Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Horizon Wealth Management LLC

Horizon Wealth Management LLC trimmed its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 16.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,830 shares of the electric vehicle producer's stock after selling 946 shares during the period. Horizon Wealth Management LLC's holdings in Tesla were worth $1,252,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. First National Corp MA ADV grew its position in Tesla by 151.7% during the 1st quarter. First National Corp MA ADV now owns 2,029 shares of the electric vehicle producer's stock worth $526,000 after purchasing an additional 1,223 shares during the period. Cranbrook Wealth Management LLC grew its position in Tesla by 6,000.0% during the 1st quarter. Cranbrook Wealth Management LLC now owns 427 shares of the electric vehicle producer's stock worth $111,000 after purchasing an additional 420 shares during the period. Verum Partners LLC grew its position in Tesla by 2.7% during the 1st quarter. Verum Partners LLC now owns 7,216 shares of the electric vehicle producer's stock worth $1,870,000 after purchasing an additional 193 shares during the period. Udine Wealth Management Inc. grew its position in Tesla by 6.9% during the 1st quarter. Udine Wealth Management Inc. now owns 10,514 shares of the electric vehicle producer's stock worth $2,725,000 after purchasing an additional 681 shares during the period. Finally, Littlejohn Financial Services Inc. boosted its stake in shares of Tesla by 588.4% during the 1st quarter. Littlejohn Financial Services Inc. now owns 4,220 shares of the electric vehicle producer's stock worth $1,094,000 after acquiring an additional 3,607 shares in the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Tesla

In other news, Director Ira Matthew Ehrenpreis sold 477,572 shares of the firm's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $357.30, for a total transaction of $170,636,475.60. Following the completion of the sale, the director now owns 855,394 shares in the company, valued at $305,632,276.20. This trade represents a 35.83% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction that occurred on 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 completion of the sale, the chief financial officer now owns 26,950 shares of the company's stock, valued at $6,737,500. This trade represents a 12.92% decrease in their position. The disclosure for this sale can be found here. Insiders sold 870,721 shares of company stock worth $286,248,728 in the last 90 days. Insiders own 20.70% of the company's stock.

Tesla Trading Up 3.7%

TSLA opened at $295.14 on Friday. The company's 50 day simple moving average is $292.17 and its two-hundred day simple moving average is $333.62. The firm has a market capitalization of $950.63 billion, a price-to-earnings ratio of 144.68, a price-to-earnings-growth ratio of 5.86 and a beta of 2.47. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. 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 announced its quarterly earnings results 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 analyst estimates of $22.93 billion. Tesla had a return on equity of 10.31% and a net margin of 7.26%. During the same quarter in the prior year, the business earned $0.45 EPS. Analysts expect that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

TSLA has been the topic of several recent analyst reports. Wells Fargo & Company lowered their target price on shares of Tesla from $135.00 to $130.00 and set an "underweight" rating on the stock in a research note on Friday, March 14th. Needham & Company LLC reissued a "hold" rating on shares of Tesla in a research note on Wednesday, April 23rd. Mizuho increased their target price on shares of Tesla from $325.00 to $390.00 and gave the stock an "outperform" rating in a research note on Friday, May 16th. Oppenheimer reissued a "mixed" rating on shares of Tesla in a research note on Tuesday, March 18th. Finally, Barclays lowered their target price on shares of Tesla from $325.00 to $275.00 and set an "equal weight" rating on the stock in a research note on Monday, April 21st. Ten analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Tesla presently has a consensus rating of "Hold" and an average target price of $294.27.

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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