Left Brain Wealth Management LLC Has $7.30 Million Position in Tesla, Inc. (NASDAQ:TSLA)

Left Brain Wealth Management LLC reduced its stake in Tesla, Inc. (NASDAQ:TSLA) by 2.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 29,377 shares of the electric vehicle producer’s stock after selling 613 shares during the period. Tesla makes up 4.2% of Left Brain Wealth Management LLC’s portfolio, making the stock its 5th largest holding. Left Brain Wealth Management LLC’s holdings in Tesla were worth $7,300,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in the company. Apexium Financial LP lifted its holdings in shares of Tesla by 736.8% in the 4th quarter. Apexium Financial LP now owns 24,954 shares of the electric vehicle producer’s stock worth $6,201,000 after buying an additional 21,972 shares during the period. Mount Vernon Associates Inc. MD raised its stake in Tesla by 5.3% in the fourth quarter. Mount Vernon Associates Inc. MD now owns 6,940 shares of the electric vehicle producer’s stock worth $1,724,000 after buying an additional 350 shares in the last quarter. Forum Financial Management LP increased its holdings in shares of Tesla by 19.7% in the 4th quarter. Forum Financial Management LP now owns 21,772 shares of the electric vehicle producer’s stock valued at $5,410,000 after acquiring an additional 3,582 shares during the period. J.W. Cole Advisors Inc. lifted its stake in shares of Tesla by 16.6% during the 4th quarter. J.W. Cole Advisors Inc. now owns 46,414 shares of the electric vehicle producer’s stock worth $11,533,000 after purchasing an additional 6,615 shares during the last quarter. Finally, Catalyst Financial Partners LLC grew its stake in Tesla by 9.4% in the fourth quarter. Catalyst Financial Partners LLC now owns 6,978 shares of the electric vehicle producer’s stock valued at $1,734,000 after purchasing an additional 598 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

Insider Activity at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 650 shares of the firm’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $174.21, for a total transaction of $113,236.50. Following the transaction, the senior vice president now owns 65,155 shares of the company’s stock, valued at approximately $11,350,652.55. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, SVP Xiaotong Zhu sold 650 shares of the company’s stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $174.21, for a total transaction of $113,236.50. Following the completion of the sale, the senior vice president now directly owns 65,155 shares of the company’s stock, valued at $11,350,652.55. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Robyn M. Denholm sold 93,705 shares of Tesla stock in a transaction on Monday, May 6th. The shares were sold at an average price of $184.86, for a total value of $17,322,306.30. Following the transaction, the director now owns 15,000 shares in the company, valued at approximately $2,772,900. The disclosure for this sale can be found here. Insiders have sold a total of 104,855 shares of company stock worth $19,285,643 over the last ninety days. 20.90% of the stock is currently owned by corporate insiders.

Tesla Stock Down 3.1 %

Shares of Tesla stock traded down $5.44 on Tuesday, hitting $168.35. 40,746,551 shares of the company’s stock traded hands, compared to its average volume of 96,592,164. The company has a quick ratio of 1.17, a current ratio of 1.72 and a debt-to-equity ratio of 0.04. The firm’s 50-day moving average is $172.15 and its 200 day moving average is $196.77. The stock has a market cap of $536.90 billion, a P/E ratio of 43.28, a PEG ratio of 4.40 and a beta of 2.32. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $299.29.

Tesla (NASDAQ:TSLA) last posted its earnings results on Tuesday, April 23rd. The electric vehicle producer reported $0.35 EPS for the quarter, meeting the consensus estimate of $0.35. Tesla had a return on equity of 13.18% and a net margin of 14.37%. The company had revenue of $21.30 billion during the quarter, compared to analyst estimates of $22.15 billion. Equities analysts anticipate that Tesla, Inc. will post 1.87 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Canaccord Genuity Group cut their price objective on shares of Tesla from $234.00 to $222.00 and set a “buy” rating on the stock in a research report on Wednesday, April 24th. Guggenheim reissued a “sell” rating and issued a $122.00 price target on shares of Tesla in a report on Tuesday, April 23rd. JPMorgan Chase & Co. decreased their price target on shares of Tesla from $130.00 to $115.00 and set an “underweight” rating for the company in a report on Wednesday, April 3rd. Piper Sandler reissued an “overweight” rating and set a $205.00 price objective on shares of Tesla in a report on Monday, April 22nd. Finally, Oppenheimer restated a “market perform” rating on shares of Tesla in a research note on Wednesday, April 24th. Eight investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $185.90.

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.