Rede Wealth LLC Has $436,000 Stock Position in Tesla, Inc. $TSLA

Rede Wealth LLC reduced its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 13.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,683 shares of the electric vehicle producer’s stock after selling 269 shares during the period. Rede Wealth LLC’s holdings in Tesla were worth $436,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Susquehanna Fundamental Investments LLC acquired a new position in Tesla during the fourth quarter valued at approximately $56,600,000. Means Investment CO. Inc. grew its stake in shares of Tesla by 37.7% during the first quarter. Means Investment CO. Inc. now owns 23,089 shares of the electric vehicle producer’s stock worth $5,984,000 after buying an additional 6,323 shares during the last quarter. Focus Financial Network Inc. grew its stake in shares of Tesla by 3.1% during the first quarter. Focus Financial Network Inc. now owns 22,467 shares of the electric vehicle producer’s stock worth $5,823,000 after buying an additional 670 shares during the last quarter. Keystone Global Partners LLC bought a new stake in shares of Tesla during the first quarter worth $594,000. Finally, IFM Investors Pty Ltd grew its stake in shares of Tesla by 8.5% during the first quarter. IFM Investors Pty Ltd now owns 586,460 shares of the electric vehicle producer’s stock worth $153,436,000 after buying an additional 46,087 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Kimbal Musk sold 91,588 shares of Tesla stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $357.39, for a total transaction of $32,732,635.32. Following the completion of the sale, the director directly owned 1,463,220 shares of the company’s stock, valued at approximately $522,940,195.80. The trade was a 5.89% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Xiaotong Zhu sold 15,000 shares of Tesla stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $323.81, for a total transaction of $4,857,150.00. Following the sale, the senior vice president directly owned 67,600 shares of the company’s stock, valued at $21,889,556. This represents a 18.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 599,724 shares of company stock valued at $213,126,501 in the last quarter. 20.70% of the stock is currently owned by company insiders.

Tesla Stock Down 1.2%

TSLA opened at $320.11 on Friday. The company has a 50 day moving average of $320.98 and a 200 day moving average of $303.96. The company has a market cap of $1.03 trillion, a PE ratio of 185.03, a price-to-earnings-growth ratio of 11.26 and a beta of 2.33. Tesla, Inc. has a 12 month low of $202.59 and a 12 month high of $488.54. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.03). Tesla had a net margin of 6.54% and a return on equity of 7.98%. The firm had revenue of $22.50 billion during the quarter, compared to the consensus estimate of $23.18 billion. During the same period in the previous year, the business earned $0.52 earnings per share. The firm’s revenue for the quarter was down 11.8% on a year-over-year basis. On average, sell-side analysts expect that Tesla, Inc. will post 2.56 EPS for the current year.

Analyst Ratings Changes

A number of research firms have weighed in on TSLA. Baird R W cut shares of Tesla from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 9th. Stifel Nicolaus set a $450.00 price objective on shares of Tesla and gave the stock a “buy” rating in a research note on Thursday, April 24th. Morgan Stanley reissued an “overweight” rating and issued a $410.00 price objective on shares of Tesla in a research note on Friday, June 6th. Daiwa Capital Markets reissued a “neutral” rating on shares of Tesla in a research note on Sunday, July 27th. Finally, Royal Bank Of Canada reissued an “overweight” rating on shares of Tesla in a research note on Tuesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, fifteen have given a Hold rating and nine have issued a Sell rating to the company’s stock. According to MarketBeat.com, Tesla has an average rating of “Hold” and a consensus price target of $303.31.

Tesla 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.