Tower View Wealth Management LLC Sells 11,267 Shares of Tesla, Inc. (NASDAQ:TSLA)

Tower View Wealth Management LLC lowered its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 98.1% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 220 shares of the electric vehicle producer's stock after selling 11,267 shares during the quarter. Tower View Wealth Management LLC's holdings in Tesla were worth $57,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Tesla by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 243,193,181 shares of the electric vehicle producer's stock worth $98,211,134,000 after buying an additional 3,571,793 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Tesla by 2.8% during the fourth quarter. Geode Capital Management LLC now owns 61,011,604 shares of the electric vehicle producer's stock worth $24,566,217,000 after buying an additional 1,655,203 shares during the last quarter. Norges Bank acquired a new position in shares of Tesla during the fourth quarter worth approximately $14,420,248,000. FMR LLC lifted its holdings in shares of Tesla by 40.1% during the fourth quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer's stock worth $13,997,660,000 after buying an additional 9,920,325 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of Tesla by 21.6% during the fourth quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer's stock worth $11,541,592,000 after buying an additional 5,075,418 shares during the last quarter. Institutional investors own 66.20% of the company's stock.

Insider Activity at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 15,000 shares of the stock in a transaction dated 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 transaction, the senior vice president now owns 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction dated Monday, April 7th. The shares were 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 directly owns 26,950 shares in the company, valued at $6,737,500. The trade was a 12.92% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 833,509 shares of company stock worth $278,648,925 over the last 90 days. Insiders own 20.70% of the company's stock.

Tesla Price Performance

Shares of TSLA stock opened at $322.16 on Friday. The stock's fifty day moving average is $306.22 and its 200-day moving average is $331.96. The stock has a market capitalization of $1.04 trillion, a PE ratio of 177.01, a PEG ratio of 12.05 and a beta of 2.47. Tesla, Inc. has a 52 week low of $182.00 and a 52 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.

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 (EPS) 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 the consensus estimate of $22.93 billion. Tesla had a net margin of 6.66% and a return on equity of 9.02%. During the same quarter in the prior year, the business earned $0.45 EPS. Equities research analysts expect that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Baird R W lowered Tesla from a "strong-buy" rating to a "hold" rating in a report on Monday, June 9th. Oppenheimer restated a "mixed" rating on shares of Tesla in a research note on Tuesday, March 18th. Mizuho upped their target price on Tesla from $325.00 to $390.00 and gave the company an "outperform" rating in a research note on Friday, May 16th. Glj Research restated a "sell" rating and issued a $19.05 target price (down from $24.86) on shares of Tesla in a research note on Monday, April 21st. Finally, Truist Financial set a $280.00 target price on Tesla in a research note on Tuesday, April 22nd. Ten analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $293.67.

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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