Liberty Wealth Management LLC Sells 5,376 Shares of Tesla, Inc. $TSLA

Liberty Wealth Management LLC cut its stake in Tesla, Inc. (NASDAQ:TSLA) by 25.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,687 shares of the electric vehicle producer’s stock after selling 5,376 shares during the quarter. Liberty Wealth Management LLC’s holdings in Tesla were worth $4,983,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Arcadia Investment Management Corp MI purchased a new stake in shares of Tesla during the first quarter valued at about $27,000. Chelsea Counsel Co. raised its stake in shares of Tesla by 59.7% during 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 in the last quarter. Centennial Bank AR lifted its position in Tesla by 833.3% during the first quarter. Centennial Bank AR now owns 112 shares of the electric vehicle producer’s stock valued at $29,000 after acquiring an additional 100 shares during the last quarter. LGT Financial Advisors LLC acquired a new stake in Tesla in the second quarter valued at approximately $29,000. Finally, Compass Wealth Management LLC grew its holdings in Tesla by 360.0% in the first quarter. Compass Wealth Management LLC now owns 115 shares of the electric vehicle producer’s stock worth $30,000 after purchasing an additional 90 shares during the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Tesla Price Performance

Shares of NASDAQ TSLA opened at $433.72 on Monday. Tesla, Inc. has a 52 week low of $214.25 and a 52 week high of $488.54. The business’s 50 day moving average price is $398.06 and its 200 day moving average price is $341.21. The company has a quick ratio of 1.67, a current ratio of 2.07 and a debt-to-equity ratio of 0.07. The firm has a market cap of $1.44 trillion, a P/E ratio of 289.15, a P/E/G ratio of 15.45 and a beta of 2.08.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, October 22nd. The electric vehicle producer reported $0.50 EPS for the quarter, beating the consensus estimate of $0.48 by $0.02. The business had revenue of $28.10 billion during the quarter, compared to analysts’ expectations of $24.98 billion. Tesla had a net margin of 5.51% and a return on equity of 6.61%. The business’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.72 EPS. On average, sell-side analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Stifel Nicolaus set a $483.00 price objective on Tesla and gave the stock a “buy” rating in a research report on Wednesday, October 8th. Robert W. Baird upgraded Tesla from a “neutral” rating to an “outperform” rating and increased their price target for the company from $320.00 to $548.00 in a research note on Friday, September 19th. The Goldman Sachs Group dropped their price target on Tesla from $425.00 to $400.00 and set a “neutral” rating on the stock in a research note on Thursday. Dbs Bank upped their price objective on shares of Tesla from $300.00 to $450.00 in a report on Wednesday, September 17th. Finally, Cantor Fitzgerald set a $510.00 target price on shares of Tesla in a research note on Thursday. One investment analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, twelve have given a Hold rating and eleven have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $381.00.

Insider Activity at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 2,606 shares of the company’s stock in a transaction on Monday, September 8th. The shares were sold at an average price of $352.38, for a total value of $918,302.28. Following the sale, the chief financial officer directly owned 9,856 shares of the company’s stock, valued at approximately $3,473,057.28. This represents a 20.91% 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 this link. Also, Director James R. Murdoch sold 120,000 shares of the stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $350.29, for a total value of $42,034,800.00. Following the sale, the director directly owned 697,031 shares in the company, valued at $244,162,988.99. This represents a 14.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 202,606 shares of company stock worth $75,588,902 over the last three months. Company insiders own 19.90% of the company’s stock.

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.