Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Revolve Wealth Partners LLC

Revolve Wealth Partners LLC lowered its position in Tesla, Inc. (NASDAQ:TSLA) by 4.4% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,388 shares of the electric vehicle producer’s stock after selling 202 shares during the quarter. Revolve Wealth Partners LLC’s holdings in Tesla were worth $868,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bank & Trust Co acquired a new position in shares of Tesla in the 2nd quarter valued at $25,000. OLD Point Trust & Financial Services N A purchased a new position in shares of Tesla during the fourth quarter worth about $37,000. Guardian Wealth Management Inc. acquired a new stake in shares of Tesla during the fourth quarter worth about $47,000. Kathleen S. Wright Associates Inc. lifted its holdings in shares of Tesla by 111.1% in the 4th quarter. Kathleen S. Wright Associates Inc. now owns 190 shares of the electric vehicle producer’s stock valued at $47,000 after purchasing an additional 100 shares during the last quarter. Finally, Kessler Investment Group LLC boosted its position in shares of Tesla by 35.9% in the 2nd quarter. Kessler Investment Group LLC now owns 193 shares of the electric vehicle producer’s stock valued at $38,000 after purchasing an additional 51 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Trading Up 0.9 %

NASDAQ TSLA traded up $1.98 during mid-day trading on Friday, reaching $216.12. 88,620,586 shares of the stock were exchanged, compared to its average volume of 90,901,848. The stock has a market capitalization of $689.25 billion, a PE ratio of 55.13, a PEG ratio of 5.22 and a beta of 2.31. 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 1-year low of $138.80 and a 1-year high of $278.98. The business’s fifty day simple moving average is $215.14 and its 200 day simple moving average is $190.97.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data 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). The business had revenue of $25.50 billion for 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%. Tesla’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.78 EPS. On average, research analysts anticipate that Tesla, Inc. will post 1.79 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Sanford C. Bernstein reissued an “underperform” rating and set a $120.00 price objective on shares of Tesla in a research report on Monday, June 10th. Wells Fargo & Company restated an “underweight” rating and issued a $120.00 price target on shares of Tesla in a research report on Monday, July 1st. Roth Mkm reaffirmed a “neutral” rating and set a $85.00 price objective on shares of Tesla in a research report on Wednesday, July 24th. Morgan Stanley reissued an “overweight” rating and issued a $310.00 target price on shares of Tesla in a report on Monday, July 29th. Finally, Robert W. Baird reiterated an “outperform” rating and issued a $280.00 price objective on shares of Tesla in a research report on Tuesday, July 16th. Nine investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $204.21.

Insider Activity

In related news, SVP Xiaotong Zhu sold 650 shares of the business’s stock in a transaction that occurred 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 sale, the senior vice president now directly owns 65,155 shares in the company, valued at $11,350,652.55. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Tesla news, SVP Xiaotong Zhu sold 650 shares of the business’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $174.21, for a total transaction of $113,236.50. Following the completion of the sale, the senior vice president now owns 65,155 shares of the company’s stock, valued at $11,350,652.55. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Robyn M. Denholm sold 66,364 shares of the firm’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 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. Corporate insiders own 25.10% of the company’s stock.

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.