Transform Wealth LLC Lowers Position in Tesla, Inc. (NASDAQ:TSLA)

Transform Wealth LLC lowered its position in Tesla, Inc. (NASDAQ:TSLA) by 2.4% in the 1st quarter, HoldingsChannel.com reports. The firm owned 6,058 shares of the electric vehicle producer’s stock after selling 151 shares during the period. Transform Wealth LLC’s holdings in Tesla were worth $1,570,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank purchased a new stake in shares of Tesla during the 4th quarter valued at $14,420,248,000. FMR LLC increased its stake in shares of Tesla by 40.1% during the 4th quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer’s stock worth $13,997,660,000 after purchasing an additional 9,920,325 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Tesla by 27,378.6% during the 1st quarter. GAMMA Investing LLC now owns 9,812,316 shares of the electric vehicle producer’s stock worth $2,542,960,000 after purchasing an additional 9,776,607 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of Tesla by 4,963.0% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 5,834,707 shares of the electric vehicle producer’s stock worth $2,356,288,000 after purchasing an additional 5,719,466 shares during the last quarter. Finally, Northern Trust Corp increased its position in Tesla by 21.6% in 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. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on TSLA shares. Glj Research reiterated a “sell” rating and set a $19.05 price objective (down from $24.86) on shares of Tesla in a research note on Monday, April 21st. Argus restated a “hold” rating on shares of Tesla in a research report on Monday. Canaccord Genuity Group decreased their price objective on shares of Tesla from $404.00 to $303.00 and set a “buy” rating on the stock in a research report on Wednesday, April 23rd. JPMorgan Chase & Co. reduced their price objective on Tesla from $120.00 to $115.00 and set an “underweight” rating on the stock in a research report on Wednesday, April 23rd. Finally, Guggenheim reiterated a “sell” rating and set a $170.00 price objective on shares of Tesla in a research report on Thursday, April 24th. Ten equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $293.67.

Insider Buying and Selling

In other news, Director Ira Matthew Ehrenpreis sold 477,572 shares of the business’s stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $357.30, for a total transaction of $170,636,475.60. Following the transaction, the director now owns 855,394 shares of the company’s stock, valued at approximately $305,632,276.20. The trade was a 35.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Vaibhav Taneja sold 4,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief financial officer now directly owns 26,950 shares in the company, valued at approximately $6,737,500. This represents a 12.92% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 818,509 shares of company stock worth $273,791,775. Insiders own 20.70% of the company’s stock.

Tesla Stock Up 0.1%

Shares of TSLA stock opened at $326.43 on Thursday. The company’s fifty day moving average price is $295.60 and its 200-day moving average price is $333.11. The company has a market capitalization of $1.05 trillion, a price-to-earnings ratio of 160.02, a PEG ratio of 5.86 and a beta of 2.47. Tesla, Inc. has a one year low of $169.80 and a one 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.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data 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). Tesla had a return on equity of 10.31% and a net margin of 7.26%. The firm had revenue of $19.34 billion during the quarter, compared to the consensus estimate of $22.93 billion. During the same period in the previous year, the firm earned $0.45 EPS. Sell-side analysts expect that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

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.