Bulltick Wealth Management LLC Has $6.81 Million Position in Tesla, Inc. (NASDAQ:TSLA)

Bulltick Wealth Management LLC lessened its position in Tesla, Inc. (NASDAQ:TSLA) by 7.0% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 34,431 shares of the electric vehicle producer’s stock after selling 2,580 shares during the period. Tesla comprises approximately 1.7% of Bulltick Wealth Management LLC’s holdings, making the stock its 21st biggest holding. Bulltick Wealth Management LLC’s holdings in Tesla were worth $6,813,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. Bank & Trust Co bought a new position in shares of Tesla in the second quarter valued at approximately $25,000. Valley Wealth Managers Inc. bought a new position in Tesla in the 2nd quarter valued at $26,000. OLD Point Trust & Financial Services N A acquired a new position in Tesla in the fourth quarter worth $37,000. Guardian Wealth Management Inc. bought a new stake in shares of Tesla during the fourth quarter worth $47,000. Finally, Kessler Investment Group LLC increased its stake in shares of Tesla by 35.9% in the second quarter. Kessler Investment Group LLC now owns 193 shares of the electric vehicle producer’s stock valued at $38,000 after buying an additional 51 shares in the last quarter. Institutional investors own 66.20% of the company’s stock.

Tesla Price Performance

Shares of TSLA opened at $238.25 on Friday. The company has a quick ratio of 1.40, a current ratio of 1.91 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $271.00. The company has a 50 day moving average of $221.30 and a 200-day moving average of $195.84. The stock has a market capitalization of $759.83 billion, a P/E ratio of 60.78, a P/E/G ratio of 6.00 and a beta of 2.29.

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

Insider Activity

In other news, Director Robyn M. Denholm sold 66,364 shares of the firm’s stock in a transaction dated 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 completion of the sale, the director now owns 85,000 shares in the company, valued at approximately $18,696,600. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Tesla news, Director Robyn M. Denholm sold 66,364 shares of the company’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 transaction, the director now directly owns 85,000 shares of the company’s stock, valued at approximately $18,696,600. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction on Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the sale, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. The disclosure for this sale can be found here. Insiders own 25.10% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on TSLA. William Blair started coverage on shares of Tesla in a research report on Thursday, August 29th. They issued an “outperform” rating for the company. HSBC boosted their price objective on shares of Tesla from $120.00 to $130.00 in a research report on Wednesday, July 10th. Morgan Stanley reiterated an “overweight” rating and issued a $310.00 price objective on shares of Tesla in a research report on Thursday, September 5th. KGI Securities restated a “neutral” rating and set a $236.00 target price on shares of Tesla in a research report on Thursday, July 25th. Finally, Glj Research reiterated a “sell” rating and issued a $24.86 price target on shares of Tesla in a report on Thursday, September 5th. Nine investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $209.60.

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.