Ameritas Advisory Services LLC Has $5.87 Million Holdings in Tesla, Inc. $TSLA

Ameritas Advisory Services LLC reduced its stake in Tesla, Inc. (NASDAQ:TSLA) by 29.0% during the second quarter, HoldingsChannel reports. The firm owned 18,482 shares of the electric vehicle producer’s stock after selling 7,561 shares during the quarter. Ameritas Advisory Services LLC’s holdings in Tesla were worth $5,871,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in TSLA. Goldman Sachs Group Inc. boosted its position in Tesla by 322.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer’s stock worth $6,891,201,000 after buying an additional 20,291,139 shares during the period. Nuveen LLC acquired a new position in shares of Tesla during the first quarter worth $3,247,619,000. Kingstone Capital Partners Texas LLC lifted its holdings in shares of Tesla by 581,880.5% during the second quarter. Kingstone Capital Partners Texas LLC now owns 6,436,704 shares of the electric vehicle producer’s stock worth $2,044,683,000 after purchasing an additional 6,435,598 shares during the period. Amundi lifted its holdings in shares of Tesla by 29.4% during the first quarter. Amundi now owns 16,771,882 shares of the electric vehicle producer’s stock worth $4,482,789,000 after purchasing an additional 3,814,610 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in shares of Tesla by 1.5% during the first quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer’s stock worth $63,983,418,000 after purchasing an additional 3,694,524 shares during the period. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Tesla news, SVP Xiaotong Zhu sold 20,000 shares of the stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $363.75, for a total value of $7,275,000.00. Following the completion of the sale, the senior vice president owned 47,600 shares in the company, valued at approximately $17,314,500. This trade represents a 29.59% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Vaibhav Taneja sold 2,606 shares of the stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $352.38, for a total value of $918,302.28. Following the sale, the chief financial officer directly owned 9,856 shares of the company’s stock, valued at $3,473,057.28. The trade was a 20.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 208,606 shares of company stock worth $77,360,462 over the last quarter. Insiders own 19.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Cantor Fitzgerald reiterated an “overweight” rating and issued a $355.00 price target on shares of Tesla in a research report on Friday. China Renaissance reaffirmed a “hold” rating and issued a $349.00 price objective on shares of Tesla in a research note on Friday, July 25th. Dbs Bank boosted their price target on shares of Tesla from $300.00 to $450.00 in a research report on Wednesday, September 17th. UBS Group restated a “sell” rating and issued a $215.00 price target on shares of Tesla in a research report on Thursday. Finally, Mizuho boosted their price target on shares of Tesla from $375.00 to $450.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, thirteen have assigned a Hold rating and eight have issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $343.43.

Tesla Stock Performance

Shares of Tesla stock opened at $429.83 on Friday. The company has a market cap of $1.43 trillion, a PE ratio of 248.46, a price-to-earnings-growth ratio of 14.93 and a beta of 2.08. Tesla, Inc. has a 52 week low of $212.11 and a 52 week high of $488.54. The business has a 50 day moving average price of $364.02 and a 200-day moving average price of $321.99. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07.

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