Tesla, Inc. $TSLA Shares Sold by Laidlaw Wealth Management LLC

Key Points

• Laidlaw Wealth Management LLC has significantly reduced its stake in Tesla, Inc., selling 6,455 shares and now holding 5,795 shares, which comprises 4.4% of its investment portfolio.
• Recent analysis of Tesla shares shows a consensus rating of "Hold" with a consensus price target of $303.31, while individual analysts' ratings vary between "Sell" and "Overweight."
• Insider transactions include Director James R. Murdoch selling 120,000 shares for over $42 million, indicating a possible decrease in confidence among executives.

Laidlaw Wealth Management LLC reduced its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 52.7% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,795 shares of the electric vehicle producer's stock after selling 6,455 shares during the period. Tesla accounts for approximately 4.4% of Laidlaw Wealth Management LLC's investment portfolio, making the stock its 7th biggest position. Laidlaw Wealth Management LLC's holdings in Tesla were worth $1,502,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Acorn Wealth Advisors LLC raised its stake in shares of Tesla by 1.9% during the 1st quarter. Acorn Wealth Advisors LLC now owns 1,901 shares of the electric vehicle producer's stock worth $493,000 after acquiring an additional 36 shares in the last quarter. Solutions 4 Wealth Ltd raised its stake in shares of Tesla by 2.0% during the 1st quarter. Solutions 4 Wealth Ltd now owns 1,815 shares of the electric vehicle producer's stock worth $470,000 after acquiring an additional 36 shares in the last quarter. Capital Management Associates Inc raised its stake in shares of Tesla by 3.4% during the 1st quarter. Capital Management Associates Inc now owns 1,166 shares of the electric vehicle producer's stock worth $302,000 after acquiring an additional 38 shares in the last quarter. Graney & King LLC raised its stake in shares of Tesla by 18.4% during the 1st quarter. Graney & King LLC now owns 245 shares of the electric vehicle producer's stock worth $63,000 after acquiring an additional 38 shares in the last quarter. Finally, Mraz Amerine & Associates Inc. raised its stake in shares of Tesla by 3.8% during the 1st quarter. Mraz Amerine & Associates Inc. now owns 1,054 shares of the electric vehicle producer's stock worth $278,000 after acquiring an additional 39 shares in the last quarter. 66.20% of the stock is owned by institutional investors.

Tesla Stock Performance

NASDAQ TSLA traded up $0.34 on Tuesday, reaching $346.74. 15,094,206 shares of the company's stock traded hands, compared to its average volume of 102,709,594. The firm has a market cap of $1.12 trillion, a price-to-earnings ratio of 200.16, a P/E/G ratio of 12.24 and a beta of 2.06. The stock has a 50 day moving average price of $324.57 and a 200-day moving average price of $301.95. Tesla, Inc. has a fifty-two week low of $212.11 and a fifty-two week high of $488.54. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.43 by ($0.03). Tesla had a net margin of 6.54% and a return on equity of 7.98%. The business had revenue of $22.50 billion for the quarter, compared to analyst estimates of $23.18 billion. During the same quarter in the prior year, the firm earned $0.52 earnings per share. The company's revenue for the quarter was down 11.8% on a year-over-year basis. Equities research analysts predict that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms recently commented on TSLA. The Goldman Sachs Group reiterated a "neutral" rating on shares of Tesla in a research note on Sunday, August 17th. Glj Research reiterated a "sell" rating on shares of Tesla in a research note on Thursday, July 24th. Piper Sandler reissued an "overweight" rating and set a $400.00 target price on shares of Tesla in a research report on Tuesday, June 10th. Stifel Nicolaus set a $440.00 target price on shares of Tesla in a research report on Friday. Finally, Royal Bank Of Canada reissued an "overweight" rating on shares of Tesla in a research report on Tuesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, fourteen have assigned a Hold rating and nine have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $303.00.

Insider Buying and Selling

In related news, SVP Xiaotong Zhu sold 15,000 shares of the stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $323.81, for a total transaction of $4,857,150.00. Following the sale, the senior vice president directly owned 67,600 shares of the company's stock, valued at approximately $21,889,556. This represents a 18.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director James R. Murdoch sold 120,000 shares of the stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $350.29, for a total transaction of $42,034,800.00. Following the sale, the director directly owned 697,031 shares in the company, valued at $244,162,988.99. This trade represents a 14.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 141,000 shares of company stock valued at $48,663,510. Corporate insiders own 20.70% of the company's stock.

Tesla Company 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.