RPg Family Wealth Advisory LLC Lowers Stock Position in Tesla, Inc. (NASDAQ:TSLA)

RPg Family Wealth Advisory LLC lessened its holdings in Tesla, Inc. (NASDAQ:TSLAGet Rating) by 3.9% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 494 shares of the electric vehicle producer’s stock after selling 20 shares during the period. RPg Family Wealth Advisory LLC’s holdings in Tesla were worth $532,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of TSLA. Synergy Asset Management LLC purchased a new stake in shares of Tesla in the 4th quarter worth approximately $228,000. Vestmark Advisory Solutions Inc. purchased a new position in Tesla in the fourth quarter worth $352,000. Qube Research & Technologies Ltd acquired a new position in shares of Tesla during the fourth quarter worth $71,285,000. Kornitzer Capital Management Inc. KS lifted its holdings in shares of Tesla by 45.9% during the 4th quarter. Kornitzer Capital Management Inc. KS now owns 1,725 shares of the electric vehicle producer’s stock valued at $1,823,000 after purchasing an additional 543 shares during the last quarter. Finally, Everett Harris & Co. CA boosted its position in shares of Tesla by 6.0% in the 4th quarter. Everett Harris & Co. CA now owns 888 shares of the electric vehicle producer’s stock worth $938,000 after purchasing an additional 50 shares in the last quarter. Hedge funds and other institutional investors own 40.64% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Truist Financial assumed coverage on Tesla in a research report on Wednesday, July 13th. They issued a “buy” rating and a $1,000.00 price objective for the company. Robert W. Baird lowered their price objective on Tesla from $1,108.00 to $949.00 in a research report on Thursday, July 21st. UBS Group raised Tesla from a “neutral” rating to a “buy” rating and set a $1,100.00 price objective for the company in a research report on Thursday, June 9th. Canaccord Genuity Group raised their price objective on Tesla from $801.00 to $815.00 in a research report on Thursday, July 21st. Finally, Jefferies Financial Group lowered their price objective on Tesla from $1,250.00 to $1,050.00 and set a “buy” rating for the company in a research report on Thursday, May 26th. They noted that the move was a valuation call. Eight investment analysts have rated the stock with a sell rating, ten have issued a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat.com, Tesla presently has a consensus rating of “Hold” and a consensus target price of $859.50.

Insider Transactions at Tesla

In other news, CAO Vaibhav Taneja sold 1,518 shares of the business’s stock in a transaction dated Monday, June 6th. The stock was sold at an average price of $718.31, for a total transaction of $1,090,394.58. Following the completion of the transaction, the chief accounting officer now directly owns 26,449 shares of the company’s stock, valued at $18,998,581.19. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, Director Kathleen Wilson-Thompson sold 8,750 shares of the business’s stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $904.00, for a total transaction of $7,910,000.00. Following the completion of the sale, the director now owns 1,800 shares in the company, valued at $1,627,200. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Vaibhav Taneja sold 1,518 shares of the business’s stock in a transaction that occurred on Monday, June 6th. The stock was sold at an average price of $718.31, for a total value of $1,090,394.58. Following the sale, the chief accounting officer now owns 26,449 shares of the company’s stock, valued at approximately $18,998,581.19. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 66,239 shares of company stock valued at $53,099,879. 25.10% of the stock is currently owned by corporate insiders.

Tesla Stock Performance

NASDAQ TSLA opened at $864.51 on Friday. The company has a market cap of $902.97 billion, a P/E ratio of 104.16, a P/E/G ratio of 2.80 and a beta of 2.17. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.43 and a quick ratio of 1.06. The stock has a 50-day moving average of $743.67 and a two-hundred day moving average of $842.10. Tesla, Inc. has a 1-year low of $620.57 and a 1-year high of $1,243.49.

Tesla (NASDAQ:TSLAGet Rating) last released its earnings results on Wednesday, July 20th. The electric vehicle producer reported $2.27 earnings per share for the quarter, beating the consensus estimate of $1.81 by $0.46. Tesla had a return on equity of 29.04% and a net margin of 14.17%. The company had revenue of $16.93 billion during the quarter, compared to the consensus estimate of $16.92 billion. During the same period in the previous year, the company posted $1.02 EPS. Tesla’s revenue was up 41.6% compared to the same quarter last year. As a group, analysts anticipate that Tesla, Inc. will post 10.58 EPS for the current year.

Tesla Company Profile

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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.

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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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