Procyon Advisors LLC Sells 3,857 Shares of Tesla, Inc. (NASDAQ:TSLA)

Procyon Advisors LLC lowered its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 5.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 65,970 shares of the electric vehicle producer's stock after selling 3,857 shares during the quarter. Tesla accounts for about 1.0% of Procyon Advisors LLC's investment portfolio, making the stock its 19th biggest holding. Procyon Advisors LLC's holdings in Tesla were worth $17,097,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Susquehanna Fundamental Investments LLC acquired a new position in shares of Tesla in the fourth quarter valued at approximately $56,600,000. Stephens Consulting LLC boosted its holdings in shares of Tesla by 126.7% in the fourth quarter. Stephens Consulting LLC now owns 1,594 shares of the electric vehicle producer's stock valued at $644,000 after buying an additional 891 shares during the period. Strategic Family Wealth Counselors L.L.C. boosted its holdings in shares of Tesla by 133.7% in the fourth quarter. Strategic Family Wealth Counselors L.L.C. now owns 2,847 shares of the electric vehicle producer's stock valued at $1,150,000 after buying an additional 1,629 shares during the period. Harvard Management Co. Inc. acquired a new position in shares of Tesla in the fourth quarter valued at approximately $8,158,000. Finally, Vontobel Holding Ltd. boosted its holdings in shares of Tesla by 23.0% in the fourth quarter. Vontobel Holding Ltd. now owns 322,300 shares of the electric vehicle producer's stock valued at $130,158,000 after buying an additional 60,342 shares during the period. Institutional investors and hedge funds own 66.20% of the company's stock.

Tesla Price Performance

Tesla stock traded up $10.44 during trading hours on Friday, reaching $295.14. 163,425,518 shares of the stock were exchanged, compared to its average volume of 99,690,029. The company has a market cap of $950.63 billion, a P/E ratio of 144.68, a price-to-earnings-growth ratio of 5.86 and a beta of 2.47. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a twelve month low of $167.41 and a twelve month high of $488.54. The stock has a 50 day moving average of $292.17 and a two-hundred day moving average of $333.62.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its quarterly 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 net margin of 7.26% and a return on equity of 10.31%. The company had revenue of $19.34 billion during the quarter, compared to analyst estimates of $22.93 billion. During the same quarter in the previous year, the business posted $0.45 earnings per share. Equities analysts expect that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Vaibhav Taneja sold 1,000 shares of Tesla stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $350.00, for a total transaction of $350,000.00. Following the sale, the chief financial officer now directly owns 1,950 shares in the company, valued at $682,500. This trade represents a 33.90% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director James R. Murdoch sold 54,776 shares of Tesla stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the sale, 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 disclosure for this sale can be found here. Insiders have sold a total of 870,721 shares of company stock worth $286,248,728 in the last ninety days. Company insiders own 20.70% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Cantor Fitzgerald cut their price objective on shares of Tesla from $425.00 to $355.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 23rd. Cfra Research lowered shares of Tesla from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, April 22nd. Argus set a $410.00 price objective on shares of Tesla in a research report on Thursday, April 24th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Tesla from $420.00 to $345.00 and set a "buy" rating on the stock in a research report on Friday, March 28th. Finally, Truist Financial set a $280.00 price objective on shares of Tesla in a research report on Tuesday, April 22nd. Ten investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $294.27.

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.