Cyndeo Wealth Partners LLC Sells 2,362 Shares of Tesla, Inc. $TSLA

Key Points

• Cyndeo Wealth Partners LLC reduced its stake in Tesla, selling 2,362 shares and lowering its holdings by 9.9%, now owning 21,447 shares valued at approximately $6.81 million.
• Insiders have recently sold a significant number of shares, with Xiaotong Zhu liquidating 20,000 shares worth over $7 million, indicating a notable decrease in their ownership.
• Analysts have varied perceptions of Tesla, with recent target prices ranging from $175.00 to $548.00, reflecting differing expectations about the company's performance.

Cyndeo Wealth Partners LLC lessened its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 9.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,447 shares of the electric vehicle producer's stock after selling 2,362 shares during the quarter. Cyndeo Wealth Partners LLC's holdings in Tesla were worth $6,813,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. L. Roy Papp & Associates LLP lifted its position in shares of Tesla by 2.6% in the second quarter. L. Roy Papp & Associates LLP now owns 2,613 shares of the electric vehicle producer's stock worth $830,000 after purchasing an additional 65 shares in the last quarter. Baskin Financial Services Inc. acquired a new position in Tesla during the second quarter worth $257,000. Galvin Gaustad & Stein LLC increased its holdings in Tesla by 106.0% during the second quarter. Galvin Gaustad & Stein LLC now owns 1,710 shares of the electric vehicle producer's stock worth $543,000 after buying an additional 880 shares during the last quarter. Cardano Risk Management B.V. increased its holdings in Tesla by 5.3% during the second quarter. Cardano Risk Management B.V. now owns 804,599 shares of the electric vehicle producer's stock worth $255,589,000 after buying an additional 40,625 shares during the last quarter. Finally, 3Chopt Investment Partners LLC increased its holdings in Tesla by 4.2% during the second quarter. 3Chopt Investment Partners LLC now owns 7,729 shares of the electric vehicle producer's stock worth $2,455,000 after buying an additional 310 shares during the last quarter. Institutional investors own 66.20% of the company's stock.

Insider Activity at Tesla

In related news, SVP Xiaotong Zhu sold 20,000 shares of the company'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 transaction, the senior vice president directly owned 47,600 shares in the company, valued at approximately $17,314,500. This represents a 29.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Vaibhav Taneja sold 2,606 shares of the company's 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 completion of the transaction, the chief financial officer owned 9,856 shares in the company, valued at $3,473,057.28. This trade represents a 20.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 202,606 shares of company stock worth $75,588,902. Corporate insiders own 19.90% of the company's stock.

Tesla Trading Down 5.1%

TSLA stock opened at $413.49 on Friday. 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 company's 50-day simple moving average is $375.97 and its 200 day simple moving average is $327.89. Tesla, Inc. has a 52 week low of $212.11 and a 52 week high of $488.54. The company has a market capitalization of $1.37 trillion, a PE ratio of 239.01, a price-to-earnings-growth ratio of 15.01 and a beta of 2.08.

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on TSLA shares. CICC Research boosted their target price on shares of Tesla from $360.00 to $450.00 and gave the stock an "outperform" rating in a report on Thursday, September 18th. William Blair restated a "market perform" rating on shares of Tesla in a report on Friday, September 5th. The Goldman Sachs Group boosted their target price on shares of Tesla from $395.00 to $425.00 and gave the stock a "neutral" rating in a report on Friday, October 3rd. Guggenheim restated a "sell" rating and set a $175.00 target price on shares of Tesla in a report on Wednesday, July 23rd. Finally, Robert W. Baird upgraded shares of Tesla from a "neutral" rating to an "outperform" rating and boosted their target price for the stock from $320.00 to $548.00 in a report on Friday, September 19th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, thirteen have assigned a Hold rating and eight have given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $354.67.

About Tesla

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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