Wheelhouse Advisory Group LLC Lowers Position in Tesla, Inc. (NASDAQ:TSLA)

Wheelhouse Advisory Group LLC cut its holdings in Tesla, Inc. (NASDAQ:TSLA) by 8.1% in the first quarter, Holdings Channel reports. The fund owned 2,832 shares of the electric vehicle producer’s stock after selling 249 shares during the quarter. Tesla accounts for approximately 0.4% of Wheelhouse Advisory Group LLC’s portfolio, making the stock its 20th largest position. Wheelhouse Advisory Group LLC’s holdings in Tesla were worth $734,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the business. Simmons Bank lifted its stake in Tesla by 2.1% in the first quarter. Simmons Bank now owns 13,538 shares of the electric vehicle producer’s stock worth $3,509,000 after acquiring an additional 275 shares during the period. DT Investment Partners LLC lifted its stake in Tesla by 26.2% in the first quarter. DT Investment Partners LLC now owns 1,937 shares of the electric vehicle producer’s stock worth $502,000 after acquiring an additional 402 shares during the period. Elite Financial Inc. purchased a new stake in Tesla in the first quarter worth about $89,000. World Investment Advisors raised its holdings in Tesla by 8.1% in the first quarter. World Investment Advisors now owns 26,536 shares of the electric vehicle producer’s stock worth $6,877,000 after purchasing an additional 1,998 shares in the last quarter. Finally, Wayfinding Financial LLC raised its holdings in Tesla by 28.3% in the first quarter. Wayfinding Financial LLC now owns 1,088 shares of the electric vehicle producer’s stock worth $281,000 after purchasing an additional 240 shares in the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on TSLA shares. Royal Bank Of Canada reduced their target price on shares of Tesla from $314.00 to $307.00 and set an “outperform” rating for the company in a report on Wednesday, April 23rd. Roth Mkm reduced their target price on shares of Tesla from $450.00 to $395.00 and set a “buy” rating for the company in a report on Wednesday, April 23rd. The Goldman Sachs Group boosted their target price on shares of Tesla from $285.00 to $315.00 and gave the stock a “neutral” rating in a report on Thursday. BNP Paribas set a $137.00 target price on shares of Tesla and gave the stock an “underperform” rating in a report on Wednesday, April 16th. Finally, Mizuho boosted their target price on shares of Tesla from $325.00 to $390.00 and gave the stock an “outperform” rating in a report on Friday, May 16th. Ten equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Tesla currently has a consensus rating of “Hold” and a consensus price target of $301.24.

Insider Buying and Selling at Tesla

In other news, Director Ira Matthew Ehrenpreis sold 477,572 shares of the firm’s stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $357.30, for a total transaction of $170,636,475.60. Following the sale, the director owned 855,394 shares of the company’s stock, valued at $305,632,276.20. This trade represents a 35.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Xiaotong Zhu sold 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $323.81, for a total transaction of $4,857,150.00. Following the sale, the senior vice president directly owned 67,600 shares in the company, valued at $21,889,556. The trade was a 18.16% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 833,509 shares of company stock worth $278,648,925. 20.70% of the stock is currently owned by insiders.

Tesla Price Performance

Shares of NASDAQ TSLA opened at $313.56 on Friday. The business’s 50 day moving average price is $320.93 and its 200 day moving average price is $325.92. The firm has a market cap of $1.01 trillion, a P/E ratio of 172.29, a P/E/G ratio of 9.17 and a beta of 2.39. Tesla, Inc. has a 52 week low of $182.00 and a 52 week high of $488.54. The company has a quick ratio of 1.54, a current ratio of 2.00 and a debt-to-equity ratio of 0.07.

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