Merriman Wealth Management LLC trimmed its position in Tesla Inc (NASDAQ:TSLA) by 37.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 792 shares of the electric vehicle producer’s stock after selling 474 shares during the quarter. Merriman Wealth Management LLC’s holdings in Tesla were worth $272,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Global Financial Private Capital LLC lifted its stake in shares of Tesla by 4.5% during the 1st quarter. Global Financial Private Capital LLC now owns 3,952 shares of the electric vehicle producer’s stock worth $1,052,000 after purchasing an additional 171 shares during the last quarter. Financial Advocates Investment Management lifted its stake in shares of Tesla by 4.8% during the 1st quarter. Financial Advocates Investment Management now owns 3,864 shares of the electric vehicle producer’s stock worth $1,028,000 after purchasing an additional 176 shares during the last quarter. FCG Advisors LLC lifted its stake in shares of Tesla by 26.6% during the 1st quarter. FCG Advisors LLC now owns 881 shares of the electric vehicle producer’s stock worth $234,000 after purchasing an additional 185 shares during the last quarter. Miracle Mile Advisors LLC lifted its stake in shares of Tesla by 23.7% during the 1st quarter. Miracle Mile Advisors LLC now owns 1,001 shares of the electric vehicle producer’s stock worth $266,000 after purchasing an additional 192 shares during the last quarter. Finally, Boston Private Wealth LLC lifted its stake in shares of Tesla by 19.8% during the 1st quarter. Boston Private Wealth LLC now owns 1,167 shares of the electric vehicle producer’s stock worth $311,000 after purchasing an additional 193 shares during the last quarter. Institutional investors and hedge funds own 56.26% of the company’s stock.

Tesla stock opened at $303.15 on Friday. The company has a debt-to-equity ratio of 2.01, a current ratio of 0.73 and a quick ratio of 0.37. Tesla Inc has a one year low of $244.59 and a one year high of $389.61. The stock has a market capitalization of $53.20 billion, a price-to-earnings ratio of -26.41 and a beta of 0.65.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, August 1st. The electric vehicle producer reported ($3.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($3.61) by $0.55. The business had revenue of $4 billion for the quarter, compared to analyst estimates of $3.93 billion. Tesla had a negative return on equity of 50.84% and a negative net margin of 19.89%. The company’s revenue was up 43.5% on a year-over-year basis. During the same period in the prior year, the company earned ($1.33) earnings per share. equities analysts predict that Tesla Inc will post -10.77 earnings per share for the current year.

A number of equities research analysts recently weighed in on the company. Canaccord Genuity set a $316.00 price objective on Tesla and gave the stock a “hold” rating in a research note on Tuesday. Royal Bank of Canada set a $315.00 price objective on Tesla and gave the stock a “neutral” rating in a research note on Monday. Morgan Stanley set a $291.00 price objective on Tesla and gave the stock a “neutral” rating in a research note on Monday. Jefferies Financial Group set a $360.00 price objective on Tesla and gave the stock a “neutral” rating in a research note on Monday. Finally, Barclays set a $210.00 price objective on Tesla and gave the stock a “sell” rating in a research note on Monday. Twelve analysts have rated the stock with a sell rating, fourteen have given a hold rating and ten have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $310.21.

In other news, CEO Elon Musk acquired 55,000 shares of the business’s stock in a transaction dated Tuesday, June 12th. The shares were acquired at an average cost of $343.19 per share, with a total value of $18,875,450.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP John Douglas Field sold 3,000 shares of the stock in a transaction dated Friday, June 15th. The shares were sold at an average price of $359.27, for a total value of $1,077,810.00. Following the completion of the transaction, the vice president now directly owns 20,964 shares in the company, valued at $7,531,736.28. The disclosure for this sale can be found here. 22.80% of the stock is currently owned by corporate insiders.

Tesla Profile

Tesla, Inc designs, develops, manufactures, and sells electric vehicles, and energy generation and storage systems in the United States, China, Norway, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers sedans and sport utility vehicles.

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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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