Tyche Wealth Partners LLC Lowers Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Tyche Wealth Partners LLC reduced its position in Tesla, Inc. (NASDAQ:TSLA) by 0.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 21,584 shares of the electric vehicle producer’s stock after selling 158 shares during the quarter. Tesla comprises about 1.2% of Tyche Wealth Partners LLC’s investment portfolio, making the stock its 18th biggest position. Tyche Wealth Partners LLC’s holdings in Tesla were worth $5,594,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TSLA. True Wealth Design LLC raised its stake 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 acquiring an additional 31 shares during the period. Horrell Capital Management Inc. raised its position 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 purchasing an additional 34 shares during the period. GS Investments Inc. lifted its stake 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 purchasing an additional 58 shares in the last quarter. Navigoe LLC purchased a new stake in shares of Tesla in the fourth quarter worth about $37,000. Finally, CoreFirst Bank & Trust acquired a new stake in shares of Tesla in the fourth quarter valued at about $38,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Wall Street Analysts Forecast Growth

TSLA has been the subject of a number of analyst reports. Morgan Stanley restated an “overweight” rating and issued a $410.00 price target on shares of Tesla in a report on Friday, June 6th. Barclays decreased their target price on shares of Tesla from $325.00 to $275.00 and set an “equal weight” rating for the company in a research note on Monday, April 21st. Robert W. Baird reaffirmed a “neutral” rating and set a $320.00 price target on shares of Tesla in a research note on Monday, June 9th. Needham & Company LLC reissued a “hold” rating on shares of Tesla in a research report on Wednesday, April 23rd. Finally, Piper Sandler restated an “overweight” rating and set a $400.00 target price on shares of Tesla in a research note on Tuesday, June 10th. Ten analysts have rated the stock with a sell rating, thirteen have given a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Tesla presently has a consensus rating of “Hold” and a consensus target price of $294.58.

Insider Buying and Selling at Tesla

In related news, CFO Vaibhav Taneja sold 4,000 shares of the company’s stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $250.00, for a total value of $1,000,000.00. Following the completion of the sale, the chief financial officer now owns 26,950 shares of the company’s stock, valued at $6,737,500. This represents a 12.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of the stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $357.30, for a total transaction of $170,636,475.60. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 833,509 shares of company stock worth $278,648,925. 20.70% of the stock is owned by company insiders.

Tesla Price Performance

Shares of NASDAQ TSLA opened at $327.55 on Thursday. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.00 and a quick ratio of 1.54. The firm has a market capitalization of $1.06 trillion, a PE ratio of 179.97, a P/E/G ratio of 12.73 and a beta of 2.47. Tesla, Inc. has a 1-year low of $182.00 and a 1-year high of $488.54. The business’s fifty day moving average price is $311.59 and its two-hundred day moving average price is $331.45.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data 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 during 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 business earned $0.45 EPS. On average, research analysts expect that Tesla, Inc. will post 2.56 EPS 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.