PFG Private Wealth Management LLC Sells 138 Shares of Tesla, Inc. (NASDAQ:TSLA)

PFG Private Wealth Management LLC decreased its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 35.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 246 shares of the electric vehicle producer’s stock after selling 138 shares during the quarter. PFG Private Wealth Management LLC’s holdings in Tesla were worth $49,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Tesla by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 233,602,120 shares of the electric vehicle producer’s stock worth $41,064,917,000 after acquiring an additional 3,795,748 shares during the last quarter. Norges Bank acquired a new stake in Tesla during the 4th quarter worth approximately $7,844,757,000. Charles Schwab Investment Management Inc. raised its holdings in Tesla by 3.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 15,155,878 shares of the electric vehicle producer’s stock worth $3,765,933,000 after buying an additional 458,804 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in Tesla by 12.9% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,849,425 shares of the electric vehicle producer’s stock worth $1,731,430,000 after buying an additional 1,125,329 shares during the period. Finally, California State Teachers Retirement System raised its holdings in Tesla by 0.9% during the 1st quarter. California State Teachers Retirement System now owns 4,611,096 shares of the electric vehicle producer’s stock worth $810,585,000 after buying an additional 41,498 shares during the period. Institutional investors own 66.20% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on TSLA. Guggenheim restated a “sell” rating and set a $134.00 target price on shares of Tesla in a report on Tuesday, July 23rd. Piper Sandler raised their target price on shares of Tesla from $205.00 to $300.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Oppenheimer restated a “market perform” rating on shares of Tesla in a report on Tuesday, July 9th. China Renaissance upgraded shares of Tesla from a “hold” rating to a “buy” rating and set a $290.00 price objective on the stock in a report on Friday, July 5th. Finally, TD Cowen lifted their price objective on shares of Tesla from $160.00 to $180.00 and gave the company a “hold” rating in a report on Wednesday, July 3rd. Nine analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $204.21.

Insider Activity

In other news, SVP Xiaotong Zhu sold 650 shares of the business’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $174.21, for a total value of $113,236.50. Following the completion of the sale, the senior vice president now owns 65,155 shares of the company’s stock, valued at $11,350,652.55. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, SVP Xiaotong Zhu sold 650 shares of the business’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $174.21, for a total value of $113,236.50. Following the completion of the sale, the senior vice president now owns 65,155 shares of the company’s stock, valued at $11,350,652.55. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Robyn M. Denholm sold 66,364 shares of the business’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the completion of the sale, the director now directly owns 85,000 shares of the company’s stock, valued at approximately $18,696,600. The disclosure for this sale can be found here. 25.10% of the stock is currently owned by company insiders.

Tesla Stock Performance

TSLA stock traded down $2.51 during midday trading on Monday, reaching $197.49. 63,825,434 shares of the company were exchanged, compared to its average volume of 99,786,875. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.91 and a quick ratio of 1.40. The business has a 50-day moving average price of $212.04 and a two-hundred day moving average price of $190.28. Tesla, Inc. has a one year low of $138.80 and a one year high of $278.98. The firm has a market capitalization of $629.83 billion, a price-to-earnings ratio of 50.26, a price-to-earnings-growth ratio of 5.18 and a beta of 2.31.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Tuesday, July 23rd. The electric vehicle producer reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). Tesla had a return on equity of 10.41% and a net margin of 13.00%. The company had revenue of $25.50 billion for the quarter, compared to the consensus estimate of $24.38 billion. During the same period last year, the firm earned $0.78 earnings per share. The company’s revenue for the quarter was up 2.3% compared to the same quarter last year. Equities research analysts forecast that Tesla, Inc. will post 1.79 EPS for the current year.

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.