Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Elevation Point Wealth Partners LLC

Elevation Point Wealth Partners LLC reduced its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 4.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,368 shares of the electric vehicle producer’s stock after selling 556 shares during the period. Elevation Point Wealth Partners LLC’s holdings in Tesla were worth $3,205,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Krilogy Financial LLC increased its position in Tesla by 3.6% in the first quarter. Krilogy Financial LLC now owns 18,889 shares of the electric vehicle producer’s stock worth $4,895,000 after buying an additional 662 shares during the period. West Branch Capital LLC increased its position in Tesla by 24.2% in the first quarter. West Branch Capital LLC now owns 8,883 shares of the electric vehicle producer’s stock worth $2,302,000 after buying an additional 1,730 shares during the period. Opinicus Capital Inc. increased its position in Tesla by 9.7% in the first quarter. Opinicus Capital Inc. now owns 2,344 shares of the electric vehicle producer’s stock worth $607,000 after buying an additional 207 shares during the period. Lynch Asset Management Inc. increased its position in Tesla by 1.6% in the first quarter. Lynch Asset Management Inc. now owns 6,500 shares of the electric vehicle producer’s stock worth $1,685,000 after buying an additional 100 shares during the period. Finally, Crowley Wealth Management Inc. increased its holdings in shares of Tesla by 1.3% during the first quarter. Crowley Wealth Management Inc. now owns 16,268 shares of the electric vehicle producer’s stock valued at $4,216,000 after purchasing an additional 214 shares during the period. 66.20% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Truist Financial set a $280.00 price target on Tesla in a report on Tuesday, April 22nd. The Goldman Sachs Group lowered their price target on Tesla from $295.00 to $285.00 and set a “neutral” rating on the stock in a report on Friday, June 6th. UBS Group lowered their price target on Tesla from $225.00 to $190.00 and set a “sell” rating on the stock in a report on Thursday, April 10th. Piper Sandler reissued an “overweight” rating and set a $400.00 price target on shares of Tesla in a report on Tuesday. Finally, Cantor Fitzgerald lowered their price target on Tesla from $425.00 to $355.00 and set an “overweight” rating on the stock in a report on Wednesday, April 23rd. Ten 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 assigned a strong buy rating to the stock. According to data from MarketBeat, Tesla currently has a consensus rating of “Hold” and a consensus price target of $293.67.

Tesla Stock Up 1.9%

TSLA opened at $325.31 on Friday. The business has a 50 day moving average price of $299.39 and a 200 day moving average price of $332.88. Tesla, Inc. has a twelve month low of $176.92 and a twelve month high of $488.54. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. The firm has a market cap of $1.05 trillion, a P/E ratio of 159.47, a price-to-earnings-growth 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 for the quarter, missing the consensus estimate of $0.53 by ($0.26). Tesla had a return on equity of 10.31% and a net margin of 7.26%. The company had revenue of $19.34 billion during the quarter, compared to analyst estimates of $22.93 billion. During the same quarter last year, the firm posted $0.45 earnings per share. Research analysts forecast that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Buying and Selling

In other Tesla news, CFO Vaibhav Taneja sold 2,564 shares of Tesla stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $285.71, for a total value of $732,560.44. Following the transaction, the chief financial officer now directly owns 5,924 shares of the company’s stock, valued at $1,692,546.04. The trade was a 30.21% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Robyn M. Denholm sold 112,390 shares of Tesla 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 completion of the transaction, the director now directly owns 85,000 shares in the company, valued at approximately $24,274,300. This represents a 56.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 818,509 shares of company stock worth $273,791,775. 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.