TFC Financial Management Inc. Sells 792 Shares of Tesla, Inc. (NASDAQ:TSLA)

TFC Financial Management Inc. cut its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 8.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,140 shares of the electric vehicle producer's stock after selling 792 shares during the period. Tesla accounts for approximately 0.3% of TFC Financial Management Inc.'s portfolio, making the stock its 26th largest holding. TFC Financial Management Inc.'s holdings in Tesla were worth $2,110,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Rinkey Investments increased its position in shares of Tesla by 3.5% during the fourth quarter. Rinkey Investments now owns 860 shares of the electric vehicle producer's stock valued at $347,000 after buying an additional 29 shares during the period. Ndwm LLC increased its position in shares of Tesla by 0.8% during the fourth quarter. Ndwm LLC now owns 3,563 shares of the electric vehicle producer's stock valued at $1,439,000 after buying an additional 30 shares during the period. Bell Investment Advisors Inc grew its holdings in shares of Tesla by 1.3% during the fourth quarter. Bell Investment Advisors Inc now owns 2,339 shares of the electric vehicle producer's stock worth $945,000 after purchasing an additional 30 shares in the last quarter. Pitti Group Wealth Management LLC grew its holdings in shares of Tesla by 2.2% during the fourth quarter. Pitti Group Wealth Management LLC now owns 1,470 shares of the electric vehicle producer's stock worth $594,000 after purchasing an additional 31 shares in the last quarter. Finally, True Wealth Design LLC grew its holdings in shares of Tesla by 79.5% during the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock worth $28,000 after purchasing an additional 31 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors.

Tesla Stock Performance

NASDAQ:TSLA opened at $323.63 on Friday. The firm has a market cap of $1.04 trillion, a PE ratio of 177.82, a price-to-earnings-growth ratio of 12.18 and a beta of 2.47. Tesla, Inc. has a fifty-two week low of $182.00 and a fifty-two week high of $488.54. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.54 and a current ratio of 2.00. The business has a 50 day moving average price of $314.93 and a 200-day moving average price of $330.48.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS for the quarter, missing analysts' consensus estimates of $0.53 by ($0.26). Tesla had a return on equity of 9.02% and a net margin of 6.66%. The business had revenue of $19.34 billion during the quarter, compared to analysts' expectations of $22.93 billion. During the same period in the previous year, the business earned $0.45 EPS. Equities research analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on TSLA shares. Raymond James Financial lowered Tesla to an "outperform" rating in a report on Tuesday, April 22nd. Stifel Nicolaus set a $450.00 price objective on Tesla and gave the stock a "buy" rating in a report on Thursday, April 24th. Wells Fargo & Company cut their price objective on Tesla from $135.00 to $130.00 and set an "underweight" rating for the company in a report on Friday, March 14th. Oppenheimer reissued a "mixed" rating on shares of Tesla in a report on Tuesday, March 18th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on Tesla from $420.00 to $345.00 and set a "buy" rating for the company in a report on Friday, March 28th. Ten investment 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 company's stock. According to MarketBeat, Tesla currently has a consensus rating of "Hold" and a consensus price target of $298.37.

Insider Buying and Selling

In other Tesla news, Director Kimbal Musk sold 91,588 shares of the 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 transaction, the director now owns 1,463,220 shares in the company, valued at approximately $522,940,195.80. This represents a 5.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of the stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $357.30, for a total value of $170,636,475.60. Following the completion of the transaction, the director now owns 855,394 shares of the company's stock, valued at approximately $305,632,276.20. This trade represents a 35.83% decrease in their position. The disclosure for this sale can be found here. Insiders sold 833,509 shares of company stock valued at $278,648,925 over the last quarter. 20.70% of the stock is owned by company insiders.

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.

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