Legacy Financial Advisors Inc. Has $4.09 Million Stock Holdings in Tesla, Inc. $TSLA

Key Points

Error: Response status code does not indicate success: 429 (Too Many Requests).

Legacy Financial Advisors Inc. trimmed its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 9.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 15,779 shares of the electric vehicle producer's stock after selling 1,719 shares during the quarter. Tesla comprises about 0.7% of Legacy Financial Advisors Inc.'s holdings, making the stock its 23rd biggest position. Legacy Financial Advisors Inc.'s holdings in Tesla were worth $4,089,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Eagle Capital Management LLC bought a new position in shares of Tesla in the fourth quarter valued at $331,000. Brighton Jones LLC lifted its stake in shares of Tesla by 11.8% in the fourth quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer's stock valued at $35,509,000 after buying an additional 9,293 shares in the last quarter. Revolve Wealth Partners LLC lifted its stake in shares of Tesla by 21.2% in the fourth quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer's stock valued at $2,147,000 after buying an additional 931 shares in the last quarter. Mascagni Wealth Management Inc. bought a new position in shares of Tesla in the fourth quarter valued at $346,000. Finally, Highview Capital Management LLC DE bought a new position in shares of Tesla in the fourth quarter valued at $2,367,000. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have weighed in on TSLA shares. Glj Research reaffirmed a "sell" rating on shares of Tesla in a research note on Thursday, July 24th. Morgan Stanley reaffirmed an "overweight" rating and issued a $410.00 price objective on shares of Tesla in a research note on Friday, June 6th. Truist Financial set a $280.00 price objective on shares of Tesla in a research note on Tuesday, April 22nd. Robert W. Baird reissued a "neutral" rating and set a $320.00 price target on shares of Tesla in a research report on Monday, June 9th. Finally, Argus reissued a "hold" rating on shares of Tesla in a research report on Monday, June 9th. Ten analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $303.31.

Tesla Price Performance

Shares of NASDAQ:TSLA opened at $335.16 on Tuesday. The company has a 50 day moving average of $320.95 and a 200 day moving average of $304.09. The stock has a market cap of $1.08 trillion, a P/E ratio of 193.73, a P/E/G ratio of 11.49 and a beta of 2.33. Tesla, Inc. has a 12 month low of $202.59 and a 12 month high of $488.54. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 EPS for the quarter, missing analysts' consensus estimates of $0.43 by ($0.03). Tesla had a return on equity of 7.98% and a net margin of 6.54%. The company had revenue of $22.50 billion during the quarter, compared to analysts' expectations of $23.18 billion. During the same period in the prior year, the firm earned $0.52 EPS. Tesla's quarterly revenue was down 11.8% on a year-over-year basis. As a group, sell-side analysts forecast that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Activity at Tesla

In other Tesla news, Director Kimbal Musk sold 91,588 shares of the business's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $357.39, for a total value of $32,732,635.32. Following the completion of the transaction, the director owned 1,463,220 shares of the company's stock, valued at $522,940,195.80. The trade was a 5.89% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of the business's 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 completion of the transaction, the director directly owned 855,394 shares of the company's stock, valued at approximately $305,632,276.20. This represents a 35.83% decrease in their position. The disclosure for this sale can be found here. Insiders sold 599,724 shares of company stock worth $213,126,501 in the last 90 days. 20.70% of the stock is currently owned by corporate insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.