Lauer Wealth LLC Has $7.22 Million Stake in Tesla, Inc. (NASDAQ:TSLA)

Lauer Wealth LLC decreased its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 51.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 27,870 shares of the electric vehicle producer's stock after selling 29,061 shares during the period. Tesla accounts for approximately 5.6% of Lauer Wealth LLC's holdings, making the stock its 7th biggest holding. Lauer Wealth LLC's holdings in Tesla were worth $7,223,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. Apollon Financial LLC grew its holdings in shares of Tesla by 10.6% during the first quarter. Apollon Financial LLC now owns 1,612 shares of the electric vehicle producer's stock valued at $418,000 after buying an additional 154 shares during the last quarter. Apollon Wealth Management LLC increased its stake in Tesla by 3.9% during the 1st quarter. Apollon Wealth Management LLC now owns 87,084 shares of the electric vehicle producer's stock worth $22,569,000 after buying an additional 3,281 shares in the last quarter. Hohimer Wealth Management LLC increased its stake in Tesla by 2.5% during the 1st quarter. Hohimer Wealth Management LLC now owns 9,533 shares of the electric vehicle producer's stock worth $2,471,000 after buying an additional 230 shares in the last quarter. Bogart Wealth LLC increased its stake in Tesla by 106.3% during the 1st quarter. Bogart Wealth LLC now owns 2,360 shares of the electric vehicle producer's stock worth $612,000 after buying an additional 1,216 shares in the last quarter. Finally, Check Capital Management Inc. CA grew its position in shares of Tesla by 2.0% in the first quarter. Check Capital Management Inc. CA now owns 2,528 shares of the electric vehicle producer's stock valued at $655,000 after purchasing an additional 50 shares in the last quarter. Institutional investors own 66.20% of the company's stock.

Insiders Place Their Bets

In other Tesla news, SVP Xiaotong Zhu sold 15,000 shares of the company's stock in a transaction 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 completion of the sale, the senior vice president directly owned 67,600 shares in the company, valued at approximately $21,889,556. This represents a 18.16% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 value of $170,636,475.60. Following the completion of the transaction, the director directly owned 855,394 shares of the company's stock, valued at approximately $305,632,276.20. The trade was a 35.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 835,509 shares of company stock worth $279,420,485. Company insiders own 20.70% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Wedbush reiterated an "outperform" rating and issued a $500.00 price objective on shares of Tesla in a research report on Tuesday, July 8th. Royal Bank Of Canada cut their price target on Tesla from $314.00 to $307.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 23rd. Truist Financial set a $280.00 price objective on Tesla in a report on Tuesday, April 22nd. Cfra Research downgraded shares of Tesla from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, April 22nd. Finally, Piper Sandler reiterated an "overweight" rating and set a $400.00 price target on shares of Tesla in a research report on Tuesday, June 10th. Ten analysts have rated the stock with a sell rating, fourteen have given a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $300.19.

Tesla Stock Performance

Shares of TSLA opened at $313.51 on Monday. Tesla, Inc. has a 52 week low of $182.00 and a 52 week high of $488.54. The company has a quick ratio of 1.54, a current ratio of 2.00 and a debt-to-equity ratio of 0.07. The business's 50 day moving average price is $322.60 and its 200-day moving average price is $319.32. The stock has a market cap of $1.01 trillion, a P/E ratio of 172.26, a P/E/G ratio of 9.33 and a beta of 2.39.

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

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