Leelyn Smith LLC Lowers Holdings in Tesla, Inc. $TSLA

Leelyn Smith LLC reduced its position in Tesla, Inc. (NASDAQ:TSLA) by 1.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,901 shares of the electric vehicle producer’s stock after selling 149 shares during the period. Leelyn Smith LLC’s holdings in Tesla were worth $3,463,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Arcadia Investment Management Corp MI acquired a new position in shares of Tesla in the 1st quarter valued at approximately $27,000. Chelsea Counsel Co. increased its holdings 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 valued at $28,000 after acquiring an additional 40 shares during the last quarter. Centennial Bank AR increased its holdings in shares of Tesla by 833.3% in the 1st quarter. Centennial Bank AR now owns 112 shares of the electric vehicle producer’s stock valued at $29,000 after acquiring an additional 100 shares during the last quarter. LGT Financial Advisors LLC bought a new stake in shares of Tesla in the 2nd quarter valued at approximately $29,000. Finally, Compass Wealth Management LLC grew its stake in Tesla by 360.0% during the 1st quarter. Compass Wealth Management LLC now owns 115 shares of the electric vehicle producer’s stock worth $30,000 after buying an additional 90 shares during the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, SVP Xiaotong Zhu sold 20,000 shares of the stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the transaction, the senior vice president owned 47,600 shares of the company’s stock, valued at approximately $17,314,500. This represents a 29.59% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 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 owned 9,856 shares of the company’s stock, valued at approximately $3,473,057.28. The trade was a 20.91% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 202,606 shares of company stock valued at $75,588,902. Insiders own 19.90% of the company’s stock.

Tesla Stock Performance

Shares of TSLA stock opened at $433.72 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.07 and a quick ratio of 1.55. Tesla, Inc. has a fifty-two week low of $214.25 and a fifty-two week high of $488.54. The stock’s 50-day moving average is $398.06 and its two-hundred day moving average is $339.92. The firm has a market cap of $1.44 trillion, a P/E ratio of 289.15, a PEG ratio of 16.13 and a beta of 2.08.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, October 22nd. The electric vehicle producer reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.02. The business had revenue of $28.10 billion for the quarter, compared to analyst estimates of $24.98 billion. Tesla had a return on equity of 6.61% and a net margin of 5.51%.The firm’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.72 EPS. Analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently commented on TSLA shares. Weiss Ratings restated a “hold (c)” rating on shares of Tesla in a research note on Wednesday, October 8th. William Blair restated a “market perform” rating on shares of Tesla in a research note on Friday, September 5th. Guggenheim restated a “sell” rating and set a $175.00 price objective on shares of Tesla in a research note on Wednesday, July 23rd. Piper Sandler lifted their price objective on shares of Tesla from $400.00 to $500.00 and gave the company an “overweight” rating in a research note on Monday, September 22nd. Finally, Glj Research restated a “sell” rating on shares of Tesla in a research note on Wednesday. One research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating, twelve have given a Hold rating and eleven have issued a Sell rating to the company. According to MarketBeat, Tesla has an average rating of “Hold” and an average target price of $380.03.

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.