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

by · The Cerbat Gem

Diversify Wealth Management LLC trimmed its stake in shares of Tesla, Inc. (NASDAQ:TSLA – Free Report) by 42.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 14,351 shares of the electric vehicle producer’s stock after selling 10,599 shares during the quarter. Diversify Wealth Management LLC’s holdings in Tesla were worth $3,719,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Xponance Inc. raised its position in shares of Tesla by 2.9% during the 1st quarter. Xponance Inc. now owns 718,438 shares of the electric vehicle producer’s stock worth $186,190,000 after purchasing an additional 20,248 shares during the period. Clientfirst Wealth Management LLC raised its position in shares of Tesla by 47.6% during the 1st quarter. Clientfirst Wealth Management LLC now owns 1,550 shares of the electric vehicle producer’s stock worth $402,000 after purchasing an additional 500 shares during the period. Country Club Bank raised its position in shares of Tesla by 4.3% during the 1st quarter. Country Club Bank now owns 10,471 shares of the electric vehicle producer’s stock worth $2,760,000 after purchasing an additional 427 shares during the period. Fidelis Capital Partners LLC raised its position in shares of Tesla by 5.7% during the 1st quarter. Fidelis Capital Partners LLC now owns 20,669 shares of the electric vehicle producer’s stock worth $5,890,000 after purchasing an additional 1,106 shares during the period. Finally, Robeco Schweiz AG raised its position in shares of Tesla by 4.4% during the 1st quarter. Robeco Schweiz AG now owns 99,579 shares of the electric vehicle producer’s stock worth $25,807,000 after purchasing an additional 4,179 shares during the period. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Tesla news, CFO Vaibhav Taneja sold 6,000 shares of the firm’s stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $341.02, for a total value of $2,046,120.00. Following the sale, the chief financial officer owned 1,950 shares in the company, valued at $664,989. This trade represents a 75.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at 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 shares were sold at an average price of $323.81, for a total transaction of $4,857,150.00. Following the completion of the sale, the senior vice president owned 67,600 shares in the company, valued at $21,889,556. This represents a 18.16% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 835,509 shares of company stock valued at $279,420,485 over the last three months. 20.70% of the stock is owned by corporate insiders.

Tesla Stock Performance

Shares of NASDAQ:TSLA opened at $309.87 on Friday. The company’s 50 day simple moving average is $322.07 and its 200 day simple moving average is $322.26. The stock has a market capitalization of $998.08 billion, a price-to-earnings ratio of 170.26, a price-to-earnings-growth ratio of 8.80 and a beta of 2.39. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.00 and a quick ratio of 1.54. 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 announced its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) 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 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 last year, the business earned $0.45 earnings per share. As a group, research analysts predict that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on TSLA. Wells Fargo & Company dropped their price target on Tesla from $135.00 to $130.00 and set an “underweight” rating on the stock in a research report on Friday, March 14th. Morgan Stanley restated an “overweight” rating and issued a $410.00 target price on shares of Tesla in a research report on Friday, June 6th. Benchmark restated a “buy” rating and issued a $475.00 target price (up from $350.00) on shares of Tesla in a research report on Thursday, June 26th. Oppenheimer restated a “mixed” rating on shares of Tesla in a report on Tuesday, March 18th. Finally, Guggenheim restated a “sell” rating and set a $175.00 target price on shares of Tesla in a report on Tuesday. 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat, Tesla has an average rating of “Hold” and an average target price of $301.13.

Get Our Latest Stock Analysis on Tesla

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.

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