Van Hulzen Asset Management LLC Sells 2,945 Shares of Tesla, Inc. (NASDAQ:TSLA)

Van Hulzen Asset Management LLC trimmed its holdings in Tesla, Inc. (NASDAQ:TSLA) by 3.8% during the second quarter, Holdings Channel reports. The institutional investor owned 75,219 shares of the electric vehicle producer’s stock after selling 2,945 shares during the quarter. Tesla makes up about 1.0% of Van Hulzen Asset Management LLC’s holdings, making the stock its 29th largest position. Van Hulzen Asset Management LLC’s holdings in Tesla were worth $14,884,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Bank & Trust Co bought a new position in shares of Tesla during the second quarter valued at about $25,000. OLD Point Trust & Financial Services N A purchased a new stake in Tesla during the fourth quarter worth about $37,000. Kessler Investment Group LLC increased 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 during the last quarter. Aspect Partners LLC increased its holdings in Tesla by 121.3% during the second quarter. Aspect Partners LLC now owns 208 shares of the electric vehicle producer’s stock worth $41,000 after buying an additional 114 shares during the last quarter. Finally, 1620 Investment Advisors Inc. purchased a new stake in Tesla during the second quarter worth about $42,000. 66.20% of the stock is owned by institutional investors.

Insider Transactions at Tesla

In related 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 transaction of $14,597,425.44. Following the completion of the transaction, the director now directly owns 85,000 shares in the company, valued at approximately $18,696,600. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Robyn M. Denholm sold 66,364 shares of the business’s 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 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 link. Also, SVP Xiaotong Zhu sold 297 shares of the company’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $221.77, for a total transaction of $65,865.69. Following the sale, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at $14,967,479.07. The disclosure for this sale can be found here. Corporate insiders own 25.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on TSLA shares. Royal Bank of Canada cut their price objective on shares of Tesla from $227.00 to $224.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Morgan Stanley reiterated an “overweight” rating and set a $310.00 target price on shares of Tesla in a research report on Thursday, September 5th. Barclays dropped their target price on shares of Tesla from $225.00 to $220.00 and set an “equal weight” rating for the company in a research report on Thursday, July 25th. Cantor Fitzgerald restated a “neutral” rating and issued a $245.00 price objective on shares of Tesla in a report on Monday. Finally, Wolfe Research initiated coverage on shares of Tesla in a research note on Thursday, September 5th. They issued a “peer perform” rating on the stock. 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 company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $209.03.

Tesla Trading Up 2.6 %

TSLA opened at $216.27 on Tuesday. The firm has a market cap of $690.90 billion, a P/E ratio of 55.17, a P/E/G ratio of 5.57 and a beta of 2.29. 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 business has a fifty day simple moving average of $224.59 and a 200-day simple moving average of $193.72.

Tesla (NASDAQ:TSLA) last posted its earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 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 firm had revenue of $25.50 billion for the quarter, compared to analyst estimates of $24.38 billion. During the same quarter last year, the firm posted $0.78 EPS. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. On average, equities analysts expect that Tesla, Inc. will post 1.75 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.