Accredited Wealth Management LLC Sells 101 Shares of Tesla, Inc. $TSLA

Accredited Wealth Management LLC trimmed its position in Tesla, Inc. (NASDAQ:TSLA) by 19.3% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 423 shares of the electric vehicle producer’s stock after selling 101 shares during the quarter. Accredited Wealth Management LLC’s holdings in Tesla were worth $110,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Rinkey Investments grew its holdings in shares of Tesla by 3.5% during the fourth quarter. Rinkey Investments now owns 860 shares of the electric vehicle producer’s stock worth $347,000 after buying an additional 29 shares in the last quarter. True Wealth Design LLC lifted its stake in Tesla by 79.5% in the 4th quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer’s stock worth $28,000 after purchasing an additional 31 shares in the last quarter. Acorn Wealth Advisors LLC boosted its holdings in shares of Tesla by 1.9% during the 1st quarter. Acorn Wealth Advisors LLC now owns 1,901 shares of the electric vehicle producer’s stock worth $493,000 after purchasing an additional 36 shares during the last quarter. Solutions 4 Wealth Ltd grew its position in shares of Tesla by 2.0% in the first quarter. Solutions 4 Wealth Ltd now owns 1,815 shares of the electric vehicle producer’s stock valued at $470,000 after purchasing an additional 36 shares in the last quarter. Finally, Capital Management Associates Inc increased its holdings in shares of Tesla by 3.4% in the first quarter. Capital Management Associates Inc now owns 1,166 shares of the electric vehicle producer’s stock valued at $302,000 after purchasing an additional 38 shares during the last quarter. 66.20% of the stock is owned by institutional investors.

Tesla Stock Performance

Shares of Tesla stock opened at $323.90 on Thursday. The stock has a market capitalization of $1.04 trillion, a price-to-earnings ratio of 187.23, a price-to-earnings-growth ratio of 11.45 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. The business has a 50-day moving average of $320.96 and a 200 day moving average of $304.40. Tesla, Inc. has a 12 month low of $202.59 and a 12 month high of $488.54.

Tesla (NASDAQ:TSLA) last issued 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 return on equity of 7.98% and a net margin of 6.54%.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 company posted $0.52 EPS. The firm’s revenue for the quarter was down 11.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current year.

Analysts Set New Price Targets

TSLA has been the subject of several analyst reports. Bank of America upped their target price on Tesla from $305.00 to $341.00 and gave the company a “neutral” rating in a report on Monday, July 21st. Cantor Fitzgerald cut their price objective on shares of Tesla from $425.00 to $355.00 and set an “overweight” rating for the company in a research report on Wednesday, April 23rd. Morgan Stanley reiterated an “overweight” rating and issued a $410.00 target price on shares of Tesla in a report on Friday, June 6th. JPMorgan Chase & Co. cut their price target on shares of Tesla from $120.00 to $115.00 and set an “underweight” rating for the company in a report on Wednesday, April 23rd. Finally, Guggenheim reiterated a “sell” rating and issued a $175.00 price objective on shares of Tesla in a report on Wednesday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, fifteen have assigned a Hold rating and nine have issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $303.31.

Insider Buying and Selling

In related 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 value of $600,000.00. Following the completion of the transaction, the chief financial officer directly owned 5,924 shares in the company, 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 document filed with the SEC, which is accessible through this hyperlink. Also, Director Kimbal Musk sold 91,588 shares of the company’s stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $357.39, for a total value of $32,732,635.32. Following the sale, the director owned 1,463,220 shares in the company, valued at approximately $522,940,195.80. This trade represents a 5.89% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 599,724 shares of company stock worth $213,126,501 over the last ninety days. Insiders own 20.70% of the company’s stock.

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.