Tesla, Inc. (NASDAQ:TSLA) Position Lessened by ProShare Advisors LLC

ProShare Advisors LLC reduced its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 8.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,997,123 shares of the electric vehicle producer’s stock after selling 191,153 shares during the quarter. Tesla comprises approximately 1.1% of ProShare Advisors LLC’s holdings, making the stock its 11th largest position. ProShare Advisors LLC owned 0.06% of Tesla worth $395,191,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Bank & Trust Co bought a new position in shares of Tesla during the second quarter worth about $25,000. Valley Wealth Managers Inc. bought a new position in Tesla in the 2nd quarter worth about $26,000. OLD Point Trust & Financial Services N A acquired a new stake in shares of Tesla in the fourth quarter valued at approximately $37,000. Kessler Investment Group LLC raised its holdings in shares of Tesla by 35.9% during 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 during the last quarter. Finally, Aspect Partners LLC raised its holdings in shares of Tesla by 121.3% during the second quarter. Aspect Partners LLC now owns 208 shares of the electric vehicle producer’s stock valued at $41,000 after buying an additional 114 shares during the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Tesla

In related news, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction that occurred 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 transaction, the senior vice president now owns 67,491 shares in the company, valued at $14,967,479.07. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Tesla news, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction on 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 directly owns 67,491 shares of the company’s stock, valued at $14,967,479.07. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Robyn M. Denholm sold 66,364 shares of the business’s stock in a transaction dated 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 of the company’s stock, 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.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. UBS Group cut Tesla from a “neutral” rating to a “sell” rating and raised their target price for the company from $147.00 to $197.00 in a research report on Friday, July 12th. William Blair initiated coverage on shares of Tesla in a report on Thursday, August 29th. They issued an “outperform” rating for the company. Wedbush reissued an “outperform” rating and set a $300.00 target price on shares of Tesla in a research note on Wednesday, July 24th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $254.00 price target on shares of Tesla in a research note on Friday, September 13th. Finally, Truist Financial reiterated a “hold” rating and set a $215.00 price objective on shares of Tesla in a research note on Wednesday, August 14th. Nine equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $209.60.

Tesla Stock Performance

Shares of TSLA opened at $238.25 on Friday. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $271.00. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.40 and a current ratio of 1.91. The company has a market capitalization of $759.83 billion, a PE ratio of 60.78, a PEG ratio of 6.00 and a beta of 2.29. The company’s 50 day moving average price is $221.30 and its 200 day moving average price is $195.94.

Tesla (NASDAQ:TSLA) last posted its quarterly 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 during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period last year, the company posted $0.78 earnings per share. Research analysts expect that Tesla, Inc. will post 1.75 EPS for the current fiscal year.

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.