Elyxium Wealth LLC Has $1.76 Million Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Elyxium Wealth LLC trimmed its position in Tesla, Inc. (NASDAQ:TSLA) by 6.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,787 shares of the electric vehicle producer’s stock after selling 445 shares during the quarter. Elyxium Wealth LLC’s holdings in Tesla were worth $1,759,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in Tesla during the 4th quarter worth $14,420,248,000. FMR LLC raised its stake in Tesla by 40.1% during the 4th quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer’s stock worth $13,997,660,000 after buying an additional 9,920,325 shares during the period. GAMMA Investing LLC raised its stake in Tesla by 27,378.6% during the 1st quarter. GAMMA Investing LLC now owns 9,812,316 shares of the electric vehicle producer’s stock worth $2,542,960,000 after buying an additional 9,776,607 shares during the period. Massachusetts Financial Services Co. MA raised its stake in Tesla by 4,963.0% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 5,834,707 shares of the electric vehicle producer’s stock worth $2,356,288,000 after buying an additional 5,719,466 shares during the period. Finally, Northern Trust Corp grew its position in shares of Tesla by 21.6% in the 4th quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer’s stock valued at $11,541,592,000 after purchasing an additional 5,075,418 shares during the period. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on TSLA. Baird R W downgraded Tesla from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 9th. Roth Mkm reduced their price target on Tesla from $450.00 to $395.00 and set a “buy” rating for the company in a research report on Wednesday, April 23rd. Morgan Stanley reaffirmed an “overweight” rating and set a $410.00 price target on shares of Tesla in a research report on Friday, June 6th. Barclays dropped their price objective on Tesla from $325.00 to $275.00 and set an “equal weight” rating on the stock in a research note on Monday, April 21st. Finally, Guggenheim reiterated a “sell” rating and set a $175.00 price objective on shares of Tesla in a research note on Tuesday, July 8th. Ten research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $300.19.

Tesla Price Performance

Tesla stock opened at $329.65 on Friday. 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 company has a market capitalization of $1.06 trillion, a PE ratio of 181.13, a P/E/G ratio of 12.56 and a beta of 2.39. Tesla, Inc. has a 12 month low of $182.00 and a 12 month high of $488.54. The stock has a 50-day moving average price of $326.27 and a two-hundred day moving average price of $316.70.

Tesla (NASDAQ:TSLA) last issued 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). 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 last year, the business earned $0.45 earnings per share. Analysts expect that Tesla, Inc. will post 2.56 EPS for the current year.

Insiders Place Their Bets

In related news, Director Kimbal Musk sold 91,588 shares of the firm’s stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $357.39, for a total transaction 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 $522,940,195.80. This trade represents a 5.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Vaibhav Taneja sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 8th. The shares were sold at an average price of $300.00, for a total value of $600,000.00. Following the completion of the sale, the chief financial officer directly owned 5,924 shares of the company’s stock, valued at $1,777,200. This trade represents a 25.24% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 835,509 shares of company stock worth $279,420,485. Company insiders own 20.70% of the company’s stock.

About Tesla

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.