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

Xcel Wealth Management LLC decreased its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 10.6% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,132 shares of the electric vehicle producer's stock after selling 1,321 shares during the quarter. Tesla comprises about 0.9% of Xcel Wealth Management LLC's portfolio, making the stock its 29th biggest holding. Xcel Wealth Management LLC's holdings in Tesla were worth $2,885,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Cherry Tree Wealth Management LLC increased its position 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 worth $25,000 after purchasing an additional 44 shares during the last quarter. First PREMIER Bank grew its stake in shares of Tesla by 79.2% in the 1st quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after buying an additional 42 shares during the period. Newton One Investments LLC increased its holdings in shares of Tesla by 250.0% during the 1st quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock worth $27,000 after buying an additional 75 shares during the last quarter. 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 last quarter. Finally, Horrell Capital Management Inc. grew its position in Tesla by 75.6% in the fourth 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 period. Hedge funds and other institutional investors own 66.20% of the company's stock.

Insider Activity

In other Tesla news, Director Kimbal Musk sold 91,588 shares of the firm's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $357.39, for a total value of $32,732,635.32. Following the completion of the sale, the director owned 1,463,220 shares of the company's stock, valued at approximately $522,940,195.80. This trade represents a 5.89% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Vaibhav Taneja sold 6,000 shares of the business's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $341.02, for a total transaction of $2,046,120.00. Following the sale, the chief financial officer owned 1,950 shares in the company, valued at $664,989. The trade was a 75.47% decrease in their ownership of the stock. 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 over the last three months. 20.70% of the stock is currently owned by corporate insiders.

Tesla Stock Performance

Shares of NASDAQ:TSLA traded down $2.09 during midday trading on Friday, hitting $313.56. The stock had a trading volume of 58,042,302 shares, compared to its average volume of 101,137,163. The company has a market capitalization of $1.01 trillion, a PE ratio of 172.29, a P/E/G ratio of 9.17 and a beta of 2.39. Tesla, Inc. has a 1 year low of $182.00 and a 1 year high of $488.54. The stock has a 50 day moving average price of $320.36 and a two-hundred day moving average price of $327.07. 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 announced 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 business had revenue of $19.34 billion during the quarter, compared to analysts' expectations 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 posted $0.45 EPS. As a group, equities analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on TSLA shares. The Goldman Sachs Group boosted their price target on shares of Tesla from $285.00 to $315.00 and gave the company a "neutral" rating in a research note on Thursday. Wells Fargo & Company cut their price target 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. JPMorgan Chase & Co. reduced their price target on shares of Tesla from $120.00 to $115.00 and set an "underweight" rating on the stock in a research report on Wednesday, April 23rd. Cantor Fitzgerald dropped their price objective on shares of Tesla from $425.00 to $355.00 and set an "overweight" rating for the company in a report on Wednesday, April 23rd. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Tesla in a research note on Wednesday, April 23rd. Ten investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $301.24.

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.