Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Investment Advisory Group LLC

Investment Advisory Group LLC cut its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 1.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,941 shares of the electric vehicle producer’s stock after selling 83 shares during the period. Investment Advisory Group LLC’s holdings in Tesla were worth $1,540,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. True Wealth Design LLC increased 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 valued at $28,000 after purchasing an additional 31 shares during the period. Horrell Capital Management Inc. raised its position in shares of Tesla by 75.6% during the 4th quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock worth $32,000 after buying an additional 34 shares in the last quarter. GS Investments Inc. lifted its stake in shares of Tesla by 193.3% in the 4th quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock worth $36,000 after acquiring an additional 58 shares during the period. Navigoe LLC acquired a new position in shares of Tesla during the fourth quarter valued at approximately $37,000. Finally, CoreFirst Bank & Trust acquired a new position in shares of Tesla during the fourth quarter valued at approximately $38,000. 66.20% of the stock is owned by institutional investors.

Insider Buying and Selling at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of the company’s stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the completion of the sale, the chief financial officer now directly owns 26,950 shares in the company, valued at $6,737,500. This represents a 12.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kimbal Musk sold 91,588 shares of the firm’s stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $357.39, for a total value of $32,732,635.32. Following the completion of the sale, the director now directly owns 1,463,220 shares in the company, valued at $522,940,195.80. This trade represents a 5.89% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 815,945 shares of company stock worth $273,059,215 over the last three months. Corporate insiders own 20.70% of the company’s stock.

Tesla Stock Performance

Shares of TSLA stock opened at $295.14 on Monday. Tesla, Inc. has a fifty-two week low of $167.41 and a fifty-two week high of $488.54. The stock’s 50-day moving average is $292.17 and its two-hundred day moving average is $333.51. 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 firm has a market cap of $950.63 billion, a P/E ratio of 144.68, a PEG ratio of 5.86 and a beta of 2.47.

Tesla (NASDAQ:TSLA) last posted its 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 business had revenue of $19.34 billion during the quarter, compared to analyst estimates of $22.93 billion. Tesla had a net margin of 7.26% and a return on equity of 10.31%. During the same quarter last year, the firm earned $0.45 earnings per share. Analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Analysts Set New Price Targets

TSLA has been the subject of a number of research reports. TD Cowen raised Tesla from a “hold” rating to a “buy” rating and increased their price target for the company from $180.00 to $388.00 in a research note on Friday, March 7th. Guggenheim restated a “sell” rating and issued a $170.00 price objective on shares of Tesla in a report on Thursday, April 24th. Wells Fargo & Company lowered their target price on Tesla from $135.00 to $130.00 and set an “underweight” rating on the stock in a report on Friday, March 14th. Mizuho boosted their target price on shares of Tesla from $325.00 to $390.00 and gave the stock an “outperform” rating in a report on Friday, May 16th. Finally, Piper Sandler set a $400.00 price target on Tesla in a report on Tuesday, May 6th. Ten equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $294.27.

About Tesla

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.