicle producer’s stock worth $5,901,074,000 after purchasing an additional 401,757 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on TSLA shares. HSBC reaffirmed a “reduce” rating on shares of Tesla in a report on Monday, November 17th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Tesla in a research note on Thursday, October 30th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Tesla from $440.00 to $470.00 and gave the company a “buy” rating in a research report on Monday, November 3rd. Baird R W upgraded shares of Tesla from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 19th. Finally, President Capital lifted their target price on shares of Tesla from $373.00 to $529.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, twelve have issued a Hold rating and ten have issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $394.03.

Tesla Stock Up 1.7%

NASDAQ:TSLA opened at $426.58 on Friday. Tesla, Inc. has a 52 week low of $214.25 and a 52 week high of $488.54. The stock’s fifty day moving average is $433.87 and its two-hundred day moving average is $368.17. The stock has a market capitalization of $1.42 trillion, a price-to-earnings ratio of 284.39, a price-to-earnings-growth ratio of 16.84 and a beta of 2.06. The company has a quick ratio of 1.67, a current ratio of 2.07 and a debt-to-equity ratio of 0.07.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.02. Tesla had a return on equity of 6.61% and a net margin of 5.51%.The firm had revenue of $28.10 billion for the quarter, compared to the consensus estimate of $24.98 billion. During the same quarter in the previous year, the business earned $0.72 EPS. The company’s quarterly revenue was up 11.6% compared to the same quarter last year. Research analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Transactions at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 20,000 shares of the stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the sale, the senior vice president directly owned 47,600 shares in the company, valued at $17,314,500. This represents a 29.59% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director James R. Murdoch sold 60,000 shares of the firm’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 transaction of $25,360,800.00. Following the completion of the transaction, the director directly owned 637,031 shares of the company’s stock, valued at $269,260,263.08. This represents a 8.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 82,606 shares of company stock valued at $33,554,102. 19.90% of the stock is currently owned by corporate insiders.

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.