Rede Wealth LLC Sells 616 Shares of Tesla, Inc. $TSLA
Rede Wealth LLC has reduced its holdings in Tesla, Inc. (NASDAQ:TSLA) by 36.6%, selling 616 shares in the second quarter, leaving them with 1,067 shares valued at $339,000. Other institutional investors have also adjusted their positions in Tesla. The company's stock opened at $456.56, with a market cap of $1.52 trillion. Tesla reported earnings of $0.50 per share for the last quarter, exceeding estimates, with revenue of $28.10 billion, up 11.6% year-over-year. Insider selling has also been noted, with significant shares sold by executives recently.
Rede Wealth LLC decreased its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 36.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,067 shares of the electric vehicle producer's stock after selling 616 shares during the period. Rede Wealth LLC's holdings in Tesla were worth $339,000 at the end of the most recent quarter.
- MarketBeat Week in Review – 10/27 - 10/31
A number of other institutional investors have also recently made changes to their positions in the business. First Merchants Corp lifted its stake in Tesla by 1.3% in the second quarter. First Merchants Corp now owns 2,413 shares of the electric vehicle producer's stock worth $767,000 after purchasing an additional 31 shares during the last quarter. Alaska Wealth Advisors lifted its stake in Tesla by 3.4% in the second quarter. Alaska Wealth Advisors now owns 985 shares of the electric vehicle producer's stock worth $313,000 after purchasing an additional 32 shares during the last quarter. KWB Wealth lifted its stake in Tesla by 2.4% in the second quarter. KWB Wealth now owns 1,381 shares of the electric vehicle producer's stock worth $439,000 after purchasing an additional 33 shares during the last quarter. Conrad Siegel Investment Advisors Inc. lifted its stake in Tesla by 3.6% in the second quarter. Conrad Siegel Investment Advisors Inc. now owns 976 shares of the electric vehicle producer's stock worth $310,000 after purchasing an additional 34 shares during the last quarter. Finally, Guyasuta Investment Advisors Inc. lifted its stake in Tesla by 0.7% in the second quarter. Guyasuta Investment Advisors Inc. now owns 5,107 shares of the electric vehicle producer's stock worth $1,622,000 after purchasing an additional 34 shares during the last quarter. Institutional investors own 66.20% of the company's stock.
Tesla Stock Performance
Shares of TSLA stock opened at $456.56 on Friday. The firm has a market cap of $1.52 trillion, a price-to-earnings ratio of 304.37, a PEG ratio of 16.84 and a beta of 2.08. The company's 50 day moving average is $410.52 and its 200 day moving average is $347.47. The company has a quick ratio of 1.67, a current ratio of 2.07 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a 52-week low of $214.25 and a 52-week high of $488.54.
- Tesla Stock: The Bulls Are Winning…For Now
Tesla (NASDAQ:TSLA - Get Free Report) last issued its quarterly earnings data on Wednesday, October 22nd. The electric vehicle producer reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.02. The company had revenue of $28.10 billion for the quarter, compared to analyst estimates of $24.98 billion. Tesla had a net margin of 5.51% and a return on equity of 6.61%. Tesla's revenue was up 11.6% compared to the same quarter last year. During the same period last year, the company posted $0.72 earnings per share. On average, sell-side analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current fiscal year.
Insider Activity at Tesla
In other Tesla news, SVP Xiaotong Zhu sold 20,000 shares of Tesla stock in a transaction on 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. The trade was a 29.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Vaibhav Taneja sold 2,606 shares of Tesla stock in a transaction on Monday, September 8th. The stock was 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 SEC filing for this sale provides additional information. Insiders have sold a total of 202,606 shares of company stock valued at $75,588,902 over the last ninety days. 19.90% of the stock is owned by company insiders.
Analyst Ratings Changes
- MarketBeat Week in Review – 10/20 - 10/24
Several brokerages have issued reports on TSLA. Morgan Stanley reissued an "overweight" rating on shares of Tesla in a research note on Wednesday, October 15th. Mizuho raised their price objective on shares of Tesla from $450.00 to $485.00 and gave the stock an "outperform" rating in a research note on Thursday, October 23rd. William Blair reaffirmed a "market perform" rating on shares of Tesla in a research report on Friday, September 5th. Robert W. Baird raised shares of Tesla from a "neutral" rating to an "outperform" rating and raised their target price for the stock from $320.00 to $548.00 in a research report on Friday, September 19th. Finally, JPMorgan Chase & Co. raised their target price on shares of Tesla from $115.00 to $150.00 in a research report on Friday, October 3rd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, twelve have given a Hold rating and eleven have assigned a Sell rating to the stock. According to MarketBeat, Tesla currently has a consensus rating of "Hold" and an average price target of $388.51.
Check Out Our Latest Stock Report on Tesla
Tesla Company Profile
(Free Report)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.
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