Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Surience Private Wealth LLC

Surience Private Wealth LLC lowered its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 84.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,505 shares of the electric vehicle producer's stock after selling 8,356 shares during the quarter. Tesla comprises approximately 0.7% of Surience Private Wealth LLC's investment portfolio, making the stock its 24th largest holding. Surience Private Wealth LLC's holdings in Tesla were worth $390,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of TSLA. Rinkey Investments lifted its holdings 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 acquiring an additional 29 shares during the period. Ndwm LLC lifted its holdings in Tesla by 0.8% in the fourth quarter. Ndwm LLC now owns 3,563 shares of the electric vehicle producer's stock valued at $1,439,000 after acquiring an additional 30 shares during the period. Bell Investment Advisors Inc lifted its holdings in Tesla by 1.3% in the fourth quarter. Bell Investment Advisors Inc now owns 2,339 shares of the electric vehicle producer's stock valued at $945,000 after acquiring an additional 30 shares during the period. Pitti Group Wealth Management LLC lifted its holdings in Tesla by 2.2% in the fourth quarter. Pitti Group Wealth Management LLC now owns 1,470 shares of the electric vehicle producer's stock valued at $594,000 after acquiring an additional 31 shares during the period. Finally, True Wealth Design LLC lifted its holdings in Tesla by 79.5% in the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock valued at $28,000 after acquiring an additional 31 shares during the period. Institutional investors and hedge funds own 66.20% of the company's stock.

Insider Buying and Selling

In other Tesla news, SVP Xiaotong Zhu sold 15,000 shares of the company's stock in a transaction that occurred on 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 transaction, the senior vice president now owns 67,600 shares in the company, valued at $21,889,556. This represents a 18.16% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Vaibhav Taneja sold 4,000 shares of the company's stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $250.00, for a total value of $1,000,000.00. Following the completion of the transaction, the chief financial officer now owns 26,950 shares of the company's stock, valued at approximately $6,737,500. This represents a 12.92% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 833,509 shares of company stock valued at $278,648,925. Corporate insiders own 20.70% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Wells Fargo & Company cut their price target on Tesla from $135.00 to $130.00 and set an "underweight" rating for the company in a research note on Friday, March 14th. Cowen raised Tesla from a "hold" rating to a "buy" rating in a research note on Thursday, March 6th. Guggenheim reaffirmed a "sell" rating and set a $175.00 price target on shares of Tesla in a research note on Monday, June 23rd. Bank of America cut their price target on Tesla from $490.00 to $380.00 and set a "neutral" rating for the company in a research note on Tuesday, March 4th. Finally, Piper Sandler reaffirmed an "overweight" rating and set a $400.00 price target on shares of Tesla in a research note on Tuesday, June 10th. Ten equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Tesla has an average rating of "Hold" and an average price target of $298.37.

Tesla Stock Performance

NASDAQ TSLA opened at $323.63 on Friday. The firm has a market capitalization of $1.04 trillion, a P/E ratio of 177.82, a P/E/G ratio of 12.10 and a beta of 2.47. Tesla, Inc. has a 1-year low of $182.00 and a 1-year high of $488.54. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.00 and a quick ratio of 1.54. The business's 50-day simple moving average is $314.93 and its 200-day simple moving average is $329.82.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.26). The firm had revenue of $19.34 billion during the quarter, compared to analyst estimates 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 prior year, the firm earned $0.45 earnings per share. Equities analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

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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