5th Street Advisors LLC Sells 110 Shares of Tesla, Inc. $TSLA

by · The Cerbat Gem

5th Street Advisors LLC reduced its holdings in shares of Tesla, Inc. (NASDAQ:TSLA – Free Report) by 10.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 944 shares of the electric vehicle producer’s stock after selling 110 shares during the quarter. 5th Street Advisors LLC’s holdings in Tesla were worth $300,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in shares of Tesla by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer’s stock valued at $63,983,418,000 after buying an additional 3,694,524 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Tesla by 322.1% during 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 buying an additional 20,291,139 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Tesla by 4.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 18,174,941 shares of the electric vehicle producer’s stock valued at $4,710,218,000 after buying an additional 849,091 shares in the last quarter. Amundi lifted its stake in shares of Tesla by 29.4% during the 1st quarter. Amundi now owns 16,771,882 shares of the electric vehicle producer’s stock valued at $4,482,789,000 after buying an additional 3,814,610 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in shares of Tesla by 17.6% during the 1st quarter. Invesco Ltd. now owns 14,786,414 shares of the electric vehicle producer’s stock valued at $3,832,047,000 after buying an additional 2,211,300 shares in the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on TSLA shares. China Renaissance reiterated a “hold” rating and issued a $349.00 target price on shares of Tesla in a research note on Friday, July 25th. Wedbush increased their target price on shares of Tesla from $500.00 to $600.00 and gave the stock an “outperform” rating in a research note on Friday, September 26th. Evercore ISI increased their target price on shares of Tesla from $235.00 to $300.00 and gave the stock an “in-line” rating in a research note on Monday. Daiwa Capital Markets reiterated a “neutral” rating on shares of Tesla in a research note on Sunday, July 27th. Finally, Industrial Alliance Securities set a $300.00 target price on shares of Tesla in a research note on Monday. Two analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, twelve have given a Hold rating and ten have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $363.54.

Read Our Latest Stock Analysis on TSLA

Insider Transactions at Tesla

In related news, SVP Xiaotong Zhu sold 20,000 shares of Tesla stock in a transaction on 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 transaction, the senior vice president owned 47,600 shares in the company, valued at $17,314,500. This trade represents a 29.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James R. Murdoch sold 60,000 shares of Tesla stock in a transaction on Monday, September 15th. The stock was 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 owned 637,031 shares in the company, 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 ninety days, insiders sold 202,606 shares of company stock valued at $75,588,902. Insiders own 19.90% of the company’s stock.

Tesla Stock Performance

NASDAQ TSLA opened at $428.75 on Friday. Tesla, Inc. has a 52-week low of $212.11 and a 52-week high of $488.54. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04. The company has a market capitalization of $1.43 trillion, a P/E ratio of 247.83, a P/E/G ratio of 15.64 and a beta of 2.08. The company has a fifty day moving average of $385.34 and a 200-day moving average of $332.07.

Tesla (NASDAQ:TSLA – Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). Tesla had a return on equity of 7.98% and a net margin of 6.54%.The company had revenue of $22.50 billion for the quarter, compared to the consensus estimate of $23.18 billion. During the same period in the prior year, the firm posted $0.52 earnings per share. The business’s revenue was down 11.8% on a year-over-year basis. As a group, equities research analysts predict that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Tesla Profile

(Free Report)

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.

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