Private Wealth Partners LLC Trims Holdings in Tesla, Inc. (NASDAQ:TSLA)

Private Wealth Partners LLC lowered its holdings in Tesla, Inc. (NASDAQ:TSLA) by 23.6% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 8,603 shares of the electric vehicle producer’s stock after selling 2,659 shares during the quarter. Private Wealth Partners LLC’s holdings in Tesla were worth $1,702,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. DDFG Inc grew its holdings in shares of Tesla by 7.1% during the 4th quarter. DDFG Inc now owns 1,065 shares of the electric vehicle producer’s stock worth $265,000 after acquiring an additional 71 shares during the period. Vantage Financial Partners LLC raised its holdings in Tesla by 6.4% in the fourth quarter. Vantage Financial Partners LLC now owns 5,763 shares of the electric vehicle producer’s stock worth $1,432,000 after purchasing an additional 346 shares in the last quarter. Gilbert & Cook Inc. lifted its position in Tesla by 8.7% during the fourth quarter. Gilbert & Cook Inc. now owns 13,511 shares of the electric vehicle producer’s stock valued at $3,357,000 after buying an additional 1,086 shares during the period. 9258 Wealth Management LLC boosted its holdings in shares of Tesla by 1.1% during the 4th quarter. 9258 Wealth Management LLC now owns 6,165 shares of the electric vehicle producer’s stock valued at $1,532,000 after buying an additional 69 shares in the last quarter. Finally, Rollins Financial grew its position in shares of Tesla by 10.2% in the 4th quarter. Rollins Financial now owns 120,416 shares of the electric vehicle producer’s stock worth $29,921,000 after buying an additional 11,191 shares during the period. 66.20% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director Robyn M. Denholm sold 66,364 shares of the company’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $219.96, for a total value of $14,597,425.44. Following the sale, the director now owns 85,000 shares in the company, valued at $18,696,600. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Tesla news, Director Robyn M. Denholm sold 66,364 shares of the stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the transaction, the director now owns 85,000 shares in the company, valued at $18,696,600. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Xiaotong Zhu sold 297 shares of the firm’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $221.77, for a total transaction of $65,865.69. Following the completion of the transaction, the senior vice president now directly owns 67,491 shares in the company, valued at $14,967,479.07. The disclosure for this sale can be found here. 25.10% of the stock is currently owned by corporate insiders.

Tesla Stock Performance

Shares of TSLA stock opened at $228.13 on Thursday. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.91 and a quick ratio of 1.40. The business has a fifty day moving average of $224.13 and a 200 day moving average of $194.20. The firm has a market capitalization of $728.79 billion, a price-to-earnings ratio of 58.20, a price-to-earnings-growth ratio of 5.57 and a beta of 2.29. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $278.98.

Tesla (NASDAQ:TSLA) last released its earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). Tesla had a return on equity of 10.41% and a net margin of 13.00%. The firm had revenue of $25.50 billion for the quarter, compared to analyst estimates of $24.38 billion. During the same period last year, the firm earned $0.78 EPS. The company’s revenue for the quarter was up 2.3% compared to the same quarter last year. As a group, research analysts expect that Tesla, Inc. will post 1.75 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms recently commented on TSLA. Sanford C. Bernstein reissued an “underperform” rating and set a $120.00 price objective on shares of Tesla in a research note on Monday, June 10th. UBS Group cut Tesla from a “neutral” rating to a “sell” rating and lifted their price objective for the company from $147.00 to $197.00 in a research note on Friday, July 12th. Citigroup cut their target price on Tesla from $274.00 to $258.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 24th. China Renaissance raised shares of Tesla from a “hold” rating to a “buy” rating and set a $290.00 price target for the company in a research report on Friday, July 5th. Finally, Wolfe Research initiated coverage on Tesla in a research report on Thursday, September 5th. They issued a “peer perform” rating on the stock. Nine research analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $209.03.

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.