Tesla, Inc. (NASDAQ:TSLA) Holdings Cut by Howard Wealth Management LLC

Howard Wealth Management LLC lowered its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 37.2% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,819 shares of the electric vehicle producer's stock after selling 1,671 shares during the period. Howard Wealth Management LLC's holdings in Tesla were worth $731,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Vanguard Group Inc. lifted its stake in Tesla by 1.5% in the first quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer's stock valued at $63,983,418,000 after buying an additional 3,694,524 shares during the last quarter. Northern Trust Corp raised its holdings in shares of Tesla by 21.6% during the fourth 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. Goldman Sachs Group Inc. raised its holdings in shares of Tesla by 322.1% during the first quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer's stock valued at $6,891,201,000 after buying an additional 20,291,139 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Tesla by 0.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,536,519 shares of the electric vehicle producer's stock valued at $9,908,828,000 after buying an additional 158,697 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Tesla by 4.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 18,174,941 shares of the electric vehicle producer's stock valued at $4,710,218,000 after buying an additional 849,091 shares during the last quarter. Institutional investors own 66.20% of the company's stock.

Analyst Upgrades and Downgrades

TSLA has been the topic of a number of recent analyst reports. Robert W. Baird reaffirmed a "neutral" rating and set a $320.00 price target on shares of Tesla in a report on Monday, June 9th. Royal Bank Of Canada reaffirmed an "overweight" rating on shares of Tesla in a report on Tuesday, July 29th. Morgan Stanley reaffirmed an "overweight" rating and set a $410.00 price target on shares of Tesla in a report on Friday, June 6th. Bank of America lifted their price target on Tesla from $305.00 to $341.00 and gave the company a "neutral" rating in a report on Monday, July 21st. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Tesla from $120.00 to $115.00 and set an "underweight" rating on the stock in a research note on Wednesday, April 23rd. Ten investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Tesla presently has a consensus rating of "Hold" and a consensus target price of $303.31.

Tesla Stock Down 1.1%

TSLA stock opened at $335.58 on Friday. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a 1 year low of $202.59 and a 1 year high of $488.54. The company has a fifty day simple moving average of $319.71 and a 200 day simple moving average of $306.28. The firm has a market cap of $1.08 trillion, a PE ratio of 193.98, a PEG ratio of 11.80 and a beta of 2.33.

Tesla (NASDAQ:TSLA - Get Free Report) last released its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share 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 return on equity of 7.98% and a net margin of 6.54%. The firm's revenue was down 11.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.52 EPS. Sell-side analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Activity

In other Tesla news, Director Kimbal Musk sold 91,588 shares of the business's stock in a transaction 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 completion of the transaction, the director owned 1,463,220 shares of the company's stock, valued at $522,940,195.80. The trade was a 5.89% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Vaibhav Taneja sold 6,000 shares of the company's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $341.02, for a total transaction of $2,046,120.00. Following the transaction, the chief financial officer directly owned 1,950 shares of the company's stock, valued at $664,989. This represents a 75.47% decrease in their position. The disclosure for this sale can be found here. Insiders sold 599,724 shares of company stock worth $213,126,501 in the last 90 days. Insiders own 20.70% of the company's stock.

About Tesla

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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