Ibex Wealth Advisors Sells 1,698 Shares of Tesla, Inc. (NASDAQ:TSLA)

Ibex Wealth Advisors trimmed its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 17.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,302 shares of the electric vehicle producer's stock after selling 1,698 shares during the quarter. Ibex Wealth Advisors' holdings in Tesla were worth $2,152,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. True Wealth Design LLC increased its holdings in Tesla by 79.5% during the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock worth $28,000 after buying an additional 31 shares during the last quarter. Horrell Capital Management Inc. grew 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 valued at $32,000 after acquiring an additional 34 shares in the last quarter. GS Investments Inc. grew its position in shares of Tesla by 193.3% during 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 in the last quarter. Navigoe LLC bought a new stake in shares of Tesla during the 4th quarter valued at $37,000. Finally, CoreFirst Bank & Trust acquired a new stake in Tesla during the fourth quarter worth about $38,000. 66.20% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently commented on TSLA. Roth Mkm dropped their price objective on shares of Tesla from $450.00 to $395.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. Stifel Nicolaus set a $450.00 price objective on Tesla and gave the stock a "buy" rating in a research report on Thursday, April 24th. Robert W. Baird reiterated a "neutral" rating and issued a $320.00 target price on shares of Tesla in a report on Monday. Guggenheim restated a "sell" rating and set a $170.00 price target on shares of Tesla in a report on Thursday, April 24th. Finally, Baird R W lowered shares of Tesla from a "strong-buy" rating to a "hold" rating in a research note on Monday. Ten research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $293.67.

Insider Transactions at Tesla

In related news, CFO Vaibhav Taneja sold 2,564 shares of the company's stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $285.71, for a total value of $732,560.44. Following the sale, the chief financial officer now owns 5,924 shares in the company, valued at $1,692,546.04. This represents a 30.21% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Joseph Gebbia bought 4,000 shares of the business's stock in a transaction on Thursday, April 24th. The stock was bought at an average cost of $256.31 per share, with a total value of $1,025,240.00. Following the transaction, the director now owns 4,111 shares in the company, valued at $1,053,690.41. This trade represents a 3,603.60% increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 818,509 shares of company stock valued at $273,791,775. Company insiders own 20.70% of the company's stock.

Tesla Price Performance

NASDAQ:TSLA traded up $0.34 during mid-day trading on Wednesday, hitting $326.43. 121,649,309 shares of the stock traded hands, compared to its average volume of 100,661,913. Tesla, Inc. has a 12-month low of $169.80 and a 12-month high of $488.54. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. The company has a market cap of $1.05 trillion, a PE ratio of 160.02, a price-to-earnings-growth ratio of 5.86 and a beta of 2.47. The business's 50-day moving average price is $293.86 and its 200 day moving average price is $333.15.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share for the quarter, missing analysts' consensus estimates of $0.53 by ($0.26). Tesla had a net margin of 7.26% and a return on equity of 10.31%. The company had revenue of $19.34 billion during the quarter, compared to analysts' expectations of $22.93 billion. During the same period in the prior year, the business earned $0.45 earnings per share. On average, analysts expect that Tesla, Inc. will post 2.56 EPS 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.