Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Ibex Wealth Advisors

Ibex Wealth Advisors lowered its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 17.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund 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 hedge funds have also made changes to their positions in the company. First National Bank of Mount Dora Trust Investment Services raised its holdings in shares of Tesla by 8.9% during the first quarter. First National Bank of Mount Dora Trust Investment Services now owns 953 shares of the electric vehicle producer's stock valued at $247,000 after acquiring an additional 78 shares during the last quarter. SJS Investment Consulting Inc. raised its position in shares of Tesla by 77.4% in the first quarter. SJS Investment Consulting Inc. now owns 3,966 shares of the electric vehicle producer's stock valued at $1,028,000 after buying an additional 1,731 shares during the last quarter. Paragon Advisors LLC raised its position in shares of Tesla by 0.9% in the first quarter. Paragon Advisors LLC now owns 5,173 shares of the electric vehicle producer's stock valued at $1,341,000 after buying an additional 44 shares during the last quarter. Ameliora Wealth Management Ltd. raised its position in shares of Tesla by 19.1% in the first quarter. Ameliora Wealth Management Ltd. now owns 768 shares of the electric vehicle producer's stock valued at $199,000 after buying an additional 123 shares during the last quarter. Finally, MADDEN SECURITIES Corp raised its position in shares of Tesla by 12.0% in the first quarter. MADDEN SECURITIES Corp now owns 12,509 shares of the electric vehicle producer's stock valued at $3,242,000 after buying an additional 1,344 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company's stock.

Insider Activity at Tesla

In related news, Director Ira Matthew Ehrenpreis sold 477,572 shares of the business's stock in a transaction 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 completion of the transaction, the director now directly owns 855,394 shares of the company's stock, valued at $305,632,276.20. The trade was a 35.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Vaibhav Taneja sold 4,000 shares of the business's stock in a transaction on Monday, April 7th. The stock was sold at an average price of $250.00, for a total value of $1,000,000.00. Following the transaction, the chief financial officer now directly owns 26,950 shares of the company's stock, valued at $6,737,500. The trade was a 12.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 818,509 shares of company stock worth $273,791,775. Corporate insiders own 20.70% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on TSLA. Piper Sandler reiterated an "overweight" rating and issued a $400.00 target price on shares of Tesla in a research report on Tuesday. Wedbush set a $500.00 price target on Tesla in a report on Thursday, June 5th. Oppenheimer reaffirmed a "mixed" rating on shares of Tesla in a report on Tuesday, March 18th. Robert W. Baird reaffirmed a "neutral" rating and issued a $320.00 price target on shares of Tesla in a report on Monday. Finally, Baird R W cut Tesla from a "strong-buy" rating to a "hold" rating in a report on Monday. Ten analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Tesla currently has a consensus rating of "Hold" and a consensus price target of $293.67.

Tesla Trading Up 1.9%

Shares of NASDAQ TSLA traded up $6.20 during trading on Friday, reaching $325.31. The stock had a trading volume of 128,417,075 shares, compared to its average volume of 100,761,816. Tesla, Inc. has a fifty-two week low of $176.92 and a fifty-two week high of $488.54. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. The business's 50-day moving average price is $297.32 and its 200-day moving average price is $332.97. The company has a market cap of $1.05 trillion, a P/E ratio of 159.47, a PEG ratio of 5.86 and a beta of 2.47.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its quarterly earnings data 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). The firm had revenue of $19.34 billion during the quarter, compared to analyst estimates of $22.93 billion. Tesla had a net margin of 7.26% and a return on equity of 10.31%. During the same period in the previous year, the firm posted $0.45 earnings per share. On average, equities research analysts predict that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

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.