Tesla, Inc. $TSLA Shares Sold by EPG Wealth Management LLC

EPG Wealth Management LLC lessened its position in Tesla, Inc. (NASDAQ:TSLA) by 64.6% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 1,045 shares of the electric vehicle producer’s stock after selling 1,903 shares during the period. EPG Wealth Management LLC’s holdings in Tesla were worth $332,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Brighton Jones LLC lifted its stake in shares of Tesla by 11.8% in the fourth 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 period. Revolve Wealth Partners LLC lifted its stake in shares of Tesla by 21.2% in the fourth quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer’s stock valued at $2,147,000 after purchasing an additional 931 shares during the period. Bison Wealth LLC lifted its stake in shares of Tesla by 52.2% in the fourth quarter. Bison Wealth LLC now owns 10,368 shares of the electric vehicle producer’s stock valued at $4,187,000 after purchasing an additional 3,558 shares during the period. Compass Wealth Management LLC lifted its stake in shares of Tesla by 360.0% in the first quarter. Compass Wealth Management LLC now owns 115 shares of the electric vehicle producer’s stock valued at $30,000 after purchasing an additional 90 shares during the period. Finally, Envestnet Asset Management Inc. lifted its stake in shares of Tesla by 4.7% in the first quarter. Envestnet Asset Management Inc. now owns 1,267,853 shares of the electric vehicle producer’s stock valued at $328,577,000 after purchasing an additional 57,189 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insider Activity at Tesla

In related news, Director James R. Murdoch sold 60,000 shares of the business’s stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $422.68, for a total value of $25,360,800.00. Following the completion of the sale, the director directly owned 637,031 shares in the company, valued at approximately $269,260,263.08. The trade was a 8.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Vaibhav Taneja sold 2,606 shares of the business’s stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $352.38, for a total transaction of $918,302.28. Following the completion of the sale, the chief financial officer owned 9,856 shares of the company’s stock, valued at approximately $3,473,057.28. The trade was a 20.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 202,606 shares of company stock worth $75,588,902. 19.90% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on TSLA shares. Melius started coverage on shares of Tesla in a report on Monday, October 13th. They set a “buy” rating and a $520.00 target price for the company. Daiwa Capital Markets restated a “neutral” rating on shares of Tesla in a report on Sunday, July 27th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Tesla from $435.00 to $440.00 and gave the company a “buy” rating in a report on Thursday, October 23rd. Glj Research restated a “sell” rating on shares of Tesla in a report on Wednesday, October 22nd. Finally, Piper Sandler raised their target price on shares of Tesla from $400.00 to $500.00 and gave the company an “overweight” rating in a report on Monday, September 22nd. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, twelve have issued a Hold rating and eleven have given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $390.27.

Tesla Stock Performance

NASDAQ:TSLA opened at $468.37 on Tuesday. The firm has a 50 day simple moving average of $412.95 and a 200-day simple moving average of $350.47. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.07 and a quick ratio of 1.67. The firm has a market cap of $1.56 trillion, a PE ratio of 312.25, a P/E/G ratio of 16.84 and a beta of 2.08. Tesla, Inc. has a 1-year low of $214.25 and a 1-year high of $488.54.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, October 22nd. The electric vehicle producer reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.02. The business had revenue of $28.10 billion during the quarter, compared to analyst estimates of $24.98 billion. Tesla had a net margin of 5.51% and a return on equity of 6.61%. The company’s revenue was up 11.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.72 earnings per share. On average, equities analysts expect that Tesla, Inc. will post 2.56 EPS for the current year.

Tesla 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.