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

Ritholtz Wealth Management decreased its holdings in Tesla, Inc. (NASDAQ:TSLA) by 0.4% during the 1st quarter, HoldingsChannel reports. The fund owned 38,686 shares of the electric vehicle producer’s stock after selling 146 shares during the quarter. Ritholtz Wealth Management’s holdings in Tesla were worth $10,026,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Vanguard Group Inc. lifted its stake in shares of Tesla by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 243,193,181 shares of the electric vehicle producer’s stock worth $98,211,134,000 after acquiring an additional 3,571,793 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Tesla by 2.8% in the fourth quarter. Geode Capital Management LLC now owns 61,011,604 shares of the electric vehicle producer’s stock worth $24,566,217,000 after acquiring an additional 1,655,203 shares in the last quarter. Norges Bank acquired a new position in shares of Tesla in the fourth quarter worth about $14,420,248,000. FMR LLC lifted its stake in shares of Tesla by 40.1% in the fourth quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer’s stock worth $13,997,660,000 after acquiring an additional 9,920,325 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in Tesla by 21.6% in the fourth quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer’s stock valued at $11,541,592,000 after buying an additional 5,075,418 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insiders Place Their Bets

In other Tesla news, Director Robyn M. Denholm sold 112,390 shares of the company’s stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $285.58, for a total value of $32,096,336.20. Following the completion of 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Vaibhav Taneja sold 2,564 shares of the company’s stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $285.71, for a total value of $732,560.44. Following the completion of the sale, the chief financial officer now owns 5,924 shares of the company’s stock, valued at $1,692,546.04. This trade represents a 30.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 818,509 shares of company stock worth $273,791,775 over the last ninety days. Company insiders own 20.70% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on TSLA. Raymond James lowered Tesla to an “outperform” rating in a report on Tuesday, April 22nd. Piper Sandler reissued an “overweight” rating and issued a $400.00 price objective on shares of Tesla in a report on Tuesday. UBS Group lowered their price objective on Tesla from $225.00 to $190.00 and set a “sell” rating for the company in a report on Thursday, April 10th. Royal Bank of Canada lowered their price objective on Tesla from $314.00 to $307.00 and set an “outperform” rating for the company in a report on Wednesday, April 23rd. Finally, Stifel Nicolaus set a $450.00 price objective on Tesla and gave the company a “buy” rating in a report on Thursday, April 24th. Ten equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $293.67.

Tesla Stock Performance

Shares of TSLA stock opened at $325.31 on Friday. Tesla, Inc. has a 12-month low of $177.00 and a 12-month high of $488.54. The firm has a market capitalization of $1.05 trillion, a price-to-earnings ratio of 159.47, a price-to-earnings-growth ratio of 5.86 and a beta of 2.47. The business has a 50 day simple moving average of $299.39 and a 200 day simple moving average of $332.88. 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 (NASDAQ:TSLA) last released 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 firm had revenue of $19.34 billion during 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 last year, the company earned $0.45 earnings per share. On average, equities research analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current year.

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.