Founders Financial Alliance LLC Sells 98 Shares of Tesla, Inc. (NASDAQ:TSLA)

Founders Financial Alliance LLC decreased its position in Tesla, Inc. (NASDAQ:TSLA) by 5.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,630 shares of the electric vehicle producer’s stock after selling 98 shares during the quarter. Founders Financial Alliance LLC’s holdings in Tesla were worth $323,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in TSLA. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in shares of Tesla by 60.2% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 549,008 shares of the electric vehicle producer’s stock worth $108,638,000 after buying an additional 206,248 shares during the last quarter. Morse Asset Management Inc grew its stake in shares of Tesla by 138.1% in the second quarter. Morse Asset Management Inc now owns 5,969 shares of the electric vehicle producer’s stock worth $1,181,000 after acquiring an additional 3,462 shares during the last quarter. Newbridge Financial Services Group Inc. increased its holdings in shares of Tesla by 7.4% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 28,222 shares of the electric vehicle producer’s stock valued at $7,013,000 after acquiring an additional 1,943 shares in the last quarter. Entropy Technologies LP purchased a new position in shares of Tesla in the 1st quarter worth about $1,941,000. Finally, Future Financial Wealth Managment LLC bought a new position in Tesla in the 1st quarter worth about $79,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Activity

In related news, CFO Vaibhav Taneja sold 8,000 shares of the business’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $250.00, for a total value of $2,000,000.00. Following the sale, the chief financial officer now directly owns 105,032 shares in the company, valued at $26,258,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CFO Vaibhav Taneja sold 8,000 shares of the firm’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $250.00, for a total value of $2,000,000.00. Following the completion of the transaction, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at $26,258,000. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 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 transaction of $14,597,425.44. Following the sale, the director now directly owns 85,000 shares in the company, valued at approximately $18,696,600. The disclosure for this sale can be found here. Insiders sold a total of 74,661 shares of company stock worth $16,663,291 over the last 90 days. Corporate insiders own 25.10% of the company’s stock.

Tesla Trading Down 1.4 %

TSLA stock opened at $258.02 on Wednesday. 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, Inc. has a 1-year low of $138.80 and a 1-year high of $271.00. The business has a 50 day simple moving average of $222.33 and a two-hundred day simple moving average of $200.24. The company has a market capitalization of $824.28 billion, a price-to-earnings ratio of 65.82, a PEG ratio of 7.08 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). The company had revenue of $25.50 billion for the quarter, compared to the consensus estimate of $24.38 billion. Tesla had a return on equity of 10.41% and a net margin of 13.00%. Tesla’s revenue was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.78 EPS. Research analysts anticipate that Tesla, Inc. will post 1.75 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have issued reports on TSLA shares. Glj Research reaffirmed a “sell” rating and issued a $24.86 target price on shares of Tesla in a report on Thursday, September 26th. Truist Financial reaffirmed a “hold” rating and issued a $215.00 price objective on shares of Tesla in a research report on Wednesday, August 14th. Cantor Fitzgerald reissued a “neutral” rating and issued a $245.00 target price on shares of Tesla in a report on Monday. Wedbush restated an “outperform” rating and issued a $300.00 price target on shares of Tesla in a research note on Wednesday, July 24th. Finally, The Goldman Sachs Group dropped their price objective on Tesla from $248.00 to $230.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 24th. Nine investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $209.90.

Tesla 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.