Strengthening Families & Communities LLC Reduces Position in Tesla, Inc. (NASDAQ:TSLA)

Strengthening Families & Communities LLC trimmed its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 44.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,443 shares of the electric vehicle producer's stock after selling 5,847 shares during the quarter. Tesla comprises approximately 1.1% of Strengthening Families & Communities LLC's portfolio, making the stock its 27th largest holding. Strengthening Families & Communities LLC's holdings in Tesla were worth $1,888,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of TSLA. Rinkey Investments raised its position in Tesla by 3.5% in the fourth quarter. Rinkey Investments now owns 860 shares of the electric vehicle producer's stock valued at $347,000 after purchasing an additional 29 shares during the period. True Wealth Design LLC increased its position in shares of Tesla by 79.5% during the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock worth $28,000 after acquiring an additional 31 shares during the period. Aldebaran Financial Inc. grew its stake in shares of Tesla by 3.1% during the fourth quarter. Aldebaran Financial Inc. now owns 1,174 shares of the electric vehicle producer's stock worth $490,000 after purchasing an additional 35 shares in the last quarter. Acorn Wealth Advisors LLC grew its stake in shares of Tesla by 1.9% during the first quarter. Acorn Wealth Advisors LLC now owns 1,901 shares of the electric vehicle producer's stock worth $493,000 after purchasing an additional 36 shares in the last quarter. Finally, Solutions 4 Wealth Ltd grew its stake in shares of Tesla by 2.0% during the first quarter. Solutions 4 Wealth Ltd now owns 1,815 shares of the electric vehicle producer's stock worth $470,000 after purchasing an additional 36 shares in the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Tesla

In related news, Director Ira Matthew Ehrenpreis sold 477,572 shares of the stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $357.30, for a total transaction of $170,636,475.60. Following the completion of the sale, the director directly owned 855,394 shares of the company's stock, valued at $305,632,276.20. This represents a 35.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kimbal Musk sold 91,588 shares of the business'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 sale, the director owned 1,463,220 shares in the company, valued at $522,940,195.80. This represents a 5.89% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 602,724 shares of company stock valued at $214,176,831. 20.70% of the stock is currently owned by insiders.

Tesla Trading Up 2.3%

Tesla stock opened at $329.61 on Friday. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07. The firm has a 50-day moving average price of $318.68 and a two-hundred day moving average price of $307.45. The firm has a market capitalization of $1.06 trillion, a price-to-earnings ratio of 190.53, a PEG ratio of 11.58 and a beta of 2.33. Tesla, Inc. has a 52-week low of $194.67 and a 52-week high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.43 by ($0.03). The firm had revenue of $22.50 billion for the quarter, compared to analyst estimates of $23.18 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. The company's revenue for the quarter was down 11.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.52 earnings per share. Sell-side analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current year.

Wall Street Analysts Forecast Growth

TSLA has been the subject of several research analyst reports. Truist Financial set a $280.00 price objective on shares of Tesla in a research note on Tuesday, April 22nd. Piper Sandler reissued an "overweight" rating and set a $400.00 price target on shares of Tesla in a report on Tuesday, June 10th. China Renaissance reissued a "hold" rating and set a $349.00 price objective on shares of Tesla in a research note on Friday, July 25th. Barclays dropped their price objective on shares of Tesla from $325.00 to $275.00 and set an "equal weight" rating for the company in a research note on Monday, April 21st. Finally, William Blair lowered shares of Tesla from an "outperform" rating to a "market perform" rating in a research report on Monday, July 7th. Ten investment analysts have rated the stock with a sell rating, fifteen have given a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $303.31.

Tesla 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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