Apollon Wealth Management LLC Sells 2,129 Shares of Tesla, Inc. $TSLA

Key Points

• Apollon Wealth Management LLC reduced its Tesla shares by 2.4%, now holding 84,955 shares valued at approximately $26.99 million following the sale of 2,129 shares in Q2.
• Significant insider transactions occurred, with Director James R. Murdoch selling 60,000 shares and a 20.91% decrease in CFO Vaibhav Taneja's stock ownership.
• Analysts have provided mixed ratings on Tesla, with a consensus rating of "Hold" and an average price target of $354.67 amidst stock fluctuations.

Apollon Wealth Management LLC lessened its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 2.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 84,955 shares of the electric vehicle producer's stock after selling 2,129 shares during the quarter. Apollon Wealth Management LLC's holdings in Tesla were worth $26,987,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Cherry Tree Wealth Management LLC raised its stake in shares of Tesla by 86.3% during the 1st quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock worth $25,000 after acquiring an additional 44 shares in the last quarter. First PREMIER Bank raised its stake in shares of Tesla by 79.2% during the 1st quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock worth $25,000 after acquiring an additional 42 shares in the last quarter. Arcadia Investment Management Corp MI bought a new position in shares of Tesla during the 1st quarter worth approximately $27,000. Newton One Investments LLC raised its stake in shares of Tesla by 250.0% during the 1st quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock worth $27,000 after acquiring an additional 75 shares in the last quarter. Finally, Chelsea Counsel Co. raised its stake in shares of Tesla by 59.7% during the 1st quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer's stock worth $28,000 after acquiring an additional 40 shares in the last quarter. Institutional investors own 66.20% of the company's stock.

Insider Transactions at Tesla

In other news, Director James R. Murdoch sold 60,000 shares of the stock in a transaction on Monday, September 15th. The shares were sold at an average price of $422.68, for a total value of $25,360,800.00. Following the sale, the director owned 637,031 shares in the company, valued at $269,260,263.08. This represents a 8.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Vaibhav Taneja sold 2,606 shares of the stock in a transaction on Monday, September 8th. The stock was sold at an average price of $352.38, for a total transaction of $918,302.28. Following the completion of the sale, the chief financial officer owned 9,856 shares in the company, valued at $3,473,057.28. The trade was a 20.91% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 202,606 shares of company stock worth $75,588,902 over the last 90 days. 19.90% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts recently commented on TSLA shares. China Renaissance reiterated a "hold" rating and set a $349.00 price objective on shares of Tesla in a research note on Friday, July 25th. Benchmark restated a "buy" rating and set a $475.00 price target (up previously from $350.00) on shares of Tesla in a research note on Thursday, June 26th. Weiss Ratings restated a "hold (c)" rating on shares of Tesla in a research note on Wednesday, October 8th. CICC Research upped their price target on shares of Tesla from $360.00 to $450.00 and gave the company an "outperform" rating in a research note on Thursday, September 18th. Finally, UBS Group set a $247.00 price target on shares of Tesla in a research note on Monday, October 6th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, thirteen have issued a Hold rating and eight have given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $354.67.

Tesla Stock Down 5.1%

NASDAQ:TSLA opened at $413.49 on Monday. The firm has a market capitalization of $1.37 trillion, a P/E ratio of 239.01, a PEG ratio of 14.92 and a beta of 2.08. Tesla, Inc. has a 1-year low of $212.11 and a 1-year high of $488.54. The company's fifty day moving average price is $375.97 and its 200-day moving average price is $328.28. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share for the quarter, missing analysts' consensus estimates of $0.43 by ($0.03). The business had revenue of $22.50 billion during the quarter, compared to analyst estimates of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%.The firm's revenue was down 11.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.52 EPS. As a group, equities research analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current year.

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.

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