MinichMacGregor Wealth Management LLC Has $766,000 Position in Tesla, Inc. (NASDAQ:TSLA)

MinichMacGregor Wealth Management LLC lowered its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 35.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,957 shares of the electric vehicle producer's stock after selling 1,594 shares during the quarter. MinichMacGregor Wealth Management LLC's holdings in Tesla were worth $766,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Tesla in the fourth quarter valued at approximately $14,420,248,000. FMR LLC boosted its holdings in shares of Tesla by 40.1% in the fourth quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer's stock valued at $13,997,660,000 after buying an additional 9,920,325 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Tesla by 27,378.6% in the first quarter. GAMMA Investing LLC now owns 9,812,316 shares of the electric vehicle producer's stock valued at $2,542,960,000 after buying an additional 9,776,607 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in shares of Tesla by 4,963.0% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,834,707 shares of the electric vehicle producer's stock valued at $2,356,288,000 after buying an additional 5,719,466 shares during the period. Finally, Northern Trust Corp boosted its holdings in shares of Tesla by 21.6% in the fourth quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer's stock valued at $11,541,592,000 after buying an additional 5,075,418 shares during the period. Institutional investors and hedge funds own 66.20% of the company's stock.

Analyst Upgrades and Downgrades

TSLA has been the subject of several research analyst reports. Roth Mkm reduced their price target on shares of Tesla from $450.00 to $395.00 and set a "buy" rating for the company in a report on Wednesday, April 23rd. Wells Fargo & Company reduced their price target on shares of Tesla from $135.00 to $130.00 and set an "underweight" rating for the company in a report on Friday, March 14th. BNP Paribas set a $137.00 price objective on shares of Tesla and gave the stock an "underperform" rating in a research report on Wednesday, April 16th. TD Cowen raised shares of Tesla from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $180.00 to $388.00 in a research report on Friday, March 7th. Finally, Stifel Nicolaus set a $450.00 price objective on shares of Tesla and gave the stock a "buy" rating in a research report on Thursday, April 24th. Ten 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.com, the company currently has a consensus rating of "Hold" and a consensus price target of $293.67.

Tesla Price Performance

Shares of TSLA opened at $322.16 on Friday. The firm has a market capitalization of $1.04 trillion, a PE ratio of 177.01, a PEG ratio of 12.05 and a beta of 2.47. The company's 50-day moving average is $306.22 and its 200-day moving average is $331.96. Tesla, Inc. has a fifty-two week low of $182.00 and a fifty-two week high of $488.54. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.00 and a quick ratio of 1.54.

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

Insider Activity at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the sale, the chief financial officer now directly owns 26,950 shares in the company, valued at $6,737,500. This represents a 12.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Xiaotong Zhu sold 15,000 shares of the 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 sale, the senior vice president now owns 67,600 shares in the company, valued at $21,889,556. The trade was a 18.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 833,509 shares of company stock worth $278,648,925. Corporate insiders own 20.70% of the company's stock.

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.

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