Tesla, Inc. (NASDAQ:TSLA) Shares Sold by J.W. Cole Advisors Inc.

J.W. Cole Advisors Inc. lessened its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 19.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 35,835 shares of the electric vehicle producer's stock after selling 8,509 shares during the period. J.W. Cole Advisors Inc.'s holdings in Tesla were worth $7,091,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of Tesla by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 233,602,120 shares of the electric vehicle producer's stock valued at $41,064,917,000 after acquiring an additional 3,795,748 shares during the last quarter. Norges Bank purchased a new position in Tesla during the fourth quarter worth approximately $7,844,757,000. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of Tesla by 12.9% in 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 purchasing an additional 1,125,329 shares during the last quarter. Strategic Financial Concepts LLC grew its stake in shares of Tesla by 21,816.0% during 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. Finally, ARK Investment Management LLC increased its holdings in shares of Tesla by 2.6% during 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 buying an additional 135,966 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company's stock.

Tesla Stock Performance

TSLA stock traded up $0.48 during mid-day trading on Friday, reaching $230.29. The company had a trading volume of 59,362,320 shares, compared to its average volume of 73,655,344. Tesla, Inc. has a one year low of $138.80 and a one year high of $278.98. The stock has a market capitalization of $735.69 billion, a P/E ratio of 58.75, a P/E/G ratio of 6.08 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. The stock's 50-day simple moving average is $223.37 and its two-hundred day simple moving average is $194.63.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $25.50 billion during the quarter, compared to the consensus estimate of $24.38 billion. During the same quarter in the prior year, the business earned $0.78 earnings per share. The company's revenue for the quarter was up 2.3% compared to the same quarter last year. Research analysts anticipate that Tesla, Inc. will post 1.75 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on TSLA. New Street Research downgraded Tesla from a "buy" rating to a "neutral" rating and set a $225.00 price target for the company. in a research report on Wednesday, July 24th. The Goldman Sachs Group dropped their target price on shares of Tesla from $248.00 to $230.00 and set a "neutral" rating for the company in a research report on Wednesday, July 24th. Guggenheim lifted their price target on shares of Tesla from $134.00 to $153.00 and gave the company a "sell" rating in a research report on Friday. Mizuho increased their price objective on shares of Tesla from $180.00 to $230.00 and gave the stock a "neutral" rating in a research report on Friday, July 12th. Finally, Oppenheimer restated a "market perform" rating on shares of Tesla in a report on Tuesday, July 9th. Nine analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, Tesla has an average rating of "Hold" and a consensus price target of $209.60.

Insider Buying and Selling

In other Tesla news, Director Robyn M. Denholm sold 66,364 shares of Tesla stock in a transaction 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 sale, the director now owns 85,000 shares of the company's stock, valued at approximately $18,696,600. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Tesla news, Director Robyn M. Denholm sold 66,364 shares of the business's stock in a transaction dated 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 sale, the director now directly owns 85,000 shares in the company, valued at approximately $18,696,600. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction that occurred 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 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.

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.