Redhawk Wealth Advisors Inc. Sells 535 Shares of Tesla, Inc. (NASDAQ:TSLA)

Redhawk Wealth Advisors Inc. lowered its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 6.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,733 shares of the electric vehicle producer’s stock after selling 535 shares during the quarter. Redhawk Wealth Advisors Inc.’s holdings in Tesla were worth $2,004,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. True Wealth Design LLC boosted its position in 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 in the last quarter. Horrell Capital Management Inc. boosted its position in Tesla by 75.6% during the fourth quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock valued at $32,000 after purchasing an additional 34 shares in the last quarter. GS Investments Inc. boosted its holdings in Tesla by 193.3% in the fourth quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock worth $36,000 after acquiring an additional 58 shares in the last quarter. Navigoe LLC acquired a new stake in Tesla in the fourth quarter worth about $37,000. Finally, CoreFirst Bank & Trust acquired a new stake in Tesla in the fourth quarter worth about $38,000. Institutional investors own 66.20% of the company’s stock.

Tesla Stock Up 5.7%

Shares of NASDAQ TSLA opened at $326.09 on Wednesday. The stock has a market cap of $1.05 trillion, a PE ratio of 159.85, a price-to-earnings-growth ratio of 5.86 and a beta of 2.47. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 52-week low of $167.41 and a 52-week high of $488.54. The business has a 50-day moving average price of $293.86 and a 200 day moving average price of $333.15.

Tesla (NASDAQ:TSLA) last announced 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 firm 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 period last year, the company earned $0.45 earnings per share. Equities research analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on TSLA shares. Mizuho raised their price target on Tesla from $325.00 to $390.00 and gave the stock an “outperform” rating in a report on Friday, May 16th. BNP Paribas set a $137.00 price objective on Tesla and gave the stock an “underperform” rating in a research note on Wednesday, April 16th. Barclays reduced their price objective on Tesla from $325.00 to $275.00 and set an “equal weight” rating for the company in a research note on Monday, April 21st. HSBC reduced their price objective on Tesla from $165.00 to $130.00 and set a “reduce” rating for the company in a research note on Thursday, March 27th. Finally, Morgan Stanley restated an “overweight” rating and issued a $410.00 price objective on shares of Tesla in a research note on Friday. Ten equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Tesla currently has a consensus rating of “Hold” and an average price target of $293.67.

Insider Transactions at Tesla

In other news, CFO Vaibhav Taneja sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, April 7th. The stock was 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 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 document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Robyn M. Denholm sold 112,390 shares of the company’s stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $285.58, for a total value of $32,096,336.20. Following the sale, the director now owns 85,000 shares of the company’s stock, valued at $24,274,300. This trade represents a 56.94% decrease in their position. The disclosure for this sale can be found here. Insiders sold 818,509 shares of company stock worth $273,791,775 over the last 90 days. 20.70% of the stock is currently owned by 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.