TRUE Private Wealth Advisors bought a new position in shares of Tesla Inc (NASDAQ:TSLA) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 702 shares of the electric vehicle producer’s stock, valued at approximately $156,000.

A number of other institutional investors also recently bought and sold shares of the stock. Mackey Komara & Dankovich LLC grew its holdings in Tesla by 493.3% in the first quarter. Mackey Komara & Dankovich LLC now owns 89 shares of the electric vehicle producer’s stock valued at $25,000 after purchasing an additional 74 shares during the period. Clarus Wealth Advisors grew its holdings in Tesla by 83.3% in the second quarter. Clarus Wealth Advisors now owns 110 shares of the electric vehicle producer’s stock valued at $25,000 after purchasing an additional 50 shares during the period. Trustcore Financial Services LLC grew its holdings in Tesla by 121.8% in the second quarter. Trustcore Financial Services LLC now owns 122 shares of the electric vehicle producer’s stock valued at $27,000 after purchasing an additional 67 shares during the period. Mizuho Securities Co. Ltd. acquired a new stake in Tesla in the first quarter valued at approximately $28,000. Finally, Coastal Capital Group Inc. acquired a new stake in Tesla in the second quarter valued at approximately $32,000. 54.88% of the stock is currently owned by hedge funds and other institutional investors.

In other news, CFO Zachary Kirkhorn sold 150 shares of Tesla stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $255.68, for a total value of $38,352.00. Following the completion of the sale, the chief financial officer now directly owns 9,962 shares of the company’s stock, valued at $2,547,084.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Antonio J. Gracias sold 33,766 shares of Tesla stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $180.35, for a total value of $6,089,698.10. Following the completion of the sale, the director now directly owns 14,232 shares of the company’s stock, valued at $2,566,741.20. The disclosure for this sale can be found here. Insiders sold 78,916 shares of company stock valued at $15,785,800 over the last ninety days. Insiders own 24.40% of the company’s stock.

Shares of NASDAQ TSLA traded down $5.22 during trading on Thursday, reaching $214.40. The stock had a trading volume of 353,399 shares, compared to its average volume of 7,863,795. Tesla Inc has a fifty-two week low of $176.99 and a fifty-two week high of $379.49. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.71 and a current ratio of 1.06. The stock has a 50-day moving average price of $237.19. The stock has a market capitalization of $41.02 billion, a P/E ratio of -37.52 and a beta of 0.60.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, July 24th. The electric vehicle producer reported ($2.31) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($1.55) by ($0.76). Tesla had a negative net margin of 2.64% and a negative return on equity of 11.42%. The firm had revenue of $6.35 billion during the quarter, compared to analyst estimates of $6.44 billion. During the same period in the previous year, the firm posted ($3.06) earnings per share. The company’s quarterly revenue was up 58.7% compared to the same quarter last year. Research analysts expect that Tesla Inc will post -7.51 earnings per share for the current fiscal year.

Several brokerages have commented on TSLA. Needham & Company LLC reissued a “sell” rating on shares of Tesla in a report on Sunday, July 7th. Sanford C. Bernstein set a $325.00 price objective on Tesla and gave the company a “neutral” rating in a report on Thursday, April 25th. Canaccord Genuity dropped their price objective on Tesla from $394.00 to $350.00 and set a “buy” rating on the stock in a report on Thursday, July 25th. Berenberg Bank reissued a “buy” rating on shares of Tesla in a report on Friday, June 14th. Finally, Roth Capital restated a “neutral” rating and issued a $238.00 target price on shares of Tesla in a research report on Monday, July 22nd. Eighteen equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and thirteen have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $269.53.

Tesla Company Profile

Tesla, Inc designs, develops, manufactures, and sells electric vehicles, and energy generation and storage systems in the United States, China, Netherlands, Norway, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers sedans and sport utility vehicles.

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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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