Financial Connections Group Inc. Has $211,000 Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Financial Connections Group Inc. decreased its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 31.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 818 shares of the electric vehicle producer’s stock after selling 372 shares during the period. Financial Connections Group Inc.’s holdings in Tesla were worth $211,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. True Wealth Design LLC lifted its position in Tesla by 79.5% during the 4th 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. Navigoe LLC acquired a new position in Tesla during the 4th quarter valued at about $37,000. Cherry Tree Wealth Management LLC lifted its position in Tesla by 86.3% during the 1st quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer’s stock valued at $25,000 after purchasing an additional 44 shares during the period. First PREMIER Bank lifted its position in Tesla by 79.2% during the 1st quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer’s stock valued at $25,000 after purchasing an additional 42 shares during the period. Finally, Marshall & Sterling Wealth Advisors Inc. acquired a new position in Tesla during the 4th quarter valued at about $39,000. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Tesla

In other news, CFO Vaibhav Taneja sold 2,000 shares of Tesla stock in a transaction on Tuesday, July 8th. The stock was sold at an average price of $300.00, for a total transaction of $600,000.00. Following the completion of the sale, the chief financial officer owned 5,924 shares of the company’s stock, valued at approximately $1,777,200. This trade represents a 25.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of Tesla stock in a transaction on 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 sale, the director directly owned 855,394 shares of the company’s stock, valued at $305,632,276.20. This represents a 35.83% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 606,724 shares of company stock worth $215,376,831 over the last ninety days. Corporate insiders own 20.70% of the company’s stock.

Tesla Trading Up 2.2%

Shares of Tesla stock opened at $309.26 on Tuesday. The business has a fifty day simple moving average of $321.62 and a two-hundred day simple moving average of $309.49. Tesla, Inc. has a 1 year low of $182.00 and a 1 year high of $488.54. The company has a market capitalization of $997.50 billion, a price-to-earnings ratio of 178.76, a P/E/G ratio of 10.63 and a beta of 2.33. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.03). Tesla had a net margin of 6.54% and a return on equity of 7.98%. The business had revenue of $22.50 billion for the quarter, compared to analyst estimates of $23.18 billion. During the same period in the prior year, the business earned $0.52 EPS. The company’s revenue for the quarter was down 11.8% compared to the same quarter last year. Research analysts forecast that Tesla, Inc. will post 2.56 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Canaccord Genuity Group upped their target price on shares of Tesla from $303.00 to $333.00 and gave the company a “buy” rating in a research report on Thursday, July 24th. Wedbush reiterated an “outperform” rating and issued a $500.00 price target on shares of Tesla in a research report on Monday. Guggenheim reiterated a “sell” rating and issued a $175.00 price target on shares of Tesla in a research report on Wednesday, July 23rd. Cantor Fitzgerald cut their price target on shares of Tesla from $425.00 to $355.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 23rd. Finally, Robert W. Baird reiterated a “neutral” rating and issued a $320.00 price target on shares of Tesla in a research report on Monday, June 9th. Ten equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $303.31.

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.