Falcon Wealth Planning Sells 9,825 Shares of Tesla, Inc. (NASDAQ:TSLA)

Falcon Wealth Planning reduced its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 43.0% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 13,002 shares of the electric vehicle producer's stock after selling 9,825 shares during the period. Tesla accounts for approximately 0.4% of Falcon Wealth Planning's holdings, making the stock its 28th largest holding. Falcon Wealth Planning's holdings in Tesla were worth $3,369,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. True Wealth Design LLC boosted its position in shares of Tesla by 79.5% in 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 during the last quarter. Horrell Capital Management Inc. boosted its position in shares of Tesla by 75.6% in the 4th quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer's stock worth $32,000 after purchasing an additional 34 shares during the last quarter. GS Investments Inc. boosted its position in shares of Tesla by 193.3% in the 4th quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer's stock worth $36,000 after purchasing an additional 58 shares during the last quarter. Navigoe LLC bought a new position in shares of Tesla in the 4th quarter worth $37,000. Finally, CoreFirst Bank & Trust bought a new position in shares of Tesla in the 4th quarter worth $38,000. 66.20% of the stock is currently owned by institutional investors.

Tesla Price Performance

NASDAQ:TSLA opened at $323.63 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.54 and a current ratio of 2.00. The stock's 50-day simple moving average is $314.93 and its 200 day simple moving average is $330.48. The company has a market cap of $1.04 trillion, a P/E ratio of 177.82, a P/E/G ratio of 12.18 and a beta of 2.47. Tesla, Inc. has a 52-week low of $182.00 and a 52-week high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last released its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.53 by ($0.26). The company had revenue of $19.34 billion during the quarter, compared to analyst estimates 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 firm posted $0.45 EPS. As a group, sell-side analysts forecast that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

TSLA has been the topic of several recent research reports. Piper Sandler restated an "overweight" rating and issued a $400.00 price target on shares of Tesla in a research report on Tuesday, June 10th. Oppenheimer reaffirmed a "mixed" rating on shares of Tesla in a research note on Tuesday, March 18th. Guggenheim reaffirmed a "sell" rating and set a $175.00 price objective on shares of Tesla in a research note on Monday, June 23rd. Bank of America dropped their price objective on Tesla from $490.00 to $380.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 4th. Finally, Barclays dropped their price objective on Tesla from $325.00 to $275.00 and set an "equal weight" rating on the stock in a research note on Monday, April 21st. Ten equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $298.37.

Insiders Place Their Bets

In other Tesla news, SVP Xiaotong Zhu sold 15,000 shares of the company's stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $323.81, for a total value of $4,857,150.00. Following the sale, the senior vice president now owns 67,600 shares in the company, valued at $21,889,556. This represents a 18.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Vaibhav Taneja sold 4,000 shares of the company's stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $250.00, for a total value of $1,000,000.00. Following the completion of the sale, the chief financial officer now owns 26,950 shares in the company, valued at $6,737,500. This represents a 12.92% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 833,509 shares of company stock valued at $278,648,925 over the last 90 days. 20.70% of the stock is currently owned by insiders.

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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