Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Pines Wealth Management LLC

Pines Wealth Management LLC reduced its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 15.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,422 shares of the electric vehicle producer’s stock after selling 814 shares during the period. Pines Wealth Management LLC’s holdings in Tesla were worth $1,146,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in TSLA. True Wealth Design LLC grew its stake in Tesla by 79.5% during 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. boosted its stake in shares of Tesla by 75.6% during the 4th quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock valued at $32,000 after buying an additional 34 shares during the last quarter. GS Investments Inc. grew its position 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 buying an additional 58 shares in the last quarter. Navigoe LLC bought a new stake in shares of Tesla in the fourth quarter worth $37,000. Finally, CoreFirst Bank & Trust acquired a new stake in Tesla in the fourth quarter valued at $38,000. 66.20% of the stock is owned by institutional investors and hedge funds.

Tesla Price Performance

NASDAQ TSLA opened at $295.14 on Friday. The firm has a market capitalization of $950.63 billion, a PE ratio of 144.68, a P/E/G ratio of 5.86 and a beta of 2.47. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. Tesla, Inc. has a 12 month low of $167.41 and a 12 month high of $488.54. The company’s 50 day simple moving average is $292.17 and its 200 day simple moving average is $333.62.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS 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 the consensus estimate of $22.93 billion. Tesla had a return on equity of 10.31% and a net margin of 7.26%. During the same period in the prior year, the firm posted $0.45 EPS. As a group, equities research analysts forecast that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Vaibhav Taneja sold 1,000 shares of the firm’s stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $350.00, for a total transaction of $350,000.00. Following the completion of the sale, the chief financial officer now directly owns 1,950 shares of the company’s stock, valued at $682,500. This trade represents a 33.90% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Kimbal Musk sold 91,588 shares of the business’s stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $357.39, for a total value of $32,732,635.32. Following the sale, the director now directly owns 1,463,220 shares in the company, valued at $522,940,195.80. This trade represents a 5.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 870,721 shares of company stock valued at $286,248,728 over the last three months. Company insiders own 20.70% of the company’s stock.

Wall Street Analyst Weigh In

TSLA has been the subject of several research analyst reports. Truist Financial set a $280.00 target price on shares of Tesla in a research report on Tuesday, April 22nd. Morgan Stanley reissued an “overweight” rating on shares of Tesla in a report on Friday. Wells Fargo & Company reduced their target price on Tesla from $135.00 to $130.00 and set an “underweight” rating on the stock in a report on Friday, March 14th. Cfra Research lowered Tesla from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, April 22nd. Finally, Cowen raised Tesla from a “hold” rating to a “buy” rating in a research report on Thursday, March 6th. Ten investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $294.27.

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.