Tesla, Inc. $TSLA Shares Sold by Ibex Wealth Advisors

Ibex Wealth Advisors trimmed its stake in Tesla, Inc. (NASDAQ:TSLAFree Report) by 28.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,561 shares of the electric vehicle producer’s stock after selling 2,661 shares during the period. Ibex Wealth Advisors’ holdings in Tesla were worth $2,439,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Kestra Advisory Services LLC boosted its stake in Tesla by 11.0% in the first quarter. Kestra Advisory Services LLC now owns 289,105 shares of the electric vehicle producer’s stock valued at $107,475,000 after acquiring an additional 28,597 shares in the last quarter. Money Concepts Capital Corp increased its position in Tesla by 4.2% during the first quarter. Money Concepts Capital Corp now owns 5,741 shares of the electric vehicle producer’s stock worth $2,134,000 after buying an additional 234 shares during the period. Resona Asset Management Co. Ltd. lifted its stake in Tesla by 1.8% in the first quarter. Resona Asset Management Co. Ltd. now owns 892,972 shares of the electric vehicle producer’s stock valued at $329,134,000 after buying an additional 16,083 shares during the last quarter. Demars Financial Group LLC boosted its holdings in shares of Tesla by 6.1% in the first quarter. Demars Financial Group LLC now owns 2,726 shares of the electric vehicle producer’s stock valued at $1,014,000 after acquiring an additional 157 shares during the period. Finally, Capstone Capital Management Ltd grew its position in shares of Tesla by 2,113.1% during the first quarter. Capstone Capital Management Ltd now owns 14,009 shares of the electric vehicle producer’s stock worth $5,208,000 after acquiring an additional 13,376 shares during the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Tesla in a research report on Tuesday, June 30th. Roth Capital reaffirmed a “buy” rating on shares of Tesla in a report on Thursday, April 23rd. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Tesla in a research note on Wednesday, June 24th. Phillip Securities lowered their price target on Tesla from $220.00 to $215.00 and set a “sell” rating on the stock in a report on Wednesday, May 13th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a research note on Thursday, April 23rd. Twenty-one equities research analysts have rated the stock with a Buy rating, twenty-one have given a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat, Tesla has a consensus rating of “Hold” and a consensus price target of $406.87.

View Our Latest Stock Analysis on Tesla

Tesla Price Performance

Shares of NASDAQ:TSLA opened at $406.55 on Friday. Tesla, Inc. has a 52 week low of $297.82 and a 52 week high of $498.83. The company has a 50-day moving average price of $409.76 and a 200 day moving average price of $409.24. The company has a market cap of $1.53 trillion, a P/E ratio of 372.98, a PEG ratio of 14.50 and a beta of 1.80. The company has a quick ratio of 1.62, a current ratio of 2.04 and a debt-to-equity ratio of 0.09.

Tesla (NASDAQ:TSLAGet Free Report) last issued its earnings results on Thursday, April 23rd. The electric vehicle producer reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.02. The business had revenue of $22.39 billion during the quarter, compared to the consensus estimate of $22.96 billion. Tesla had a return on equity of 4.89% and a net margin of 3.95%.The company’s revenue for the quarter was up 15.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.27 EPS. Research analysts predict that Tesla, Inc. will post 1.29 earnings per share for the current year.

Insider Buying and Selling at Tesla

In related news, Director Kathleen Wilson-Thompson sold 26,409 shares of the firm’s stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $378.11, for a total value of $9,985,506.99. Following the completion of the transaction, the director directly owned 48,399 shares of the company’s stock, valued at $18,300,145.89. This trade represents a 35.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Vaibhav Taneja sold 3,000 shares of Tesla stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $450.00, for a total value of $1,350,000.00. Following the transaction, the chief financial officer directly owned 18,106 shares of the company’s stock, valued at approximately $8,147,700. This represents a 14.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 32,015 shares of company stock valued at $12,383,640 in the last quarter. 19.90% of the stock is currently owned by company insiders.

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Tesla Company Profile

(Free Report)

Tesla, Inc (NASDAQ: TSLA) is an American company that designs, manufactures and sells electric vehicles, energy generation and energy storage products. Founded in 2003 by Martin Eberhard and Marc Tarpenning, Tesla grew into a vertically integrated mobility and clean‑energy company with Elon Musk serving as its chief executive officer. The company’s stated mission is to accelerate the world’s transition to sustainable energy, reflected in its combined focus on electric drivetrains, battery technology, renewable energy products and software.

Tesla’s automotive business includes a lineup of battery‑electric vehicles and related services.

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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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