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

Founders Financial Alliance LLC lowered its position in Tesla, Inc. (NASDAQ:TSLA) by 5.7% during the 2nd quarter, HoldingsChannel reports. The fund owned 1,630 shares of the electric vehicle producer’s stock after selling 98 shares during the period. Founders Financial Alliance LLC’s holdings in Tesla were worth $323,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Tesla by 1.7% during the first quarter. Vanguard Group Inc. now owns 233,602,120 shares of the electric vehicle producer’s stock valued at $41,064,917,000 after purchasing an additional 3,795,748 shares during the period. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in Tesla by 12.9% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,849,425 shares of the electric vehicle producer’s stock valued at $1,731,430,000 after buying an additional 1,125,329 shares in the last quarter. Strategic Financial Concepts LLC boosted its position in Tesla by 21,816.0% in the 2nd quarter. Strategic Financial Concepts LLC now owns 5,902,416 shares of the electric vehicle producer’s stock valued at $1,167,970,000 after buying an additional 5,875,484 shares during the period. ARK Investment Management LLC grew its stake in Tesla by 2.6% in the 2nd quarter. ARK Investment Management LLC now owns 5,314,395 shares of the electric vehicle producer’s stock worth $1,051,613,000 after acquiring an additional 135,966 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Tesla by 9.1% during the second quarter. Dimensional Fund Advisors LP now owns 4,959,699 shares of the electric vehicle producer’s stock worth $981,443,000 after acquiring an additional 412,872 shares during the period. Institutional investors own 66.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on TSLA. UBS Group lowered Tesla from a “neutral” rating to a “sell” rating and boosted their price target for the company from $147.00 to $197.00 in a report on Friday, July 12th. Truist Financial restated a “hold” rating and set a $215.00 price target on shares of Tesla in a research note on Wednesday, August 14th. Sanford C. Bernstein restated an “underperform” rating and issued a $120.00 price objective on shares of Tesla in a report on Monday, June 10th. Wolfe Research assumed coverage on shares of Tesla in a report on Thursday, September 5th. They set a “peer perform” rating on the stock. Finally, New Street Research lowered shares of Tesla from a “buy” rating to a “neutral” rating and set a $225.00 price target for the company. in a report on Wednesday, July 24th. Nine investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Tesla presently has an average rating of “Hold” and an average target price of $209.90.

Tesla Stock Performance

Shares of NASDAQ:TSLA opened at $258.02 on Wednesday. The business’s 50 day moving average price is $222.33 and its 200-day moving average price is $200.24. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $271.00. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.91 and a quick ratio of 1.40. The firm has a market capitalization of $824.28 billion, a PE ratio of 65.82, a P/E/G ratio of 7.08 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 analysts’ consensus estimates of $0.62 by ($0.10). Tesla had a return on equity of 10.41% and a net margin of 13.00%. The business had revenue of $25.50 billion for the quarter, compared to analysts’ expectations of $24.38 billion. During the same period in the previous year, the company earned $0.78 EPS. Tesla’s quarterly revenue was up 2.3% compared to the same quarter last year. As a group, equities research analysts expect that Tesla, Inc. will post 1.75 earnings per share for the current fiscal year.

Insider Transactions at Tesla

In related news, Director Robyn M. Denholm sold 66,364 shares of the 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 owns 85,000 shares of the company’s stock, valued at $18,696,600. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Tesla news, Director Robyn M. Denholm sold 66,364 shares of the firm’s stock in a transaction 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 of the company’s stock, valued at approximately $18,696,600. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Xiaotong Zhu sold 297 shares of the business’s 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 directly owns 67,491 shares in the company, valued at approximately $14,967,479.07. The disclosure for this sale can be found here. Insiders have sold a total of 74,661 shares of company stock worth $16,663,291 in the last ninety days. Insiders own 25.10% of the company’s stock.

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.