Argonautica Private Wealth Management Inc. Sells 3,397 Shares of Tesla, Inc. (NASDAQ:TSLA)

Argonautica Private Wealth Management Inc. reduced its stake in Tesla, Inc. (NASDAQ:TSLA) by 18.9% during the 1st quarter, Holdings Channel.com reports. The firm owned 14,622 shares of the electric vehicle producer’s stock after selling 3,397 shares during the period. Tesla accounts for 1.3% of Argonautica Private Wealth Management Inc.’s holdings, making the stock its 20th largest holding. Argonautica Private Wealth Management Inc.’s holdings in Tesla were worth $3,789,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of TSLA. Cherry Tree Wealth Management LLC boosted its position in Tesla by 86.3% during the 1st quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer’s stock worth $25,000 after buying an additional 44 shares during the period. First PREMIER Bank boosted its position in Tesla by 79.2% during the 1st quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer’s stock worth $25,000 after buying an additional 42 shares during the period. Newton One Investments LLC boosted its position in Tesla by 250.0% during the 1st quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer’s stock worth $27,000 after buying an additional 75 shares during the period. Arcadia Investment Management Corp MI bought a new position in Tesla during the 1st quarter worth approximately $27,000. Finally, True Wealth Design LLC raised its holdings in Tesla by 79.5% during the 4th quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer’s stock worth $28,000 after purchasing an additional 31 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Tesla news, Director Kimbal Musk sold 91,588 shares of the business’s 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 transaction, the director owned 1,463,220 shares of the company’s stock, valued at $522,940,195.80. The trade was a 5.89% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Xiaotong Zhu sold 15,000 shares of the company’s stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $323.81, for a total transaction of $4,857,150.00. Following the transaction, 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 position. The disclosure for this sale can be found here. Insiders sold 835,509 shares of company stock valued at $279,420,485 in the last 90 days. Company insiders own 20.70% of the company’s stock.

Tesla Stock Up 0.1%

Shares of NASDAQ TSLA opened at $332.56 on Thursday. Tesla, Inc. has a 1 year low of $182.00 and a 1 year high of $488.54. The firm has a market cap of $1.07 trillion, a price-to-earnings ratio of 182.73, a PEG ratio of 12.61 and a beta of 2.39. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.54 and a current ratio of 2.00. The stock’s 50-day simple moving average is $326.13 and its 200-day simple moving average is $315.92.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). The company had revenue of $22.50 billion during the quarter, compared to analyst estimates of $23.18 billion. Tesla had a net margin of 6.66% and a return on equity of 9.02%. The business’s revenue was down 11.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.52 earnings per share. As a group, equities analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Analyst Ratings Changes

TSLA has been the subject of several research reports. HSBC restated a “reduce” rating and set a $120.00 price target on shares of Tesla in a research report on Thursday, July 3rd. Baird R W lowered shares of Tesla from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 9th. Truist Financial set a $280.00 price target on shares of Tesla in a research report on Tuesday, April 22nd. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Tesla from $420.00 to $345.00 and set a “buy” rating on the stock in a report on Friday, March 28th. Finally, Roth Mkm dropped their price objective on shares of Tesla from $450.00 to $395.00 and set a “buy” rating on the stock in a report on Wednesday, April 23rd. Ten 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. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $298.97.

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.