Bernardo Wealth Planning LLC Trims Stock Position in Tesla, Inc. $TSLA

Bernardo Wealth Planning LLC decreased its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 10.1% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,542 shares of the electric vehicle producer’s stock after selling 399 shares during the quarter. Bernardo Wealth Planning LLC’s holdings in Tesla were worth $1,125,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in TSLA. Chelsea Counsel Co. lifted its stake in Tesla by 59.7% in the first quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock valued at $28,000 after buying an additional 40 shares during the last quarter. LGT Financial Advisors LLC acquired a new position in Tesla in the second quarter valued at $29,000. Evergreen Private Wealth LLC increased its holdings in shares of Tesla by 270.0% in the second quarter. Evergreen Private Wealth LLC now owns 111 shares of the electric vehicle producer’s stock valued at $35,000 after purchasing an additional 81 shares during the period. Glynn Capital Management LLC acquired a new position in Tesla in the 2nd quarter valued at $35,000. Finally, LSV Asset Management grew its holdings in shares of Tesla by 400.0% in the 2nd quarter. LSV Asset Management now owns 120 shares of the electric vehicle producer’s stock worth $38,000 after acquiring an additional 96 shares during the period. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Stock Up 0.8%

Shares of NASDAQ TSLA opened at $430.10 on Friday. The company has a market cap of $1.43 trillion, a P/E ratio of 286.73, a P/E/G ratio of 16.84 and a beta of 2.06. The company has a current ratio of 2.07, a quick ratio of 1.67 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a 12-month low of $214.25 and a 12-month high of $488.54. The stock has a fifty day moving average price of $433.95 and a 200 day moving average price of $369.19.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.02. The firm had revenue of $28.10 billion during the quarter, compared to analysts’ expectations of $24.98 billion. Tesla had a return on equity of 6.61% and a net margin of 5.51%.Tesla’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.72 EPS. Research analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Vaibhav Taneja sold 2,606 shares of the stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $352.38, for a total transaction of $918,302.28. Following the transaction, the chief financial officer owned 9,856 shares of the company’s stock, valued at approximately $3,473,057.28. This trade represents a 20.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Xiaotong Zhu sold 20,000 shares of the business’s stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $363.75, for a total value of $7,275,000.00. Following the completion of the sale, the senior vice president directly owned 47,600 shares of the company’s stock, valued at approximately $17,314,500. This represents a 29.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 82,606 shares of company stock worth $33,554,102. Insiders own 19.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on TSLA shares. Melius started coverage on shares of Tesla in a report on Monday, October 13th. They issued a “buy” rating and a $520.00 price target on the stock. HSBC reissued a “reduce” rating on shares of Tesla in a research note on Monday, November 17th. Benchmark reissued a “buy” rating on shares of Tesla in a research note on Thursday, October 23rd. Wall Street Zen raised shares of Tesla from a “sell” rating to a “hold” rating in a research note on Saturday, October 25th. Finally, Melius Research set a $520.00 price target on Tesla and gave the stock a “buy” rating in a research note on Monday, October 13th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, twelve have given a Hold rating and ten have given a Sell rating to the company’s stock. Based on data from MarketBeat, Tesla currently has an average rating of “Hold” and a consensus price target of $394.03.

Tesla Company 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.