Premier Path Wealth Partners LLC cut its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 11.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,521 shares of the electric vehicle producer's stock after selling 2,055 shares during the period. Premier Path Wealth Partners LLC's holdings in Tesla were worth $4,023,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Susquehanna Fundamental Investments LLC bought a new position in Tesla during the fourth quarter worth about $56,600,000. Focus Financial Network Inc. raised its stake in shares of Tesla by 3.1% in the 1st quarter. Focus Financial Network Inc. now owns 22,467 shares of the electric vehicle producer's stock valued at $5,823,000 after purchasing an additional 670 shares during the period. Strategic Family Wealth Counselors L.L.C. lifted its holdings in shares of Tesla by 133.7% in the fourth quarter. Strategic Family Wealth Counselors L.L.C. now owns 2,847 shares of the electric vehicle producer's stock valued at $1,150,000 after purchasing an additional 1,629 shares in the last quarter. Harvard Management Co. Inc. bought a new stake in shares of Tesla in the fourth quarter valued at about $8,158,000. Finally, Blackston Financial Advisory Group LLC lifted its holdings in shares of Tesla by 40.4% in the first quarter. Blackston Financial Advisory Group LLC now owns 3,040 shares of the electric vehicle producer's stock valued at $788,000 after purchasing an additional 874 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
TSLA has been the topic of a number of research reports. Needham & Company LLC restated a "hold" rating on shares of Tesla in a report on Wednesday, April 23rd. Canaccord Genuity Group cut their price target on Tesla from $404.00 to $303.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. Robert W. Baird restated a "neutral" rating and issued a $320.00 price target on shares of Tesla in a report on Monday, June 9th. Wells Fargo & Company cut their price target on Tesla from $135.00 to $130.00 and set an "underweight" rating on the stock in a report on Friday, March 14th. Finally, UBS Group cut their price target on Tesla from $225.00 to $190.00 and set a "sell" rating on the stock in a report on Thursday, April 10th. Ten investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $293.67.
View Our Latest Analysis on Tesla
Insider Buying and Selling at Tesla
In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of the firm'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 sale, the chief financial officer now owns 26,950 shares of the company's stock, valued at approximately $6,737,500. This trade represents a 12.92% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of the firm's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $357.30, for a total value of $170,636,475.60. Following the completion of the sale, the director now directly owns 855,394 shares in the company, 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. In the last quarter, insiders have sold 833,509 shares of company stock valued at $278,648,925. 20.70% of the stock is currently owned by corporate insiders.
Tesla Trading Up 1.8%
Shares of NASDAQ:TSLA opened at $322.05 on Thursday. The company has a market capitalization of $1.04 trillion, a P/E ratio of 176.95, a P/E/G ratio of 11.88 and a beta of 2.47. Tesla, Inc. has a 1 year low of $179.66 and a 1 year 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. The business's 50 day simple moving average is $303.42 and its 200 day simple moving average is $332.59.
Tesla (NASDAQ:TSLA - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.53 by ($0.26). The company had revenue of $19.34 billion for the quarter, compared to analyst estimates of $22.93 billion. Tesla had a return on equity of 9.02% and a net margin of 6.66%. During the same period in the prior year, the company earned $0.45 EPS. On average, research analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current fiscal year.
About Tesla
(
Free Report)
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.
See Also
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