Petros Family Wealth LLC Sells 469 Shares of Tesla, Inc. (NASDAQ:TSLA)

Petros Family Wealth LLC cut its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 13.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,955 shares of the electric vehicle producer’s stock after selling 469 shares during the quarter. Petros Family Wealth LLC’s holdings in Tesla were worth $766,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TSLA. True Wealth Design LLC grew its holdings in Tesla by 79.5% during the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer’s stock valued at $28,000 after purchasing an additional 31 shares during the period. Horrell Capital Management Inc. raised 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 during the period. GS Investments Inc. lifted its position in shares of Tesla by 193.3% during the 4th 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 during the last quarter. Navigoe LLC bought a new position in shares of Tesla during the 4th quarter worth $37,000. Finally, CoreFirst Bank & Trust purchased a new stake in Tesla in the 4th quarter worth about $38,000. 66.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

TSLA has been the topic of several recent research reports. Roth Mkm dropped their price objective on shares of Tesla from $450.00 to $395.00 and set a “buy” rating on the stock in a report on Wednesday, April 23rd. Wedbush reissued an “outperform” rating and issued a $500.00 price target on shares of Tesla in a research report on Friday, June 20th. Royal Bank Of Canada dropped their price target on shares of Tesla from $314.00 to $307.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 23rd. The Goldman Sachs Group reissued a “neutral” rating on shares of Tesla in a report on Friday. Finally, Wells Fargo & Company dropped their price objective on Tesla from $135.00 to $130.00 and set an “underweight” rating on the stock in a report on Friday, March 14th. Ten analysts have rated the stock with a sell rating, thirteen have given a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $294.58.

Insider Buying and Selling

In other Tesla news, Director Robyn M. Denholm sold 112,390 shares of the stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $285.58, for a total value of $32,096,336.20. Following the completion of the sale, the director now owns 85,000 shares in the company, valued at approximately $24,274,300. This trade represents a 56.94% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Vaibhav Taneja sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $250.00, for a total value of $1,000,000.00. Following the transaction, the chief financial officer now directly owns 26,950 shares in the company, 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 have sold a total of 833,509 shares of company stock valued at $278,648,925 over the last three months. 20.70% of the stock is owned by company insiders.

Tesla Stock Down 2.4%

Shares of NASDAQ:TSLA opened at $340.47 on Wednesday. Tesla, Inc. has a 12-month low of $182.00 and a 12-month high of $488.54. 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 price is $309.87 and its 200-day moving average price is $331.48. The stock has a market capitalization of $1.10 trillion, a P/E ratio of 187.07, a price-to-earnings-growth ratio of 13.04 and a beta of 2.47.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $22.93 billion. During the same quarter in the previous year, the business earned $0.45 earnings per share. On average, equities analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current year.

Tesla Company 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.