Cyndeo Wealth Partners LLC Has $6.17 Million Stake in Tesla, Inc. (NASDAQ:TSLA)

Cyndeo Wealth Partners LLC raised its holdings in Tesla, Inc. (NASDAQ:TSLA) by 5.5% in the first quarter, Holdings Channel reports. The fund owned 23,809 shares of the electric vehicle producer’s stock after acquiring an additional 1,236 shares during the period. Cyndeo Wealth Partners LLC’s holdings in Tesla were worth $6,170,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. True Wealth Design LLC grew its stake in Tesla by 79.5% in the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer’s stock valued at $28,000 after acquiring an additional 31 shares during the period. Horrell Capital Management Inc. grew its stake in Tesla by 75.6% in the fourth quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock valued at $32,000 after acquiring an additional 34 shares during the period. GS Investments Inc. boosted its position in shares of Tesla by 193.3% during the fourth quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock worth $36,000 after buying an additional 58 shares during the period. Navigoe LLC acquired a new position in shares of Tesla during the fourth quarter worth about $37,000. Finally, CoreFirst Bank & Trust acquired a new position in shares of Tesla during the fourth quarter worth about $38,000. 66.20% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

TSLA has been the subject of several recent research reports. Guggenheim reaffirmed a “sell” rating and set a $170.00 price objective on shares of Tesla in a research report on Thursday, April 24th. Robert W. Baird reaffirmed a “neutral” rating and set a $320.00 price objective on shares of Tesla in a research report on Monday, June 9th. Stifel Nicolaus set a $450.00 price objective on Tesla and gave the stock a “buy” rating in a research report on Thursday, April 24th. Glj Research reaffirmed a “sell” rating and set a $19.05 price objective (down from $24.86) on shares of Tesla in a research report on Monday, April 21st. Finally, Truist Financial set a $280.00 price objective on Tesla in a research report on Tuesday, April 22nd. Ten equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Tesla presently has an average rating of “Hold” and an average price target of $293.67.

Insider Buying and Selling

In related news, Director Ira Matthew Ehrenpreis sold 477,572 shares of the 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 sale, the director now owns 855,394 shares of the company’s stock, valued at $305,632,276.20. This represents a 35.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Vaibhav Taneja sold 2,564 shares of the 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 sale, the chief financial officer now directly owns 5,924 shares in the company, valued at $1,692,546.04. This represents a 30.21% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 818,509 shares of company stock valued at $273,791,775 over the last 90 days. 20.70% of the stock is owned by corporate insiders.

Tesla Price Performance

Shares of NASDAQ TSLA opened at $325.31 on Monday. 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. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 1-year low of $177.00 and a 1-year high of $488.54. The business’s 50 day moving average is $299.39 and its 200-day moving average is $332.88.

Tesla (NASDAQ:TSLA) last announced its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.26). The firm had revenue of $19.34 billion for the quarter, compared to the consensus estimate of $22.93 billion. Tesla had a return on equity of 10.31% and a net margin of 7.26%. During the same quarter last year, the business posted $0.45 EPS. Equities research analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current 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.