Marshall Financial Group LLC Lowers Position in Tesla, Inc. (NASDAQ:TSLA)

Marshall Financial Group LLC decreased its position in Tesla, Inc. (NASDAQ:TSLA) by 75.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,454 shares of the electric vehicle producer’s stock after selling 7,417 shares during the period. Marshall Financial Group LLC’s holdings in Tesla were worth $486,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Echo Wealth Management LLC boosted its holdings in Tesla by 0.7% during the second quarter. Echo Wealth Management LLC now owns 6,474 shares of the electric vehicle producer’s stock worth $1,281,000 after buying an additional 44 shares in the last quarter. WASHINGTON TRUST Co boosted its holdings in Tesla by 3.2% during the second quarter. WASHINGTON TRUST Co now owns 1,433 shares of the electric vehicle producer’s stock worth $284,000 after buying an additional 45 shares in the last quarter. Keystone Wealth Services LLC boosted its holdings in Tesla by 0.8% during the second quarter. Keystone Wealth Services LLC now owns 5,993 shares of the electric vehicle producer’s stock worth $1,186,000 after buying an additional 49 shares in the last quarter. West Paces Advisors Inc. boosted its holdings in Tesla by 5.9% during the second quarter. West Paces Advisors Inc. now owns 901 shares of the electric vehicle producer’s stock worth $178,000 after buying an additional 50 shares in the last quarter. Finally, Kessler Investment Group LLC boosted its holdings in Tesla by 35.9% during the second quarter. Kessler Investment Group LLC now owns 193 shares of the electric vehicle producer’s stock worth $38,000 after buying an additional 51 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Wall Street Analysts Forecast Growth

TSLA has been the topic of a number of research analyst reports. Sanford C. Bernstein reissued an “underperform” rating and set a $120.00 price objective on shares of Tesla in a report on Monday, June 10th. Morgan Stanley reaffirmed an “overweight” rating and issued a $310.00 price target on shares of Tesla in a report on Monday, July 29th. UBS Group downgraded shares of Tesla from a “neutral” rating to a “sell” rating and upped their price target for the company from $147.00 to $197.00 in a report on Friday, July 12th. HSBC upped their price target on shares of Tesla from $120.00 to $130.00 in a report on Wednesday, July 10th. Finally, Bank of America raised shares of Tesla from a “neutral” rating to a “buy” rating and set a $220.00 price target on the stock in a report on Wednesday, April 24th. Nine equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $204.21.

Insider Activity

In other news, SVP Xiaotong Zhu sold 650 shares of the company’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $174.21, for a total value of $113,236.50. Following the completion of the transaction, the senior vice president now directly owns 65,155 shares in the company, valued at $11,350,652.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, SVP Xiaotong Zhu sold 650 shares of the company’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $174.21, for a total value of $113,236.50. Following the completion of the transaction, the senior vice president now directly owns 65,155 shares in the company, valued at $11,350,652.55. The sale 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 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 transaction, the director now owns 85,000 shares in the company, valued at $18,696,600. The disclosure for this sale can be found here. Insiders own 25.10% of the company’s stock.

Tesla Price Performance

TSLA opened at $217.05 on Monday. 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 52-week low of $138.80 and a 52-week high of $278.98. The company has a 50 day moving average of $215.14 and a two-hundred day moving average of $190.99. The company has a market cap of $692.21 billion, a P/E ratio of 55.13, a P/E/G ratio of 5.22 and a beta of 2.31.

Tesla (NASDAQ:TSLA) last announced its earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.10). The firm had revenue of $25.50 billion during the quarter, compared to analysts’ expectations of $24.38 billion. Tesla had a net margin of 13.00% and a return on equity of 10.41%. Tesla’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.78 earnings per share. On average, analysts expect that Tesla, Inc. will post 1.79 earnings per share for the current year.

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.