Y.D. More Investments Ltd Cuts Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Y.D. More Investments Ltd decreased its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 0.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,308 shares of the electric vehicle producer’s stock after selling 65 shares during the quarter. Y.D. More Investments Ltd’s holdings in Tesla were worth $1,760,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Integris Wealth Management LLC lifted its holdings in shares of Tesla by 1.0% in the 2nd quarter. Integris Wealth Management LLC now owns 4,065 shares of the electric vehicle producer’s stock valued at $804,000 after acquiring an additional 42 shares during the last quarter. Echo Wealth Management LLC lifted its stake in shares of Tesla by 0.7% in the 2nd quarter. Echo Wealth Management LLC now owns 6,474 shares of the electric vehicle producer’s stock valued at $1,281,000 after purchasing an additional 44 shares during the last quarter. WASHINGTON TRUST Co boosted its holdings in shares of Tesla by 3.2% in the 2nd quarter. WASHINGTON TRUST Co now owns 1,433 shares of the electric vehicle producer’s stock worth $284,000 after purchasing an additional 45 shares during the period. Bellevue Asset Management LLC increased its position in shares of Tesla by 1.6% during the 2nd quarter. Bellevue Asset Management LLC now owns 2,868 shares of the electric vehicle producer’s stock valued at $568,000 after purchasing an additional 45 shares during the last quarter. Finally, Cypress Capital Group raised its holdings in Tesla by 1.7% during the 2nd quarter. Cypress Capital Group now owns 2,806 shares of the electric vehicle producer’s stock valued at $555,000 after buying an additional 47 shares during the period. Institutional investors own 66.20% of the company’s stock.

Tesla Stock Up 0.9 %

Shares of Tesla stock opened at $228.13 on Thursday. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $278.98. The firm’s 50 day moving average price is $224.13 and its 200-day moving average price is $194.20. The company has a quick ratio of 1.40, a current ratio of 1.91 and a debt-to-equity ratio of 0.08. The company has a market cap of $728.79 billion, a P/E ratio of 58.20, a PEG ratio of 5.57 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). The business had revenue of $25.50 billion for the quarter, compared to analyst estimates of $24.38 billion. Tesla had a return on equity of 10.41% and a net margin of 13.00%. The business’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.78 earnings per share. On average, sell-side analysts predict that Tesla, Inc. will post 1.75 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have weighed in on TSLA. Morgan Stanley reiterated an “overweight” rating and set a $310.00 price objective on shares of Tesla in a research report on Thursday, September 5th. Wells Fargo & Company reissued an “underweight” rating and issued a $120.00 price objective on shares of Tesla in a research report on Monday, July 1st. HSBC boosted their target price on Tesla from $120.00 to $130.00 in a research report on Wednesday, July 10th. Royal Bank of Canada reduced their price target on Tesla from $227.00 to $224.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Finally, Guggenheim reaffirmed a “sell” rating and issued a $134.00 price objective on shares of Tesla in a research report on Tuesday, July 23rd. Nine analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $209.03.

Insider Activity at Tesla

In other Tesla news, Director Robyn M. Denholm sold 66,364 shares of the firm’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $219.96, for a total value of $14,597,425.44. Following the completion of the sale, the director now owns 85,000 shares of the company’s stock, valued at $18,696,600. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction on Friday, September 6th. The shares were sold at an average price of $221.77, for a total transaction of $65,865.69. Following the completion of the sale, the senior vice president now directly owns 67,491 shares in the company, valued at $14,967,479.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Robyn M. Denholm sold 66,364 shares of the company’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $219.96, for a total value of $14,597,425.44. Following the completion of the transaction, the director now directly owns 85,000 shares in the company, valued at $18,696,600. The disclosure for this sale can be found here. 25.10% of the stock is currently owned by corporate insiders.

Tesla Company 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.