J.W. Cole Advisors Inc. Sells 8,509 Shares of Tesla, Inc. (NASDAQ:TSLA)

J.W. Cole Advisors Inc. trimmed its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 19.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 35,835 shares of the electric vehicle producer’s stock after selling 8,509 shares during the period. J.W. Cole Advisors Inc.’s holdings in Tesla were worth $7,091,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in TSLA. Bank & Trust Co bought a new stake in Tesla in the 2nd quarter valued at about $25,000. Valley Wealth Managers Inc. bought a new stake in Tesla in the 2nd quarter valued at about $26,000. OLD Point Trust & Financial Services N A bought a new stake in Tesla in the 4th quarter valued at about $37,000. Kessler Investment Group LLC raised its stake in Tesla by 35.9% in the 2nd quarter. Kessler Investment Group LLC now owns 193 shares of the electric vehicle producer’s stock valued at $38,000 after acquiring an additional 51 shares during the period. Finally, Aspect Partners LLC raised its stake in Tesla by 121.3% in the 2nd quarter. Aspect Partners LLC now owns 208 shares of the electric vehicle producer’s stock valued at $41,000 after acquiring an additional 114 shares during the period. 66.20% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Tesla news, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction on Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the transaction, the senior vice president now owns 67,491 shares in the company, valued at $14,967,479.07. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Tesla news, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction on Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the transaction, the senior vice president now owns 67,491 shares in the company, valued at $14,967,479.07. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Robyn M. Denholm sold 66,364 shares of the stock in a transaction on 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 completion of the sale, the director now directly owns 85,000 shares in the company, valued at $18,696,600. The disclosure for this sale can be found here. 25.10% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Morgan Stanley restated an “overweight” rating and issued a $310.00 price objective on shares of Tesla in a research note on Thursday, September 5th. Barclays decreased their price target on Tesla from $225.00 to $220.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 25th. Piper Sandler reiterated an “overweight” rating and set a $300.00 price target on shares of Tesla in a research report on Monday, August 19th. China Renaissance upgraded Tesla from a “hold” rating to a “buy” rating and set a $290.00 price target on the stock in a research report on Friday, July 5th. Finally, Wedbush reiterated an “outperform” rating and set a $300.00 price target on shares of Tesla in a research report on Wednesday, July 24th. Nine investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $209.60.

Tesla Price Performance

Shares of Tesla stock opened at $230.29 on Friday. The company has a quick ratio of 1.40, a current ratio of 1.91 and a debt-to-equity ratio of 0.08. The company has a market cap of $735.69 billion, a PE ratio of 58.75, a P/E/G ratio of 6.03 and a beta of 2.29. The business has a 50 day moving average of $223.37 and a 200 day moving average of $194.66. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $278.98.

Tesla (NASDAQ:TSLA) last announced 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). The business had revenue of $25.50 billion for the quarter, compared to the consensus estimate of $24.38 billion. Tesla had a net margin of 13.00% and a return on equity of 10.41%. Tesla’s revenue was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.78 EPS. As a group, equities research analysts forecast that Tesla, Inc. will post 1.75 earnings per share for the current 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.