Symphony Financial Ltd. Co. lowered its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 34.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,827 shares of the electric vehicle producer's stock after selling 3,639 shares during the period. Tesla comprises about 1.0% of Symphony Financial Ltd. Co.'s investment portfolio, making the stock its 27th biggest holding. Symphony Financial Ltd. Co.'s holdings in Tesla were worth $1,769,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of the company. Cherry Tree Wealth Management LLC grew its holdings in Tesla by 86.3% during the first quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after purchasing an additional 44 shares during the period. First PREMIER Bank grew its position in shares of Tesla by 79.2% during the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock worth $25,000 after purchasing an additional 42 shares in the last quarter. Newton One Investments LLC grew its stake in Tesla by 250.0% during the first quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock valued at $27,000 after acquiring an additional 75 shares in the last quarter. True Wealth Design LLC grew 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 valued at $28,000 after purchasing an additional 31 shares in the last quarter. Finally, Horrell Capital Management Inc. increased its stake in Tesla by 75.6% in the 4th quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer's stock worth $32,000 after acquiring an additional 34 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company's stock.
Wall Street Analysts Forecast Growth
A number of analysts have recently weighed in on the stock. Truist Financial set a $280.00 target price on shares of Tesla in a report on Tuesday, April 22nd. UBS Group upped their price objective on Tesla from $190.00 to $215.00 and gave the company a "sell" rating in a research report on Monday. Needham & Company LLC reiterated a "hold" rating on shares of Tesla in a report on Wednesday, April 23rd. Wells Fargo & Company decreased 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, Morgan Stanley reaffirmed an "overweight" rating and set a $410.00 price objective on shares of Tesla in a research note on Friday, June 6th. Ten analysts have rated the stock with a sell rating, thirteen have given a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Tesla currently has an average rating of "Hold" and a consensus price target of $294.58.
Read Our Latest Research Report on Tesla
Insider Transactions at Tesla
In other Tesla news, SVP Xiaotong Zhu sold 15,000 shares of the firm's stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $323.81, for a total value of $4,857,150.00. Following the completion of the sale, the senior vice president now owns 67,600 shares of the company's stock, valued at approximately $21,889,556. This trade represents a 18.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Vaibhav Taneja sold 4,000 shares of the company's 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 transaction, the chief financial officer now owns 26,950 shares in the company, valued at approximately $6,737,500. This trade represents a 12.92% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 833,509 shares of company stock valued at $278,648,925 in the last 90 days. Insiders own 20.70% of the company's stock.
Tesla Stock Down 2.4%
Shares of NASDAQ TSLA opened at $340.47 on Wednesday. Tesla, Inc. has a 12-month low of $182.00 and a 12-month high of $488.54. The stock's fifty day simple moving average is $309.87 and its two-hundred day simple moving average is $331.48. The stock has a market capitalization of $1.10 trillion, a PE ratio of 187.07, a price-to-earnings-growth ratio of 13.04 and a beta of 2.47. 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 (NASDAQ:TSLA - Get Free Report) last issued its quarterly earnings data 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). The company 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 period in the previous year, the business earned $0.45 EPS. As a group, analysts expect 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.
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