Smartleaf Asset Management LLC Sells 3,028 Shares of Tesla, Inc. $TSLA

Smartleaf Asset Management LLC lessened its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 12.1% during the 1st quarter, Holdings Channel.com reports. The firm owned 21,929 shares of the electric vehicle producer’s stock after selling 3,028 shares during the period. Smartleaf Asset Management LLC’s holdings in Tesla were worth $5,779,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. True Wealth Design LLC lifted its stake in shares of Tesla by 79.5% during the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer’s stock valued at $28,000 after acquiring an additional 31 shares during the period. Navigoe LLC acquired a new position in shares of Tesla during the fourth quarter valued at $37,000. Cherry Tree Wealth Management LLC lifted its stake in shares of Tesla by 86.3% during the first quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer’s stock valued at $25,000 after acquiring an additional 44 shares during the period. First PREMIER Bank lifted its stake in shares of Tesla by 79.2% during the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer’s stock valued at $25,000 after acquiring an additional 42 shares during the period. Finally, Marshall & Sterling Wealth Advisors Inc. acquired a new position in shares of Tesla during the fourth quarter valued at $39,000. Institutional investors own 66.20% of the company’s stock.

Tesla Trading Up 6.2%

NASDAQ TSLA opened at $340.01 on Friday. Tesla, Inc. has a 12 month low of $202.59 and a 12 month high of $488.54. The stock has a 50-day simple moving average of $321.27 and a 200 day simple moving average of $303.60. The company has a market capitalization of $1.10 trillion, a PE ratio of 196.54, a P/E/G ratio of 11.13 and a beta of 2.33. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07.

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

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Argus reaffirmed a “hold” rating on shares of Tesla in a research note on Monday, June 9th. Guggenheim reaffirmed a “sell” rating and set a $175.00 price target on shares of Tesla in a research note on Wednesday, July 23rd. Daiwa Capital Markets reaffirmed a “neutral” rating on shares of Tesla in a research note on Sunday, July 27th. Robert W. Baird reiterated a “neutral” rating and issued a $320.00 price objective on shares of Tesla in a report on Monday, June 9th. Finally, Wedbush reiterated an “outperform” rating and issued a $500.00 price objective on shares of Tesla in a report on Monday, August 4th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, fifteen have assigned a Hold rating and nine have given a Sell rating to the company. According to data from MarketBeat, Tesla presently has a consensus rating of “Hold” and an average target price of $303.31.

Insiders Place Their Bets

In other Tesla news, Director Kimbal Musk sold 91,588 shares of the stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $357.39, for a total value of $32,732,635.32. Following the completion of the sale, the director directly owned 1,463,220 shares in the company, valued at $522,940,195.80. This represents a 5.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Vaibhav Taneja sold 2,000 shares of the stock in a transaction dated Tuesday, July 8th. The stock was sold at an average price of $300.00, for a total value of $600,000.00. Following the transaction, the chief financial officer owned 5,924 shares of the company’s stock, valued at approximately $1,777,200. The trade was a 25.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 599,724 shares of company stock valued at $213,126,501 over the last ninety days. 20.70% of the stock is owned by 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.