Stokes Family Office LLC Sells 962 Shares of Tesla, Inc. $TSLA

Stokes Family Office LLC decreased its stake in Tesla, Inc. (NASDAQ:TSLA) by 22.6% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,292 shares of the electric vehicle producer’s stock after selling 962 shares during the period. Stokes Family Office LLC’s holdings in Tesla were worth $1,046,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. LGT Financial Advisors LLC purchased a new stake in Tesla in the second quarter worth $29,000. Chelsea Counsel Co. increased its holdings in 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 acquiring an additional 40 shares during the last quarter. Evergreen Private Wealth LLC raised its position in shares of Tesla by 270.0% in the second quarter. Evergreen Private Wealth LLC now owns 111 shares of the electric vehicle producer’s stock valued at $35,000 after purchasing an additional 81 shares during the period. Maseco LLP purchased a new position in Tesla in the 2nd quarter valued at approximately $39,000. Finally, Morton Brown Family Wealth LLC lifted its position in shares of Tesla by 36.0% during the second quarter. Morton Brown Family Wealth LLC now owns 136 shares of the electric vehicle producer’s stock worth $43,000 after acquiring an additional 36 shares in the last quarter. 66.20% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Cantor Fitzgerald set a $510.00 price objective on Tesla and gave the stock an “overweight” rating in a report on Thursday, October 23rd. Stifel Nicolaus set a $483.00 price target on shares of Tesla and gave the stock a “buy” rating in a report on Wednesday, October 8th. China Renaissance boosted their price objective on shares of Tesla from $349.00 to $380.00 and gave the company a “hold” rating in a research note on Friday, October 24th. Industrial Alliance Securities set a $300.00 target price on shares of Tesla in a research note on Monday, October 13th. Finally, Bank of America boosted their price target on shares of Tesla from $341.00 to $471.00 and gave the company a “neutral” rating in a research report on Wednesday, October 29th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, thirteen have issued a Hold rating and eleven have issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $391.08.

Tesla Stock Down 3.7%

Shares of NASDAQ TSLA opened at $429.52 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.07 and a quick ratio of 1.67. Tesla, Inc. has a one year low of $214.25 and a one year high of $488.54. The firm’s 50 day simple moving average is $420.97 and its two-hundred day simple moving average is $354.73. The stock has a market capitalization of $1.43 trillion, a P/E ratio of 286.35, a PEG ratio of 16.84 and a beta of 2.06.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Thursday, October 23rd. The electric vehicle producer reported $0.50 EPS for the quarter, topping the consensus estimate of $0.48 by $0.02. The firm had revenue of $28.10 billion for the quarter, compared to the consensus estimate of $24.98 billion. Tesla had a return on equity of 6.61% and a net margin of 5.51%.The company’s quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.72 earnings per share. As a group, analysts expect that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Buying and Selling at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, September 11th. The stock was 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. The trade was a 29.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director James R. Murdoch sold 60,000 shares of the firm’s stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $422.68, for a total transaction of $25,360,800.00. Following the completion of the transaction, the director owned 637,031 shares in the company, valued at $269,260,263.08. This represents a 8.61% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 202,606 shares of company stock worth $75,588,902. 19.90% of the stock is currently owned by insiders.

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.