Ibex Wealth Advisors Decreases Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Ibex Wealth Advisors decreased its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 17.0% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,302 shares of the electric vehicle producer’s stock after selling 1,698 shares during the period. Ibex Wealth Advisors’ holdings in Tesla were worth $2,152,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Susquehanna Fundamental Investments LLC bought a new position in Tesla during the fourth quarter valued at $56,600,000. Strategic Family Wealth Counselors L.L.C. increased its position in Tesla by 133.7% during the fourth quarter. Strategic Family Wealth Counselors L.L.C. now owns 2,847 shares of the electric vehicle producer’s stock valued at $1,150,000 after acquiring an additional 1,629 shares during the last quarter. Harvard Management Co. Inc. bought a new position in Tesla during the fourth quarter valued at $8,158,000. Vontobel Holding Ltd. grew its holdings in shares of Tesla by 23.0% in the fourth quarter. Vontobel Holding Ltd. now owns 322,300 shares of the electric vehicle producer’s stock worth $130,158,000 after purchasing an additional 60,342 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its holdings in shares of Tesla by 451.9% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 285,121 shares of the electric vehicle producer’s stock worth $115,143,000 after purchasing an additional 233,460 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

Insider Buying and Selling at Tesla

In other news, CFO Vaibhav Taneja sold 4,000 shares of the company’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 value of $1,000,000.00. Following the transaction, the chief financial officer now directly owns 26,950 shares in the company, valued at approximately $6,737,500. This represents a 12.92% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Kimbal Musk sold 91,588 shares of the company’s stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $357.39, for a total transaction of $32,732,635.32. Following the completion of the transaction, the director now owns 1,463,220 shares in the company, valued at approximately $522,940,195.80. This represents a 5.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 818,509 shares of company stock worth $273,791,775 in the last ninety days. 20.70% of the stock is owned by insiders.

Wall Street Analyst Weigh In

TSLA has been the subject of a number of research reports. Barclays lowered their price objective 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. Truist Financial set a $280.00 price objective on shares of Tesla in a research note on Tuesday, April 22nd. Stifel Nicolaus set a $450.00 price objective on shares of Tesla and gave the stock a “buy” rating in a research note on Thursday, April 24th. Bank of America lowered their price objective on shares of Tesla from $490.00 to $380.00 and set a “neutral” rating for the company in a research note on Tuesday, March 4th. Finally, Cowen raised shares of Tesla from a “hold” rating to a “buy” rating in a research note on Thursday, March 6th. 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 assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $293.67.

Tesla Price Performance

Shares of NASDAQ TSLA opened at $308.58 on Tuesday. The firm has a market cap of $993.92 billion, a PE ratio of 151.27, a PEG ratio of 5.86 and a beta of 2.47. Tesla, Inc. has a one year low of $167.41 and a one year high of $488.54. The firm has a fifty day moving average of $292.68 and a 200 day moving average of $333.20. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results 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 business had revenue of $19.34 billion for the quarter, compared to analyst estimates of $22.93 billion. Tesla had a return on equity of 10.31% and a net margin of 7.26%. During the same quarter in the previous year, the firm posted $0.45 earnings per share. As a group, research analysts predict that Tesla, Inc. will post 2.56 EPS for the current fiscal 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.