Spartan Planning & Wealth Management Cuts Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Spartan Planning & Wealth Management lowered its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 24.7% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 3,203 shares of the electric vehicle producer's stock after selling 1,051 shares during the period. Spartan Planning & Wealth Management's holdings in Tesla were worth $830,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Wealth Group Ltd. acquired a new position in shares of Tesla in the fourth quarter worth about $275,000. Comprehensive Financial Planning Inc. PA bought a new position in shares of Tesla in the fourth quarter valued at approximately $1,361,000. Tallon Kerry Patrick bought a new position in shares of Tesla in the fourth quarter valued at approximately $374,000. Eagle Capital Management LLC bought a new position in shares of Tesla in the fourth quarter valued at approximately $331,000. Finally, Brighton Jones LLC raised its position 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 purchasing an additional 9,293 shares during the period. Institutional investors own 66.20% of the company's stock.

Tesla Trading Up 2.7%

Shares of NASDAQ TSLA traded up $9.39 during mid-day trading on Tuesday, hitting $352.08. The stock had a trading volume of 43,557,905 shares, compared to its average volume of 97,884,038. The firm has a market cap of $1.13 trillion, a P/E ratio of 172.59, a price-to-earnings-growth ratio of 5.86 and a beta of 2.43. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. The business has a 50 day moving average price of $288.33 and a two-hundred day moving average price of $334.29. Tesla, Inc. has a 1 year low of $167.41 and a 1 year high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its earnings results 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). Tesla had a return on equity of 10.31% and a net margin of 7.26%. The firm had revenue of $19.34 billion for the quarter, compared to analysts' expectations of $22.93 billion. During the same quarter in the prior year, the company posted $0.45 earnings per share. On average, equities analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Activity at Tesla

In other Tesla news, Director James R. Murdoch sold 54,776 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $240.79, for a total value of $13,189,513.04. Following the completion of the transaction, the director now owns 477,011 shares in the company, valued at approximately $114,859,478.69. This represents a 10.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kimbal Musk sold 91,588 shares of the firm'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 transaction of $32,732,635.32. Following the transaction, the director now directly owns 1,463,220 shares of the company's stock, valued at $522,940,195.80. This represents a 5.89% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 866,393 shares of company stock worth $284,570,654 over the last quarter. 20.70% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on TSLA. Piper Sandler set a $400.00 target price on shares of Tesla in a research report on Tuesday, May 6th. Needham & Company LLC reaffirmed a "hold" rating on shares of Tesla in a research report on Wednesday, April 23rd. Guggenheim reaffirmed a "sell" rating and set a $170.00 target price on shares of Tesla in a research report on Thursday, April 24th. UBS Group decreased their price target on shares of Tesla from $225.00 to $190.00 and set a "sell" rating on the stock in a research note on Thursday, April 10th. Finally, Cantor Fitzgerald decreased their price target on shares of Tesla from $425.00 to $355.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 23rd. Ten analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Tesla has an average rating of "Hold" and a consensus price target of $293.97.

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.