Channel Wealth LLC Sells 166 Shares of Tesla, Inc. $TSLA

Channel Wealth LLC reduced its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 3.4% during the 2nd quarter, Holdings Channel.com reports. The firm owned 4,662 shares of the electric vehicle producer’s stock after selling 166 shares during the quarter. Channel Wealth LLC’s holdings in Tesla were worth $1,481,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the stock. Acorn Wealth Advisors LLC raised its holdings in Tesla by 1.9% in the first quarter. Acorn Wealth Advisors LLC now owns 1,901 shares of the electric vehicle producer’s stock worth $493,000 after purchasing an additional 36 shares during the period. Solutions 4 Wealth Ltd increased its position in shares of Tesla by 2.0% in the 1st quarter. Solutions 4 Wealth Ltd now owns 1,815 shares of the electric vehicle producer’s stock valued at $470,000 after buying an additional 36 shares in the last quarter. ACT Wealth Management LLC raised its stake in Tesla by 0.7% during the 2nd quarter. ACT Wealth Management LLC now owns 5,405 shares of the electric vehicle producer’s stock worth $1,717,000 after buying an additional 36 shares during the period. Capital Management Associates Inc lifted its holdings in Tesla by 3.4% during the first quarter. Capital Management Associates Inc now owns 1,166 shares of the electric vehicle producer’s stock worth $302,000 after acquiring an additional 38 shares in the last quarter. Finally, Graney & King LLC grew its stake in Tesla by 18.4% in the first quarter. Graney & King LLC now owns 245 shares of the electric vehicle producer’s stock valued at $63,000 after acquiring an additional 38 shares during the period. Institutional investors own 66.20% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on TSLA shares. William Blair reiterated a “market perform” rating on shares of Tesla in a report on Friday, September 5th. Stifel Nicolaus set a $440.00 price target on shares of Tesla in a research note on Friday, September 5th. Dbs Bank increased their price objective on shares of Tesla from $300.00 to $450.00 in a research report on Wednesday. UBS Group set a $290.00 price objective on shares of Tesla in a report on Monday, June 30th. Finally, Daiwa Capital Markets reaffirmed a “neutral” rating on shares of Tesla in a research note on Sunday, July 27th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, fourteen have issued a Hold rating and nine have issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $307.46.

Insider Buying and Selling

In other Tesla news, CFO Vaibhav Taneja sold 2,606 shares of the company’s stock in a transaction on Monday, September 8th. The stock was sold at an average price of $352.38, for a total value of $918,302.28. Following the transaction, the chief financial officer directly owned 9,856 shares of the company’s stock, valued at $3,473,057.28. This represents a 20.91% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Xiaotong Zhu sold 20,000 shares of the business’s stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the completion of the sale, the senior vice president directly owned 47,600 shares of the company’s stock, valued at approximately $17,314,500. The trade was a 29.59% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 208,606 shares of company stock valued at $77,360,462. Insiders own 20.70% of the company’s stock.

Tesla Stock Up 1.0%

TSLA stock opened at $425.86 on Thursday. Tesla, Inc. has a 1-year low of $212.11 and a 1-year high of $488.54. The business’s 50 day simple moving average is $336.29 and its 200 day simple moving average is $306.18. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $1.37 trillion, a PE ratio of 246.16, a PEG ratio of 14.71 and a beta of 2.06.

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

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.