Leo Wealth LLC Sells 1,048 Shares of Tesla, Inc. (NASDAQ:TSLA)

Leo Wealth LLC decreased its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 20.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,021 shares of the electric vehicle producer's stock after selling 1,048 shares during the quarter. Leo Wealth LLC's holdings in Tesla were worth $1,042,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of TSLA. Susquehanna Fundamental Investments LLC purchased a new position in shares of Tesla during the 4th quarter worth approximately $56,600,000. Means Investment CO. Inc. grew its stake in Tesla by 37.7% in the first quarter. Means Investment CO. Inc. now owns 23,089 shares of the electric vehicle producer's stock worth $5,984,000 after purchasing an additional 6,323 shares during the period. Focus Financial Network Inc. raised its holdings in Tesla by 3.1% in the first quarter. Focus Financial Network Inc. now owns 22,467 shares of the electric vehicle producer's stock worth $5,823,000 after purchasing an additional 670 shares in the last quarter. IFM Investors Pty Ltd lifted its position in Tesla by 8.5% during the first quarter. IFM Investors Pty Ltd now owns 586,460 shares of the electric vehicle producer's stock valued at $153,436,000 after buying an additional 46,087 shares during the period. Finally, Harvard Management Co. Inc. bought a new stake in shares of Tesla during the 4th quarter valued at $8,158,000. Institutional investors own 66.20% of the company's stock.

Tesla Price Performance

Shares of Tesla stock traded up $3.39 on Monday, hitting $316.90. 77,759,201 shares of the company traded hands, compared to its average volume of 109,130,633. Tesla, Inc. has a 52 week low of $182.00 and a 52 week high of $488.54. The business has a 50-day simple moving average of $322.60 and a 200 day simple moving average of $319.32. 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 has a market capitalization of $1.02 trillion, a P/E ratio of 174.12, a price-to-earnings-growth ratio of 9.33 and a beta of 2.39.

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 for the quarter, compared to analysts' expectations of $22.93 billion. Tesla had a net margin of 6.66% and a return on equity of 9.02%. During the same quarter in the previous year, the business earned $0.45 EPS. Research analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Buying and Selling at Tesla

In other Tesla news, Director Kimbal Musk sold 91,588 shares of Tesla stock in a transaction 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 directly owned 1,463,220 shares of the company's stock, valued at $522,940,195.80. This trade represents a 5.89% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Xiaotong Zhu sold 15,000 shares of the business's stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $323.81, for a total transaction of $4,857,150.00. Following the completion of the sale, the senior vice president owned 67,600 shares in the company, valued at approximately $21,889,556. This trade represents a 18.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 835,509 shares of company stock worth $279,420,485 over the last three months. 20.70% of the stock is owned by company insiders.

Analyst Ratings Changes

TSLA has been the subject of several research reports. Royal Bank Of Canada decreased their price target on shares of Tesla from $314.00 to $307.00 and set an "outperform" rating for the company in a research note on Wednesday, April 23rd. Oppenheimer reaffirmed a "mixed" rating on shares of Tesla in a research report on Tuesday, March 18th. Piper Sandler reissued an "overweight" rating and set a $400.00 price objective on shares of Tesla in a research report on Tuesday, June 10th. Wedbush restated an "outperform" rating and set a $500.00 price objective on shares of Tesla in a research note on Tuesday, July 8th. Finally, HSBC restated a "reduce" rating and issued a $120.00 price objective on shares of Tesla in a report on Thursday, July 3rd. Ten equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $300.19.

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.