Salomon & Ludwin LLC Sells 74 Shares of Tesla, Inc. (NASDAQ:TSLA)

Salomon & Ludwin LLC cut its position in shares of Tesla, Inc. (NASDAQ:TSLAFree Report) by 6.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,151 shares of the electric vehicle producer’s stock after selling 74 shares during the period. Salomon & Ludwin LLC’s holdings in Tesla were worth $298,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of TSLA. Rinkey Investments boosted its stake in shares of Tesla by 3.5% in the 4th 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 last quarter. Bell Investment Advisors Inc boosted its position in Tesla by 1.3% during the fourth quarter. Bell Investment Advisors Inc now owns 2,339 shares of the electric vehicle producer’s stock valued at $945,000 after acquiring an additional 30 shares during the last quarter. Pitti Group Wealth Management LLC grew its holdings in Tesla by 2.2% during the 4th quarter. Pitti Group Wealth Management LLC now owns 1,470 shares of the electric vehicle producer’s stock worth $594,000 after acquiring an additional 31 shares during the period. 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 worth $28,000 after acquiring an additional 31 shares in the last quarter. Finally, Garrett Wealth Advisory Group LLC lifted its stake in shares of Tesla by 2.4% in the 4th quarter. Garrett Wealth Advisory Group LLC now owns 1,401 shares of the electric vehicle producer’s stock valued at $566,000 after purchasing an additional 33 shares during the period. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

TSLA has been the subject of a number of research analyst reports. Royal Bank Of Canada lowered their target price on Tesla from $314.00 to $307.00 and set an “outperform” rating for the company in a report on Wednesday, April 23rd. Glj Research reiterated a “sell” rating and set a $19.05 target price (down previously from $24.86) on shares of Tesla in a research report on Monday, April 21st. Morgan Stanley restated an “overweight” rating and issued a $410.00 price target on shares of Tesla in a report on Friday, June 6th. HSBC dropped their price objective on shares of Tesla from $165.00 to $130.00 and set a “reduce” rating on the stock in a report on Thursday, March 27th. Finally, Robert W. Baird restated a “neutral” rating and issued a $320.00 target price on shares of Tesla in a research note on Monday, June 9th. 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 issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $298.37.

View Our Latest Research Report on TSLA

Insider Activity at Tesla

In other news, SVP Xiaotong Zhu sold 15,000 shares of the business’s stock in a transaction dated 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 completion of the transaction, the senior vice president owned 67,600 shares of the company’s stock, valued at approximately $21,889,556. The trade was a 18.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of the company’s 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 completion of the transaction, the director owned 855,394 shares in the company, valued at approximately $305,632,276.20. This trade represents a 35.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 833,509 shares of company stock valued at $278,648,925 in the last ninety days. 20.70% of the stock is currently owned by corporate insiders.

Tesla Trading Down 5.3%

Shares of TSLA opened at $300.71 on Wednesday. Tesla, Inc. has a twelve month low of $182.00 and a twelve month high of $488.54. The stock has a market cap of $968.57 billion, a PE ratio of 165.23, a P/E/G ratio of 12.06 and a beta of 2.40. 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 business’s 50-day moving average price is $317.99 and its 200-day moving average price is $328.19.

Tesla (NASDAQ:TSLAGet Free Report) last posted its 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 during the quarter, compared to analysts’ expectations of $22.93 billion. Tesla had a return on equity of 9.02% and a net margin of 6.66%. During the same quarter in the prior year, the company earned $0.45 earnings per share. On average, equities analysts forecast that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

About Tesla

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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