Wealth Alliance Advisory Group LLC Has $344,000 Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Wealth Alliance Advisory Group LLC reduced its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 81.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,327 shares of the electric vehicle producer's stock after selling 5,989 shares during the quarter. Wealth Alliance Advisory Group LLC's holdings in Tesla were worth $344,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Susquehanna Fundamental Investments LLC bought a new stake in Tesla during the 4th quarter worth about $56,600,000. Stephens Consulting LLC lifted its position in Tesla by 126.7% during the 4th quarter. Stephens Consulting LLC now owns 1,594 shares of the electric vehicle producer's stock worth $644,000 after buying an additional 891 shares in the last quarter. Strategic Family Wealth Counselors L.L.C. lifted its position in Tesla by 133.7% during the 4th quarter. Strategic Family Wealth Counselors L.L.C. now owns 2,847 shares of the electric vehicle producer's stock worth $1,150,000 after buying an additional 1,629 shares in the last quarter. Harvard Management Co. Inc. bought a new stake in Tesla during the 4th quarter worth about $8,158,000. Finally, Vontobel Holding Ltd. lifted its position in Tesla by 23.0% during the 4th quarter. Vontobel Holding Ltd. now owns 322,300 shares of the electric vehicle producer's stock worth $130,158,000 after buying an additional 60,342 shares in the last quarter. 66.20% of the stock is owned by institutional investors.

Tesla Price Performance

NASDAQ:TSLA traded up $10.44 during trading hours on Friday, reaching $295.14. 163,425,518 shares of the company were exchanged, compared to its average volume of 99,864,507. The company has a market capitalization of $950.63 billion, a P/E ratio of 144.68, a P/E/G ratio of 5.86 and a beta of 2.47. Tesla, Inc. has a 1-year low of $167.41 and a 1-year high of $488.54. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. The business has a 50 day moving average of $292.17 and a 200 day moving average of $333.62.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.53 by ($0.26). The company had revenue of $19.34 billion for the quarter, compared to analyst estimates of $22.93 billion. Tesla had a return on equity of 10.31% and a net margin of 7.26%. During the same period in the prior year, the company earned $0.45 EPS. Research analysts forecast that Tesla, Inc. will post 2.56 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have commented on TSLA. Benchmark reissued a "buy" rating and set a $350.00 price target on shares of Tesla in a research report on Wednesday, April 23rd. Stifel Nicolaus set a $450.00 price target on shares of Tesla and gave the stock a "buy" rating in a research report on Thursday, April 24th. JPMorgan Chase & Co. cut 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. Cfra Research cut shares of Tesla from a "moderate buy" rating to a "hold" rating in a report on Tuesday, April 22nd. Finally, Royal Bank of Canada dropped their target price on shares of Tesla from $314.00 to $307.00 and set an "outperform" rating on the stock in a report on Wednesday, April 23rd. Ten investment analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $294.27.

Insider Buying and Selling

In related news, Director Ira Matthew Ehrenpreis sold 477,572 shares of the stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $357.30, for a total transaction of $170,636,475.60. Following the sale, the director now owns 855,394 shares in the company, valued at approximately $305,632,276.20. This trade represents a 35.83% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Vaibhav Taneja sold 1,000 shares of the stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $350.00, for a total transaction of $350,000.00. Following the sale, the chief financial officer now owns 1,950 shares in the company, valued at $682,500. This represents a 33.90% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 870,721 shares of company stock valued at $286,248,728 over the last 90 days. 20.70% of the stock is owned by corporate insiders.

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.