Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Strata Wealth Advisors LLC

by · The Markets Daily

Strata Wealth Advisors LLC lowered its position in Tesla, Inc. (NASDAQ:TSLA – Free Report) by 53.3% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,346 shares of the electric vehicle producer’s stock after selling 1,538 shares during the period. Strata Wealth Advisors LLC’s holdings in Tesla were worth $349,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. OVERSEA CHINESE BANKING Corp Ltd grew its holdings in shares of Tesla by 278.4% in the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 344,827 shares of the electric vehicle producer’s stock worth $89,365,000 after acquiring an additional 253,708 shares during the period. Zeit Capital LLC acquired a new stake in shares of Tesla in the 1st quarter worth approximately $104,000. Apollon Financial LLC lifted its stake in Tesla by 10.6% in the 1st quarter. Apollon Financial LLC now owns 1,612 shares of the electric vehicle producer’s stock valued at $418,000 after buying an additional 154 shares in the last quarter. Apollon Wealth Management LLC lifted its stake in Tesla by 3.9% in the 1st quarter. Apollon Wealth Management LLC now owns 87,084 shares of the electric vehicle producer’s stock valued at $22,569,000 after buying an additional 3,281 shares in the last quarter. Finally, Hohimer Wealth Management LLC lifted its stake in Tesla by 2.5% in the 1st quarter. Hohimer Wealth Management LLC now owns 9,533 shares of the electric vehicle producer’s stock valued at $2,471,000 after buying an additional 230 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Roth Mkm reduced their target price on Tesla from $450.00 to $395.00 and set a “buy” rating on the stock in a research note on Wednesday, April 23rd. Robert W. Baird reaffirmed a “neutral” rating and issued a $320.00 target price on shares of Tesla in a research note on Monday, June 9th. Raymond James Financial lowered Tesla to an “outperform” rating in a research note on Tuesday, April 22nd. Mizuho reduced their price target on Tesla from $390.00 to $375.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 8th. Finally, HSBC reissued a “reduce” rating and set a $120.00 price target on shares of Tesla in a research note on Thursday, July 3rd. Ten equities 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. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $300.19.

Read Our Latest Analysis on TSLA

Insiders Place Their Bets

In related news, Director Ira Matthew Ehrenpreis sold 477,572 shares of Tesla stock in a transaction dated 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 trade represents a 35.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Xiaotong Zhu sold 15,000 shares of Tesla stock in a transaction dated 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 completion of the transaction, the senior vice president owned 67,600 shares of the company’s stock, valued at $21,889,556. This trade represents a 18.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 835,509 shares of company stock valued at $279,420,485. 20.70% of the stock is owned by company insiders.

Tesla Stock Up 1.2%

Shares of Tesla stock opened at $313.51 on Monday. The business has a 50-day moving average of $322.60 and a 200-day moving average of $319.32. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.00 and a quick ratio of 1.54. The company has a market capitalization of $1.01 trillion, a PE ratio of 172.26, a P/E/G ratio of 9.33 and a beta of 2.39. 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 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 business had revenue of $19.34 billion for the quarter, compared to analyst estimates of $22.93 billion. Tesla had a net margin of 6.66% and a return on equity of 9.02%. During the same quarter in the prior year, the business earned $0.45 earnings per share. As a group, equities analysts forecast that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

About Tesla

(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.

Further Reading

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