SMART Wealth LLC Has $293,000 Holdings in Tesla, Inc. (NASDAQ:TSLA)

SMART Wealth LLC cut its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 81.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,132 shares of the electric vehicle producer's stock after selling 4,910 shares during the quarter. SMART Wealth LLC's holdings in Tesla were worth $293,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in Tesla by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 243,193,181 shares of the electric vehicle producer's stock worth $98,211,134,000 after acquiring an additional 3,571,793 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Tesla by 2.8% during the 4th quarter. Geode Capital Management LLC now owns 61,011,604 shares of the electric vehicle producer's stock valued at $24,566,217,000 after buying an additional 1,655,203 shares during the last quarter. Norges Bank acquired a new stake in shares of Tesla during the 4th quarter valued at about $14,420,248,000. FMR LLC lifted its holdings in shares of Tesla by 40.1% during the 4th 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 last quarter. Finally, Northern Trust Corp lifted its holdings in shares of Tesla by 21.6% during the 4th 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 last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Tesla Stock Performance

TSLA opened at $313.56 on Friday. The stock has a market cap of $1.01 trillion, a PE ratio of 172.29, a P/E/G ratio of 9.17 and a beta of 2.39. The company has a current ratio of 2.00, a quick ratio of 1.54 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a 1 year low of $182.00 and a 1 year high of $488.54. The stock's 50 day simple moving average is $320.93 and its 200-day simple moving average is $325.92.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings data 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 firm had revenue of $19.34 billion for the quarter, compared to the consensus estimate 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 prior year, the firm posted $0.45 earnings per share. Sell-side analysts forecast that Tesla, Inc. will post 2.56 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on TSLA shares. Deutsche Bank Aktiengesellschaft reduced their price target on Tesla from $420.00 to $345.00 and set a "buy" rating for the company in a report on Friday, March 28th. Guggenheim reiterated a "sell" rating and set a $175.00 price target on shares of Tesla in a report on Monday, June 23rd. Wells Fargo & Company reduced their price target on Tesla from $135.00 to $130.00 and set an "underweight" rating for the company in a report on Friday, March 14th. Needham & Company LLC restated a "hold" rating on shares of Tesla in a report on Wednesday, April 23rd. Finally, Raymond James Financial lowered Tesla to an "outperform" rating in a report on Tuesday, April 22nd. Ten research analysts have rated the stock with a sell rating, thirteen have given a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Tesla presently has an average rating of "Hold" and an average price target of $301.24.

Insider Buying and Selling at Tesla

In other news, Director Robyn M. Denholm sold 112,395 shares of the business's stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $274.12, for a total transaction of $30,809,717.40. Following the sale, the director directly owned 85,000 shares in the company, valued at approximately $23,300,200. The trade was a 56.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Vaibhav Taneja sold 2,564 shares of the business's stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $285.71, for a total value of $732,560.44. Following the sale, the chief financial officer owned 5,924 shares in the company, valued at approximately $1,692,546.04. This represents a 30.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 833,509 shares of company stock valued at $278,648,925 in the last quarter. 20.70% of the stock is currently owned by corporate insiders.

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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