Leelyn Smith LLC Sells 511 Shares of Tesla, Inc. (NASDAQ:TSLA)

by · The Cerbat Gem

Leelyn Smith LLC lowered its position in shares of Tesla, Inc. (NASDAQ:TSLA – Free Report) by 4.4% during the first quarter, HoldingsChannel.com reports. The fund owned 11,050 shares of the electric vehicle producer’s stock after selling 511 shares during the quarter. Leelyn Smith LLC’s holdings in Tesla were worth $2,864,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Susquehanna Fundamental Investments LLC acquired a new position in shares of Tesla during the fourth quarter valued at about $56,600,000. Means Investment CO. Inc. raised its holdings in Tesla by 37.7% during the first quarter. Means Investment CO. Inc. now owns 23,089 shares of the electric vehicle producer’s stock worth $5,984,000 after buying an additional 6,323 shares during the last quarter. Focus Financial Network Inc. grew its holdings in shares of Tesla by 3.1% during the first quarter. Focus Financial Network Inc. now owns 22,467 shares of the electric vehicle producer’s stock valued at $5,823,000 after buying an additional 670 shares during the last quarter. IFM Investors Pty Ltd raised its holdings in shares of Tesla by 8.5% in the 1st quarter. IFM Investors Pty Ltd now owns 586,460 shares of the electric vehicle producer’s stock worth $153,436,000 after acquiring an additional 46,087 shares during the last quarter. Finally, Harvard Management Co. Inc. acquired a new position in Tesla during the 4th quarter valued at about $8,158,000. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a research report on Wednesday, April 23rd. HSBC reiterated a “reduce” rating and issued a $120.00 target price on shares of Tesla in a research note on Thursday, July 3rd. Piper Sandler restated an “overweight” rating and set a $400.00 price target on shares of Tesla in a report on Tuesday, June 10th. Cfra Research lowered shares of Tesla from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, April 22nd. Finally, Glj Research restated a “sell” rating and issued a $19.05 target price (down previously from $24.86) on shares of Tesla in a research note on Monday, April 21st. Ten equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $300.19.

Read Our Latest Stock Report on Tesla

Insider Transactions at Tesla

In other news, CFO Vaibhav Taneja sold 2,000 shares of Tesla stock in a transaction that occurred on Tuesday, July 8th. The stock was sold at an average price of $300.00, for a total value of $600,000.00. Following the completion of the transaction, the chief financial officer owned 5,924 shares in the company, valued at approximately $1,777,200. The trade was a 25.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kimbal Musk sold 91,588 shares of the firm’s stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $357.39, for a total value of $32,732,635.32. Following the completion of the sale, the director owned 1,463,220 shares of the company’s stock, valued at approximately $522,940,195.80. This represents a 5.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 835,509 shares of company stock valued at $279,420,485. 20.70% of the stock is owned by company insiders.

Tesla Stock Performance

Shares of TSLA opened at $313.51 on Monday. The company has a current ratio of 2.00, a quick ratio of 1.54 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a 12 month low of $182.00 and a 12 month high of $488.54. The company has a market cap of $1.01 trillion, a price-to-earnings ratio of 172.26, a P/E/G ratio of 9.33 and a beta of 2.39. The business’s fifty day simple moving average is $322.60 and its two-hundred day simple moving average is $319.32.

Tesla (NASDAQ:TSLA – Get Free Report) last announced its quarterly earnings results 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). Tesla had a return on equity of 9.02% and a net margin of 6.66%. The company had revenue of $19.34 billion during the quarter, compared to the consensus estimate of $22.93 billion. During the same quarter in the prior year, the firm earned $0.45 earnings per share. Research analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

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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