Stratos Wealth Advisors LLC Sells 41 Shares of Tesla, Inc. $TSLA

Stratos Wealth Advisors LLC trimmed its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 0.5% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 7,903 shares of the electric vehicle producer’s stock after selling 41 shares during the quarter. Stratos Wealth Advisors LLC’s holdings in Tesla were worth $2,511,000 as of its most recent filing with the SEC.

Other large investors have also bought and sold shares of the company. Cherry Tree Wealth Management LLC increased its stake in Tesla by 86.3% during the 1st quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer’s stock worth $25,000 after purchasing an additional 44 shares in the last quarter. First PREMIER Bank increased its stake in Tesla by 79.2% during the 1st quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer’s stock worth $25,000 after purchasing an additional 42 shares in the last quarter. Arcadia Investment Management Corp MI bought a new stake in Tesla during the 1st quarter worth approximately $27,000. Chelsea Counsel Co. increased its stake in 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 purchasing an additional 40 shares in the last quarter. Finally, Centennial Bank AR increased its stake in Tesla by 833.3% during the 1st quarter. Centennial Bank AR now owns 112 shares of the electric vehicle producer’s stock worth $29,000 after purchasing an additional 100 shares in the last quarter. 66.20% of the stock is owned by institutional investors.

Insider Activity

In other news, SVP Xiaotong Zhu sold 20,000 shares of the stock in a transaction that occurred 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 sale, the senior vice president owned 47,600 shares of the company’s stock, valued at approximately $17,314,500. This represents a 29.59% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director James R. Murdoch sold 60,000 shares of the 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 of the company’s stock, valued at approximately $269,260,263.08. The trade was a 8.61% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 202,606 shares of company stock valued at $75,588,902. 19.90% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on TSLA. Robert W. Baird raised Tesla from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $320.00 to $548.00 in a research note on Friday, September 19th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $355.00 price target on shares of Tesla in a research report on Friday, October 3rd. Guggenheim reaffirmed a “sell” rating and set a $175.00 price target on shares of Tesla in a research report on Wednesday, July 23rd. Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a research report on Thursday, July 24th. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of Tesla in a research report on Wednesday. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, twelve have given a Hold rating and ten have assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $363.54.

Tesla Trading Up 2.5%

NASDAQ TSLA opened at $439.31 on Friday. The company has a market cap of $1.46 trillion, a PE ratio of 253.94, a PEG ratio of 15.41 and a beta of 2.08. 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, Inc. has a 12 month low of $212.11 and a 12 month high of $488.54. The stock has a 50 day moving average of $387.54 and a 200-day moving average of $333.25.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, July 23rd. The electric vehicle producer reported $0.40 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.03). The company had revenue of $22.50 billion during the quarter, compared to analyst estimates of $23.18 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. The company’s quarterly revenue was down 11.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.52 EPS. On average, equities research analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

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.