Trek Financial LLC Sells 9,044 Shares of Tesla, Inc. $TSLA

Trek Financial LLC cut its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 37.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,872 shares of the electric vehicle producer’s stock after selling 9,044 shares during the period. Trek Financial LLC’s holdings in Tesla were worth $4,724,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Chelsea Counsel Co. grew its stake in Tesla by 59.7% in the first quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock valued at $28,000 after acquiring an additional 40 shares during the period. LGT Financial Advisors LLC bought a new position in shares of Tesla during the 2nd quarter valued at about $29,000. Evergreen Private Wealth LLC lifted its holdings in shares of Tesla by 270.0% during the 2nd quarter. Evergreen Private Wealth LLC now owns 111 shares of the electric vehicle producer’s stock valued at $35,000 after purchasing an additional 81 shares in the last quarter. Glynn Capital Management LLC acquired a new position in shares of Tesla in the 2nd quarter valued at approximately $35,000. Finally, LSV Asset Management increased its stake in Tesla by 400.0% during the 2nd quarter. LSV Asset Management now owns 120 shares of the electric vehicle producer’s stock worth $38,000 after purchasing an additional 96 shares in the last quarter. 66.20% of the stock is owned by institutional investors.

Insider Activity at Tesla

In other news, SVP Xiaotong Zhu sold 20,000 shares of Tesla stock in a transaction dated Thursday, September 11th. The shares were 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 owned 47,600 shares of the company’s stock, valued at $17,314,500. This trade represents a 29.59% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director James R. Murdoch sold 60,000 shares of Tesla stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $422.68, for a total value of $25,360,800.00. Following the transaction, the director owned 637,031 shares of the company’s stock, valued at $269,260,263.08. The trade was a 8.61% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 82,606 shares of company stock valued at $33,554,102. 19.90% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have recently weighed in on TSLA shares. Glj Research reiterated a “sell” rating on shares of Tesla in a report on Wednesday, October 22nd. Melius Research set a $520.00 price objective on shares of Tesla and gave the company a “buy” rating in a research report on Monday, October 13th. Cowen reiterated a “buy” rating on shares of Tesla in a report on Monday, November 17th. Weiss Ratings restated a “hold (c-)” rating on shares of Tesla in a report on Thursday, October 30th. Finally, Barclays reaffirmed a “neutral” rating and set a $350.00 price objective on shares of Tesla in a research report on Monday. One analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, thirteen have assigned a Hold rating and nine have issued a Sell rating to the stock. According to data from MarketBeat.com, Tesla has an average rating of “Hold” and an average price target of $398.92.

Tesla Price Performance

NASDAQ:TSLA opened at $429.24 on Wednesday. Tesla, Inc. has a 52-week low of $214.25 and a 52-week high of $488.54. The company has a market cap of $1.43 trillion, a P/E ratio of 286.16, a P/E/G ratio of 16.84 and a beta of 2.06. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.67 and a current ratio of 2.07. The stock’s 50-day simple moving average is $433.94 and its 200 day simple moving average is $370.52.

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

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.