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

Atlas Wealth Partners LLC cut its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 6.3% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 1,572 shares of the electric vehicle producer’s stock after selling 105 shares during the period. Tesla comprises about 0.5% of Atlas Wealth Partners LLC’s holdings, making the stock its 26th biggest holding. Atlas Wealth Partners LLC’s holdings in Tesla were worth $407,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in the stock. Rinkey Investments grew its holdings in shares of Tesla by 3.5% in the fourth quarter. Rinkey Investments now owns 860 shares of the electric vehicle producer’s stock valued at $347,000 after purchasing an additional 29 shares during the period. True Wealth Design LLC grew its holdings in shares of 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 purchasing an additional 31 shares during the period. Horrell Capital Management Inc. grew its holdings in shares of 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 purchasing an additional 34 shares during the period. Aldebaran Financial Inc. grew its holdings in shares of Tesla by 3.1% in the fourth quarter. Aldebaran Financial Inc. now owns 1,174 shares of the electric vehicle producer’s stock valued at $490,000 after purchasing an additional 35 shares during the period. Finally, Acorn Wealth Advisors LLC grew its holdings in shares of Tesla by 1.9% in the first quarter. Acorn Wealth Advisors LLC now owns 1,901 shares of the electric vehicle producer’s stock valued at $493,000 after purchasing an additional 36 shares during the period. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Tesla Stock Performance

NASDAQ:TSLA traded up $10.24 during midday trading on Friday, reaching $329.65. The stock had a trading volume of 93,904,102 shares, compared to its average volume of 98,883,688. The firm has a fifty day simple moving average of $326.27 and a two-hundred day simple moving average of $317.30. Tesla, Inc. has a 12-month low of $182.00 and a 12-month high of $488.54. The company has a quick ratio of 1.54, a current ratio of 2.00 and a debt-to-equity ratio of 0.07. The stock has a market cap of $1.06 trillion, a P/E ratio of 181.13, a P/E/G ratio of 12.17 and a beta of 2.39.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.26). The firm had revenue of $19.34 billion for the quarter, compared to analyst estimates of $22.93 billion. Tesla had a return on equity of 9.02% and a net margin of 6.66%. During the same period last year, the firm earned $0.45 EPS. On average, equities analysts expect that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Buying and Selling

In other Tesla news, CFO Vaibhav Taneja sold 2,000 shares of Tesla stock in a transaction dated Tuesday, July 8th. The stock was sold at an average price of $300.00, for a total value of $600,000.00. Following the completion of the sale, the chief financial officer owned 5,924 shares in the company, valued at $1,777,200. The trade was a 25.24% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Kimbal Musk sold 91,588 shares of Tesla stock in a transaction dated 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 owned 1,463,220 shares of the company’s stock, 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. In the last 90 days, insiders have sold 835,509 shares of company stock worth $279,420,485. 20.70% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a research note on Wednesday, April 23rd. Canaccord Genuity Group reaffirmed a “buy” rating and set a $303.00 target price on shares of Tesla in a research note on Monday, June 30th. Cantor Fitzgerald reduced their price target on shares of Tesla from $425.00 to $355.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 23rd. Wedbush reissued an “outperform” rating and set a $500.00 price target on shares of Tesla in a research report on Tuesday, July 8th. Finally, UBS Group set a $290.00 price target on shares of Tesla in a research report on Monday, June 30th. Ten investment analysts have rated the stock with a sell rating, fourteen have given a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $300.19.

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.