Lake Street Private Wealth LLC cut its stake in shares of Tesla, Inc. (NASDAQ:TSLA – Free Report) by 2.5% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 2,880 shares of the electric vehicle producer’s stock after selling 73 shares during the period. Lake Street Private Wealth LLC’s holdings in Tesla were worth $746,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. True Wealth Design LLC raised its position in shares of Tesla by 79.5% in the 4th 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 in the last quarter. Horrell Capital Management Inc. raised its position in shares of Tesla by 75.6% in the 4th 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 in the last quarter. GS Investments Inc. raised its position in shares of Tesla by 193.3% in the 4th quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock valued at $36,000 after purchasing an additional 58 shares in the last quarter. Navigoe LLC acquired a new position in shares of Tesla in the 4th quarter valued at approximately $37,000. Finally, CoreFirst Bank & Trust acquired a new position in shares of Tesla in the 4th quarter valued at approximately $38,000. 66.20% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of equities analysts have issued reports on the company. Barclays cut their target price on Tesla from $325.00 to $275.00 and set an “equal weight” rating on the stock in a research report on Monday, April 21st. Truist Financial set a $280.00 price target on Tesla in a research report on Tuesday, April 22nd. Wedbush reissued an “outperform” rating and set a $500.00 price target (up from $350.00) on shares of Tesla in a research report on Friday, May 23rd. Oppenheimer reissued a “mixed” rating on shares of Tesla in a research report on Tuesday, March 18th. Finally, UBS Group dropped their price target on Tesla from $225.00 to $190.00 and set a “sell” rating on the stock in a research report on Thursday, April 10th. Ten analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $293.97.
Insider Buying and Selling
In other Tesla news, Director James R. Murdoch sold 54,776 shares of the firm’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $240.79, for a total value of $13,189,513.04. Following the completion of the transaction, the director now directly owns 477,011 shares in the company, valued at $114,859,478.69. This trade represents a 10.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 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 transaction of $1,000,000.00. Following the sale, the chief financial officer now owns 26,950 shares in the company, valued at $6,737,500. This represents a 12.92% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 870,721 shares of company stock worth $286,248,728 in the last three months. 20.70% of the stock is currently owned by insiders.
Tesla Stock Performance
Shares of TSLA opened at $332.05 on Thursday. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. The firm’s 50 day moving average is $291.12 and its 200-day moving average is $334.34. Tesla, Inc. has a 12-month low of $167.41 and a 12-month high of $488.54. The stock has a market capitalization of $1.07 trillion, a P/E ratio of 162.77, a P/E/G ratio of 5.86 and a beta of 2.47.
Tesla (NASDAQ:TSLA – Get Free Report) last posted 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). Tesla had a return on equity of 10.31% and a net margin of 7.26%. The business 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 EPS. Equities research analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current fiscal year.
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.
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