Diversify Wealth Management LLC Sells 10,599 Shares of Tesla, Inc. (NASDAQ:TSLA)

Diversify Wealth Management LLC lessened its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 42.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 14,351 shares of the electric vehicle producer's stock after selling 10,599 shares during the quarter. Diversify Wealth Management LLC's holdings in Tesla were worth $3,719,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. True Wealth Design LLC increased its stake in shares of Tesla by 79.5% in the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock worth $28,000 after acquiring an additional 31 shares during the last quarter. Horrell Capital Management Inc. increased its stake in shares of Tesla by 75.6% in the fourth quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer's stock worth $32,000 after acquiring an additional 34 shares during the last quarter. GS Investments Inc. increased its stake in shares of Tesla by 193.3% in the fourth quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer's stock worth $36,000 after acquiring an additional 58 shares during the last quarter. Navigoe LLC acquired a new position in shares of Tesla in the fourth quarter worth $37,000. Finally, CoreFirst Bank & Trust bought a new stake in Tesla in the fourth quarter worth $38,000. Institutional investors and hedge funds own 66.20% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. The Goldman Sachs Group decreased their price objective on shares of Tesla from $315.00 to $285.00 and set a "neutral" rating for the company in a report on Friday. Canaccord Genuity Group reiterated a "buy" rating and issued a $303.00 price objective on shares of Tesla in a report on Monday, June 30th. Robert W. Baird reiterated a "neutral" rating and issued a $320.00 price objective on shares of Tesla in a report on Monday, June 9th. HSBC restated a "reduce" rating and set a $120.00 price target on shares of Tesla in a report on Thursday, July 3rd. Finally, UBS Group set a $290.00 price target on shares of Tesla in a report on Monday, June 30th. Ten equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Tesla currently has an average rating of "Hold" and a consensus price target of $300.19.

Tesla Stock Up 1.2%

Shares of Tesla stock traded up $3.64 during trading hours on Friday, reaching $313.51. 78,861,329 shares of the company's stock were exchanged, compared to its average volume of 99,821,915. The company has a current ratio of 2.00, a quick ratio of 1.54 and a debt-to-equity ratio of 0.07. The company has a 50 day moving average of $322.07 and a two-hundred day moving average of $322.26. The stock has a market cap of $1.01 trillion, a P/E ratio of 172.26, a P/E/G ratio of 9.22 and a beta of 2.39. Tesla, Inc. has a fifty-two week low of $182.00 and a fifty-two week high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.26). The company had revenue of $19.34 billion during the quarter, compared to the consensus estimate of $22.93 billion. Tesla had a net margin of 6.66% and a return on equity of 9.02%. During the same period in the prior year, the company earned $0.45 earnings per share. On average, sell-side analysts forecast that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Activity

In related news, SVP Xiaotong Zhu sold 15,000 shares of the stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $323.81, for a total transaction of $4,857,150.00. Following the sale, the senior vice president owned 67,600 shares in the company, valued at approximately $21,889,556. This trade represents a 18.16% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of the 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 sale, the director owned 855,394 shares in the company, valued at $305,632,276.20. This represents a 35.83% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 835,509 shares of company stock worth $279,420,485. Insiders own 20.70% of the company's stock.

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.