Mark Sheptoff Financial Planning LLC Sells 840 Shares of Tesla, Inc. (NASDAQ:TSLA)

Mark Sheptoff Financial Planning LLC lessened its position in Tesla, Inc. (NASDAQ:TSLA) by 7.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,849 shares of the electric vehicle producer’s stock after selling 840 shares during the period. Tesla comprises about 1.2% of Mark Sheptoff Financial Planning LLC’s portfolio, making the stock its 16th largest holding. Mark Sheptoff Financial Planning LLC’s holdings in Tesla were worth $2,147,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of TSLA. LJI Wealth Management LLC bought a new position in shares of Tesla during the 2nd quarter worth approximately $391,000. Intrepid Financial Planning Group LLC bought a new stake in shares of Tesla during the 2nd quarter worth about $223,000. Paces Ferry Wealth Advisors LLC grew its stake in Tesla by 8.4% in the 2nd quarter. Paces Ferry Wealth Advisors LLC now owns 4,370 shares of the electric vehicle producer’s stock valued at $865,000 after buying an additional 340 shares during the last quarter. Sienna Gestion grew its stake in Tesla by 0.6% in the 2nd quarter. Sienna Gestion now owns 68,542 shares of the electric vehicle producer’s stock valued at $13,557,000 after buying an additional 405 shares during the last quarter. Finally, Seven Eight Capital LP bought a new position in Tesla in the 2nd quarter valued at about $1,680,000. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Tesla Stock Down 0.3 %

Shares of NASDAQ TSLA opened at $227.20 on Thursday. The company’s 50 day moving average price is $221.44 and its 200-day moving average price is $195.15. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.40 and a current ratio of 1.91. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $273.93. The company has a market capitalization of $725.82 billion, a P/E ratio of 57.96, a price-to-earnings-growth ratio of 6.00 and a beta of 2.29.

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

Insider Activity at Tesla

In other Tesla news, Director Robyn M. Denholm sold 66,364 shares of Tesla stock in a transaction that occurred 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 sale, the director now directly owns 85,000 shares in the company, valued at $18,696,600. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, 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 transaction of $65,865.69. Following the transaction, the senior vice president now owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 value of $14,597,425.44. Following the completion of the sale, the director now owns 85,000 shares of the company’s stock, valued at $18,696,600. The disclosure for this sale can be found here. 25.10% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on TSLA. Piper Sandler reaffirmed an “overweight” rating and issued a $300.00 target price on shares of Tesla in a research report on Monday, August 19th. Oppenheimer reaffirmed a “market perform” rating on shares of Tesla in a report on Tuesday, July 9th. Morgan Stanley reissued an “overweight” rating and set a $310.00 target price on shares of Tesla in a report on Thursday, September 5th. Cantor Fitzgerald restated a “neutral” rating and issued a $245.00 price target on shares of Tesla in a research note on Monday. Finally, Royal Bank of Canada dropped their price objective on shares of Tesla from $227.00 to $224.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Nine research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $209.60.

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.