Nisa Investment Advisors LLC Sells 1,130 Shares of Tesla, Inc. (NASDAQ:TSLA)

Nisa Investment Advisors LLC decreased its stake in Tesla, Inc. (NASDAQ:TSLA) by 0.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 559,260 shares of the electric vehicle producer’s stock after selling 1,130 shares during the quarter. Tesla makes up about 0.7% of Nisa Investment Advisors LLC’s investment portfolio, making the stock its 18th largest position. Nisa Investment Advisors LLC’s holdings in Tesla were worth $110,666,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. Integris Wealth Management LLC boosted its stake in Tesla by 1.0% in the second quarter. Integris Wealth Management LLC now owns 4,065 shares of the electric vehicle producer’s stock worth $804,000 after purchasing an additional 42 shares in the last quarter. Echo Wealth Management LLC lifted its position in Tesla by 0.7% during the 2nd quarter. Echo Wealth Management LLC now owns 6,474 shares of the electric vehicle producer’s stock worth $1,281,000 after buying an additional 44 shares in the last quarter. WASHINGTON TRUST Co grew its holdings in Tesla by 3.2% during the 2nd quarter. WASHINGTON TRUST Co now owns 1,433 shares of the electric vehicle producer’s stock worth $284,000 after acquiring an additional 45 shares during the last quarter. Keystone Wealth Services LLC increased its position in Tesla by 0.8% in the 2nd quarter. Keystone Wealth Services LLC now owns 5,993 shares of the electric vehicle producer’s stock valued at $1,186,000 after acquiring an additional 49 shares in the last quarter. Finally, West Paces Advisors Inc. raised its stake in shares of Tesla by 5.9% in the second quarter. West Paces Advisors Inc. now owns 901 shares of the electric vehicle producer’s stock worth $178,000 after acquiring an additional 50 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors.

Tesla Stock Up 2.9 %

Shares of TSLA traded up $6.17 during midday trading on Monday, hitting $222.29. The stock had a trading volume of 63,540,594 shares, compared to its average volume of 99,094,648. The firm has a market cap of $708.93 billion, a price-to-earnings ratio of 56.31, a price-to-earnings-growth ratio of 5.22 and a beta of 2.31. The company has a 50 day simple moving average of $215.14 and a two-hundred day simple moving average of $190.99. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $278.98. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.91 and a quick ratio of 1.40.

Tesla (NASDAQ:TSLA) last announced its earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). Tesla had a net margin of 13.00% and a return on equity of 10.41%. The firm had revenue of $25.50 billion during the quarter, compared to analyst estimates of $24.38 billion. During the same period in the prior year, the business posted $0.78 EPS. The firm’s quarterly revenue was up 2.3% compared to the same quarter last year. On average, analysts anticipate that Tesla, Inc. will post 1.79 EPS for the current year.

Analyst Ratings Changes

TSLA has been the topic of several research analyst reports. Truist Financial reissued a “hold” rating and set a $215.00 price target on shares of Tesla in a research note on Wednesday, August 14th. Guggenheim reissued a “sell” rating and issued a $134.00 target price on shares of Tesla in a research note on Tuesday, July 23rd. Robert W. Baird reaffirmed an “outperform” rating and set a $280.00 price target on shares of Tesla in a research note on Tuesday, July 16th. Stifel Nicolaus assumed coverage on Tesla in a research report on Tuesday, June 25th. They issued a “buy” rating and a $265.00 price objective for the company. Finally, Morgan Stanley restated an “overweight” rating and set a $310.00 target price on shares of Tesla in a research report on Monday, July 29th. Nine investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $204.21.

Insider Transactions at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 650 shares of Tesla stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $174.21, for a total value of $113,236.50. Following the sale, the senior vice president now directly owns 65,155 shares in the company, valued at approximately $11,350,652.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Tesla news, SVP Xiaotong Zhu sold 650 shares of the business’s stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $174.21, for a total transaction of $113,236.50. Following the transaction, the senior vice president now owns 65,155 shares of the company’s stock, valued at approximately $11,350,652.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robyn M. Denholm sold 66,364 shares of the stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $219.96, for a total value of $14,597,425.44. Following the completion of the sale, the director now directly owns 85,000 shares of the company’s stock, valued at approximately $18,696,600. The disclosure for this sale can be found here. 25.10% of the stock is currently owned by insiders.

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.