Apollon Wealth Management LLC Purchases 3,281 Shares of Tesla, Inc. (NASDAQ:TSLA)

by · The Cerbat Gem

Apollon Wealth Management LLC lifted its position in Tesla, Inc. (NASDAQ:TSLA – Free Report) by 3.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 87,084 shares of the electric vehicle producer’s stock after buying an additional 3,281 shares during the quarter. Apollon Wealth Management LLC’s holdings in Tesla were worth $22,569,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. True Wealth Design LLC grew its stake in shares of Tesla by 79.5% in the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer’s stock valued at $28,000 after buying an additional 31 shares in the last quarter. Horrell Capital Management Inc. grew its stake in shares of Tesla by 75.6% in the fourth quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock valued at $32,000 after buying an additional 34 shares in the last quarter. GS Investments Inc. grew its stake in shares of Tesla by 193.3% in the fourth quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock valued at $36,000 after buying an additional 58 shares in the last quarter. Navigoe LLC bought a new position in shares of Tesla in the fourth quarter valued at $37,000. Finally, CoreFirst Bank & Trust acquired a new stake in Tesla during the 4th quarter valued at $38,000. 66.20% of the stock is owned by institutional investors.

Tesla Stock Performance

NASDAQ:TSLA opened at $313.51 on Monday. The stock has a market cap of $1.01 trillion, a P/E ratio of 172.26, a price-to-earnings-growth ratio of 9.33 and a beta of 2.39. The company has a current ratio of 2.00, a quick ratio of 1.54 and a debt-to-equity ratio of 0.07. The stock’s 50-day moving average is $322.60 and its 200-day moving average is $319.32. Tesla, Inc. has a 1-year low of $182.00 and a 1-year high of $488.54.

Tesla (NASDAQ:TSLA – Get Free Report) last released its quarterly earnings results 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 return on equity of 9.02% and a net margin of 6.66%. During the same quarter last year, the firm posted $0.45 earnings per share. Equities research analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on TSLA shares. Truist Financial set a $280.00 price target on Tesla in a report on Tuesday, April 22nd. Cfra Research downgraded Tesla from a “moderate buy” rating to a “hold” rating in a report on Tuesday, April 22nd. Roth Mkm cut their price target on Tesla from $450.00 to $395.00 and set a “buy” rating for the company in a report on Wednesday, April 23rd. Mizuho cut their price target on Tesla from $390.00 to $375.00 and set an “outperform” rating for the company in a report on Tuesday, July 8th. Finally, Wedbush reaffirmed an “outperform” rating and set a $500.00 price target on shares of Tesla in a report on Tuesday, July 8th. Ten investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $300.19.

Read Our Latest Research Report on TSLA

Insider Transactions at Tesla

In related news, SVP Xiaotong Zhu sold 15,000 shares of Tesla stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $323.81, for a total value of $4,857,150.00. Following the transaction, the senior vice president directly owned 67,600 shares of the company’s stock, valued at $21,889,556. The trade was a 18.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of Tesla stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $357.30, for a total value of $170,636,475.60. Following the completion of the transaction, the director directly owned 855,394 shares in the company, valued at approximately $305,632,276.20. This represents a 35.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 835,509 shares of company stock valued at $279,420,485. 20.70% of the stock is currently owned by company insiders.

Tesla Profile

(Free Report)

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.

See Also

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