Legacy Financial Group LLC Lowers Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Legacy Financial Group LLC lessened its position in Tesla, Inc. (NASDAQ:TSLA) by 9.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,819 shares of the electric vehicle producer’s stock after selling 308 shares during the quarter. Legacy Financial Group LLC’s holdings in Tesla were worth $731,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of TSLA. Vista Finance LLC grew its holdings in shares of Tesla by 0.7% in the fourth quarter. Vista Finance LLC now owns 3,510 shares of the electric vehicle producer’s stock valued at $1,417,000 after purchasing an additional 25 shares in the last quarter. Jmac Enterprises LLC grew its position in shares of Tesla by 0.7% during the fourth quarter. Jmac Enterprises LLC now owns 3,884 shares of the electric vehicle producer’s stock worth $1,569,000 after buying an additional 26 shares in the last quarter. TFB Advisors LLC increased its stake in shares of Tesla by 0.5% during the fourth quarter. TFB Advisors LLC now owns 5,213 shares of the electric vehicle producer’s stock worth $2,105,000 after buying an additional 27 shares during the period. Vista Capital Partners Inc. raised its holdings in Tesla by 1.4% in the fourth quarter. Vista Capital Partners Inc. now owns 1,969 shares of the electric vehicle producer’s stock valued at $795,000 after acquiring an additional 27 shares in the last quarter. Finally, Blackston Financial Advisory Group LLC lifted its stake in Tesla by 1.3% in the fourth quarter. Blackston Financial Advisory Group LLC now owns 2,166 shares of the electric vehicle producer’s stock worth $875,000 after acquiring an additional 27 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insider Activity at Tesla

In other news, Director James R. Murdoch sold 54,776 shares of Tesla stock in a transaction on Monday, March 10th. The stock was sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the completion of the transaction, the director now owns 477,011 shares of the company’s stock, valued at $114,859,478.69. The trade was a 10.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Vaibhav Taneja sold 4,000 shares of the firm’s stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the transaction, the chief financial officer now owns 26,950 shares of the company’s stock, valued at $6,737,500. This trade represents a 12.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 866,393 shares of company stock valued at $284,570,654 in the last ninety days. Corporate insiders own 20.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on TSLA. Stifel Nicolaus set a $450.00 price target on Tesla and gave the stock a “buy” rating in a report on Thursday, April 24th. Bank of America decreased their target price on Tesla from $490.00 to $380.00 and set a “neutral” rating for the company in a research note on Tuesday, March 4th. Benchmark reiterated a “buy” rating and issued a $350.00 price target on shares of Tesla in a research note on Wednesday, April 23rd. Robert W. Baird reduced their price objective on shares of Tesla from $370.00 to $320.00 and set an “outperform” rating for the company in a research report on Wednesday, April 23rd. Finally, Wedbush reaffirmed an “outperform” rating and issued a $500.00 target price (up from $350.00) on shares of Tesla in a research report on Friday, May 23rd. Ten analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $293.97.

Tesla Stock Performance

Shares of TSLA opened at $342.69 on Tuesday. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 52-week low of $167.41 and a 52-week high of $488.54. The company has a 50-day simple moving average of $288.33 and a 200-day simple moving average of $334.29. The company has a market capitalization of $1.10 trillion, a PE ratio of 167.99, a P/E/G ratio of 5.86 and a beta of 2.43.

Tesla (NASDAQ:TSLA) last issued its earnings results 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 company had revenue of $19.34 billion during the quarter, compared to analysts’ expectations of $22.93 billion. Tesla had a net margin of 7.26% and a return on equity of 10.31%. During the same period last year, the business posted $0.45 earnings per share. Equities research analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Tesla 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.