Delap Wealth Advisory LLC Sells 3,284 Shares of Tesla, Inc. (NASDAQ:TSLA)

Delap Wealth Advisory LLC decreased its stake in Tesla, Inc. (NASDAQ:TSLA) by 71.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,293 shares of the electric vehicle producer’s stock after selling 3,284 shares during the period. Delap Wealth Advisory LLC’s holdings in Tesla were worth $256,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in TSLA. Clean Energy Transition LLP boosted its holdings in shares of Tesla by 347.7% in the 2nd quarter. Clean Energy Transition LLP now owns 4,818,600 shares of the electric vehicle producer’s stock worth $953,505,000 after purchasing an additional 6,764,300 shares in the last quarter. Strategic Financial Concepts LLC boosted its stake in Tesla by 21,816.0% in the second quarter. Strategic Financial Concepts LLC now owns 5,902,416 shares of the electric vehicle producer’s stock worth $1,167,970,000 after buying an additional 5,875,484 shares in the last quarter. Vanguard Group Inc. grew its position in Tesla by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 229,806,372 shares of the electric vehicle producer’s stock valued at $57,102,287,000 after acquiring an additional 3,866,361 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its stake in shares of Tesla by 2,101.1% during the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,469,190 shares of the electric vehicle producer’s stock worth $365,064,000 after acquiring an additional 1,402,443 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of Tesla by 12.9% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,849,425 shares of the electric vehicle producer’s stock worth $1,731,430,000 after acquiring an additional 1,125,329 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Activity

In related news, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction on Friday, September 6th. The stock was sold at an average price of $221.77, for a total transaction of $65,865.69. Following the sale, the senior vice president now directly owns 67,491 shares of the company’s stock, 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. In related 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 transaction of $14,597,425.44. Following the completion of the sale, 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 SEC, which can be accessed through this hyperlink. Also, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction dated 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 transaction, the senior vice president now directly owns 67,491 shares in the company, valued at approximately $14,967,479.07. The disclosure for this sale can be found here. Corporate insiders own 25.10% of the company’s stock.

Analysts Set New Price Targets

TSLA has been the topic of a number of analyst reports. Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a research report on Wednesday, July 24th. HSBC boosted their target price on Tesla from $120.00 to $130.00 in a research note on Wednesday, July 10th. Barclays reduced their price target on Tesla from $225.00 to $220.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 25th. Argus reiterated a “buy” rating and issued a $286.00 price objective on shares of Tesla in a research report on Friday, July 26th. Finally, The Goldman Sachs Group cut their target price on shares of Tesla from $248.00 to $230.00 and set a “neutral” rating on the stock in a report on Wednesday, July 24th. Nine analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $209.60.

Tesla Stock Performance

Tesla stock opened at $238.25 on Friday. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $271.00. 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 capitalization of $759.83 billion, a P/E ratio of 60.78, a PEG ratio of 6.00 and a beta of 2.29. The stock’s 50 day moving average is $221.30 and its 200 day moving average is $195.94.

Tesla (NASDAQ:TSLA) last released its 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 company had revenue of $25.50 billion during the quarter, compared to analysts’ expectations of $24.38 billion. Tesla had a return on equity of 10.41% and a net margin of 13.00%. The company’s revenue was up 2.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.78 earnings per share. On average, equities research analysts predict that Tesla, Inc. will post 1.75 earnings per share for the current fiscal year.

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.