Aurora Private Wealth Inc. Reduces Position in Tesla, Inc. $TSLA

Aurora Private Wealth Inc. decreased its holdings in Tesla, Inc. (NASDAQ:TSLA) by 25.8% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,341 shares of the electric vehicle producer’s stock after selling 467 shares during the quarter. Aurora Private Wealth Inc.’s holdings in Tesla were worth $426,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Cherry Tree Wealth Management LLC raised its holdings in Tesla by 86.3% in the first quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer’s stock worth $25,000 after purchasing an additional 44 shares in the last quarter. First PREMIER Bank boosted its position in shares of Tesla by 79.2% during the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer’s stock valued at $25,000 after buying an additional 42 shares during the last quarter. Newton One Investments LLC boosted its position in shares of Tesla by 250.0% during the first quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer’s stock valued at $27,000 after buying an additional 75 shares during the last quarter. Arcadia Investment Management Corp MI bought a new position in Tesla in the first quarter valued at about $27,000. Finally, Chelsea Counsel Co. lifted its stake in shares of Tesla by 59.7% in the 1st quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock worth $28,000 after purchasing an additional 40 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on TSLA shares. UBS Group set a $247.00 target price on shares of Tesla in a report on Monday, October 6th. Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a report on Thursday, July 24th. Benchmark reaffirmed a “buy” rating and issued a $475.00 target price (up from $350.00) on shares of Tesla in a report on Thursday, June 26th. Daiwa Capital Markets reissued a “neutral” rating on shares of Tesla in a research note on Sunday, July 27th. Finally, Baird R W raised Tesla from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 19th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, thirteen have given a Hold rating and eight have assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $354.67.

Insiders Place Their Bets

In related news, SVP Xiaotong Zhu sold 20,000 shares of the firm’s 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 transaction, the senior vice president directly owned 47,600 shares of the company’s stock, valued at approximately $17,314,500. This trade represents a 29.59% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Vaibhav Taneja sold 2,606 shares of the firm’s stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $352.38, for a total transaction of $918,302.28. Following the completion of the transaction, the chief financial officer directly owned 9,856 shares in the company, valued at $3,473,057.28. This represents a 20.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 202,606 shares of company stock valued at $75,588,902. Company insiders own 19.90% of the company’s stock.

Tesla Stock Performance

Shares of TSLA opened at $413.49 on Friday. Tesla, Inc. has a 12 month low of $212.11 and a 12 month high of $488.54. The stock has a fifty day moving average price of $375.97 and a 200-day moving average price of $327.89. 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 cap of $1.37 trillion, a PE ratio of 239.01, a P/E/G ratio of 15.01 and a beta of 2.08.

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). Tesla had a net margin of 6.54% and a return on equity of 7.98%. The business had revenue of $22.50 billion for the quarter, compared to analysts’ expectations of $23.18 billion. During the same quarter in the prior year, the company posted $0.52 EPS. The business’s revenue for the quarter was down 11.8% on a year-over-year basis. Equities research analysts predict 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.