Capstone Wealth Management Group LLC Has $531,000 Position in Tesla, Inc. (NASDAQ:TSLA)

Capstone Wealth Management Group LLC trimmed its stake in Tesla, Inc. (NASDAQ:TSLA) by 25.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,681 shares of the electric vehicle producer’s stock after selling 930 shares during the quarter. Capstone Wealth Management Group LLC’s holdings in Tesla were worth $531,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TSLA. Integris Wealth Management LLC grew its stake in shares of Tesla by 1.0% in the 2nd quarter. Integris Wealth Management LLC now owns 4,065 shares of the electric vehicle producer’s stock valued at $804,000 after buying an additional 42 shares during the period. Echo Wealth Management LLC increased its holdings in shares of Tesla by 0.7% during the second quarter. Echo Wealth Management LLC now owns 6,474 shares of the electric vehicle producer’s stock valued at $1,281,000 after acquiring an additional 44 shares in the last quarter. WASHINGTON TRUST Co raised its position in shares of 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 purchasing an additional 45 shares during the period. Bellevue Asset Management LLC lifted its holdings in shares of Tesla by 1.6% in the 2nd quarter. Bellevue Asset Management LLC now owns 2,868 shares of the electric vehicle producer’s stock worth $568,000 after purchasing an additional 45 shares in the last quarter. Finally, Cypress Capital Group grew its position in Tesla by 1.7% in the 2nd quarter. Cypress Capital Group now owns 2,806 shares of the electric vehicle producer’s stock valued at $555,000 after purchasing an additional 47 shares during the period. 66.20% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, SVP Xiaotong Zhu sold 297 shares of the business’s 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 completion of the transaction, the senior vice president now directly owns 67,491 shares in the company, valued at approximately $14,967,479.07. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Tesla news, Director Robyn M. Denholm sold 66,364 shares of Tesla stock in a transaction that occurred 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 in the company, valued at $18,696,600. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Xiaotong Zhu sold 297 shares of the 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 completion of 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. Corporate insiders own 25.10% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Guggenheim upped their price objective on shares of Tesla from $134.00 to $153.00 and gave the stock a “sell” rating in a report on Friday. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $295.00 price target on shares of Tesla in a research report on Tuesday, September 10th. HSBC boosted their price objective on Tesla from $120.00 to $130.00 in a report on Wednesday, July 10th. Glj Research restated a “sell” rating and issued a $24.86 target price on shares of Tesla in a report on Thursday, September 5th. Finally, KGI Securities reiterated a “neutral” rating and set a $236.00 price target on shares of Tesla in a report on Thursday, July 25th. Nine investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, Tesla has an average rating of “Hold” and a consensus price target of $209.60.

Tesla Stock Performance

NASDAQ:TSLA opened at $226.78 on Tuesday. The business’s fifty day moving average is $222.85 and its 200 day moving average is $194.75. The firm has a market cap of $723.25 billion, a price-to-earnings ratio of 57.85, a PEG ratio of 6.08 and a beta of 2.29. 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 52-week low of $138.80 and a 52-week high of $273.93.

Tesla (NASDAQ:TSLA) last announced its quarterly 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). Tesla had a net margin of 13.00% and a return on equity of 10.41%. The company had revenue of $25.50 billion for the quarter, compared to the consensus estimate of $24.38 billion. During the same quarter in the prior year, the company earned $0.78 earnings per share. The company’s quarterly revenue was up 2.3% on a year-over-year basis. Research analysts predict that Tesla, Inc. will post 1.75 EPS for the current year.

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.