SNS Financial Group LLC Has $925,000 Stake in Tesla, Inc. (NASDAQ:TSLA)

SNS Financial Group LLC trimmed its position in Tesla, Inc. (NASDAQ:TSLA) by 52.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,568 shares of the electric vehicle producer’s stock after selling 3,937 shares during the period. SNS Financial Group LLC’s holdings in Tesla were worth $925,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of TSLA. Rinkey Investments increased its stake in shares of Tesla by 3.5% during the fourth quarter. Rinkey Investments now owns 860 shares of the electric vehicle producer’s stock worth $347,000 after purchasing an additional 29 shares during the period. True Wealth Design LLC increased 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 worth $28,000 after acquiring an additional 31 shares during the period. Horrell Capital Management Inc. increased its stake in Tesla by 75.6% during the 4th quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock worth $32,000 after acquiring an additional 34 shares during the period. Aldebaran Financial Inc. increased its stake in Tesla by 3.1% during the 4th quarter. Aldebaran Financial Inc. now owns 1,174 shares of the electric vehicle producer’s stock worth $490,000 after acquiring an additional 35 shares during the period. Finally, Acorn Wealth Advisors LLC increased its stake in Tesla by 1.9% during the 1st quarter. Acorn Wealth Advisors LLC now owns 1,901 shares of the electric vehicle producer’s stock worth $493,000 after acquiring an additional 36 shares during the period. Institutional investors own 66.20% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Needham & Company LLC restated a “hold” rating on shares of Tesla in a research note on Wednesday, April 23rd. Cantor Fitzgerald lowered their price objective on Tesla from $425.00 to $355.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 23rd. Benchmark restated a “buy” rating and set a $475.00 price objective (up previously from $350.00) on shares of Tesla in a research note on Thursday, June 26th. Deutsche Bank Aktiengesellschaft reduced their target price on Tesla from $420.00 to $345.00 and set a “buy” rating on the stock in a report on Friday, March 28th. Finally, UBS Group set a $290.00 target price on Tesla in a report on Monday, June 30th. Ten research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $300.19.

Insider Transactions at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 15,000 shares of the business’s stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $323.81, for a total value of $4,857,150.00. Following the sale, the senior vice president owned 67,600 shares in the company, valued at $21,889,556. The trade was a 18.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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 transaction of $32,732,635.32. Following the completion of the sale, the director owned 1,463,220 shares in the company, valued at approximately $522,940,195.80. The trade was a 5.89% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 835,509 shares of company stock valued at $279,420,485. Insiders own 20.70% of the company’s stock.

Tesla Trading Up 3.2%

Shares of NASDAQ TSLA traded up $10.24 during trading hours on Friday, hitting $329.65. The company’s stock had a trading volume of 93,904,102 shares, compared to its average volume of 98,883,688. 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 has a market cap of $1.06 trillion, a price-to-earnings ratio of 181.13, a P/E/G ratio of 12.17 and a beta of 2.39. Tesla, Inc. has a 12 month low of $182.00 and a 12 month high of $488.54. The business has a 50-day simple moving average of $326.27 and a 200-day simple moving average of $317.30.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.26). The firm had revenue of $19.34 billion for the quarter, compared to the consensus estimate of $22.93 billion. Tesla had a net margin of 6.66% and a return on equity of 9.02%. During the same period in the previous year, the firm posted $0.45 earnings per share. On average, analysts anticipate that Tesla, Inc. will post 2.56 earnings per share 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.