Carolinas Wealth Consulting LLC Trims Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Carolinas Wealth Consulting LLC cut its position in Tesla, Inc. (NASDAQ:TSLA) by 17.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,331 shares of the electric vehicle producer’s stock after selling 941 shares during the quarter. Carolinas Wealth Consulting LLC’s holdings in Tesla were worth $857,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Wall Street Analyst Weigh In

TSLA has been the subject of a number of research reports. UBS Group cut shares of Tesla from a “neutral” rating to a “sell” rating and boosted their price target for the stock from $147.00 to $197.00 in a research note on Friday, July 12th. HSBC increased their target price on Tesla from $120.00 to $130.00 in a research note on Wednesday, July 10th. Guggenheim lifted their price target on Tesla from $134.00 to $153.00 and gave the stock a “sell” rating in a research note on Friday, September 13th. Wolfe Research started coverage on Tesla in a research report on Thursday, September 5th. They set a “peer perform” rating on the stock. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $245.00 price objective on shares of Tesla in a report on Monday. Nine equities research 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. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $209.60.

Tesla Stock Performance

Shares of Tesla stock opened at $227.20 on Thursday. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $273.93. The firm’s 50-day moving average is $221.44 and its 200 day moving average is $195.15. The stock has a market cap of $725.82 billion, a price-to-earnings ratio of 57.96, a PEG ratio of 6.00 and a beta of 2.29. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.91 and a quick ratio of 1.40.

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

Insider Buying and Selling at Tesla

In other news, Director Robyn M. Denholm sold 66,364 shares of the business’s stock in a transaction on 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 transaction, the director now owns 85,000 shares in the company, valued at $18,696,600. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $221.77, for a total value 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robyn M. Denholm sold 66,364 shares of the stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the transaction, the director now owns 85,000 shares in the company, valued at approximately $18,696,600. The disclosure for this sale can be found here. Company insiders own 25.10% of the company’s stock.

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.