Benjamin Edwards Inc. Has $8.65 Million Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Benjamin Edwards Inc. decreased its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 22.3% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 33,389 shares of the electric vehicle producer's stock after selling 9,605 shares during the quarter. Benjamin Edwards Inc.'s holdings in Tesla were worth $8,653,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in TSLA. True Wealth Design LLC increased its position in shares of Tesla by 79.5% during the 4th quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock worth $28,000 after purchasing an additional 31 shares in the last quarter. Navigoe LLC acquired a new stake in shares of Tesla during the 4th quarter worth about $37,000. Cherry Tree Wealth Management LLC increased its position 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 purchasing an additional 44 shares in the last quarter. First PREMIER Bank increased its position 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 purchasing an additional 42 shares in the last quarter. Finally, Marshall & Sterling Wealth Advisors Inc. acquired a new stake in shares of Tesla during the 4th quarter worth about $39,000. Institutional investors and hedge funds own 66.20% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Daiwa Capital Markets reiterated a "neutral" rating on shares of Tesla in a research report on Sunday, July 27th. Piper Sandler reiterated an "overweight" rating and set a $400.00 target price on shares of Tesla in a research report on Tuesday, June 10th. Wedbush reiterated an "outperform" rating and set a $500.00 target price on shares of Tesla in a research report on Monday, August 4th. Royal Bank Of Canada reiterated an "overweight" rating on shares of Tesla in a research report on Tuesday, July 29th. Finally, Raymond James Financial downgraded shares of Tesla to an "outperform" rating in a research report on Tuesday, April 22nd. Ten equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Tesla currently has an average rating of "Hold" and an average price target of $303.31.

Insider Buying and Selling at Tesla

In other news, CFO Vaibhav Taneja sold 6,000 shares of the firm's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $341.02, for a total transaction of $2,046,120.00. Following the completion of the transaction, the chief financial officer directly owned 1,950 shares of the company's stock, valued at $664,989. This trade represents a 75.47% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of the firm's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $357.30, for a total transaction of $170,636,475.60. Following the transaction, the director directly owned 855,394 shares of the company's stock, valued at $305,632,276.20. This represents a 35.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 602,724 shares of company stock valued at $214,176,831 over the last quarter. Insiders own 20.70% of the company's stock.

Tesla Price Performance

NASDAQ TSLA opened at $329.61 on Friday. The business has a 50 day simple moving average of $318.68 and a 200 day simple moving average of $307.45. Tesla, Inc. has a 52-week low of $194.67 and a 52-week high of $488.54. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04. The stock has a market cap of $1.06 trillion, a price-to-earnings ratio of 190.53, a PEG ratio of 11.58 and a beta of 2.33.

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

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.

Want to see what other hedge funds are holding TSLA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tesla, Inc. (NASDAQ:TSLA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.