RMR Wealth Builders Has $3.21 Million Position in Tesla, Inc. (NASDAQ:TSLA)

RMR Wealth Builders lowered its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 19.5% in the first quarter, HoldingsChannel reports. The institutional investor owned 12,379 shares of the electric vehicle producer’s stock after selling 2,997 shares during the period. RMR Wealth Builders’ holdings in Tesla were worth $3,208,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of TSLA. Wealth Group Ltd. acquired a new stake in shares of Tesla during the 4th quarter valued at $275,000. Comprehensive Financial Planning Inc. PA acquired a new stake in shares of Tesla in the 4th quarter valued at $1,361,000. Tallon Kerry Patrick acquired a new stake in shares of Tesla in the 4th quarter valued at $374,000. Eagle Capital Management LLC acquired a new stake in shares of Tesla in the 4th quarter valued at $331,000. Finally, Brighton Jones LLC lifted its stake in shares of Tesla by 11.8% in the 4th quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer’s stock valued at $35,509,000 after purchasing an additional 9,293 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Stock Performance

NASDAQ TSLA opened at $319.11 on Friday. The stock has a market cap of $1.03 trillion, a P/E ratio of 156.43, a PEG ratio of 5.86 and a beta of 2.47. The company’s 50-day simple moving average is $297.32 and its 200 day simple moving average is $332.97. Tesla, Inc. has a twelve month low of $176.92 and a twelve month high of $488.54. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last posted its 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 during the quarter, compared to the consensus estimate of $22.93 billion. Tesla had a net margin of 7.26% and a return on equity of 10.31%. During the same period in the previous year, the firm earned $0.45 EPS. As a group, research analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently issued reports on TSLA shares. Benchmark reaffirmed a “buy” rating and issued a $350.00 price objective on shares of Tesla in a research note on Wednesday, April 23rd. Raymond James lowered shares of Tesla to an “outperform” rating in a research note on Tuesday, April 22nd. Truist Financial set a $280.00 price objective on shares of Tesla in a research note on Tuesday, April 22nd. UBS Group reduced their price objective on shares of Tesla from $225.00 to $190.00 and set a “sell” rating for the company in a research note on Thursday, April 10th. Finally, Bank of America cut their target price on shares of Tesla from $490.00 to $380.00 and set a “neutral” rating for the company in a research report on Tuesday, March 4th. Ten analysts have rated the stock with a sell rating, thirteen have given a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Tesla currently has an average rating of “Hold” and a consensus price target of $293.67.

Insider Activity at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 2,564 shares of the company’s stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $285.71, for a total transaction of $732,560.44. Following the sale, the chief financial officer now directly owns 5,924 shares of the company’s stock, valued at approximately $1,692,546.04. This represents a 30.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robyn M. Denholm sold 112,390 shares of the company’s stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $285.58, for a total transaction of $32,096,336.20. Following the sale, the director now directly owns 85,000 shares in the company, valued at $24,274,300. This represents a 56.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 818,509 shares of company stock valued at $273,791,775 over the last quarter. 20.70% of the stock is owned by company insiders.

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.