SMART Wealth LLC Has $293,000 Stake in Tesla, Inc. (NASDAQ:TSLA)

SMART Wealth LLC decreased its stake in Tesla, Inc. (NASDAQ:TSLA) by 81.3% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 1,132 shares of the electric vehicle producer’s stock after selling 4,910 shares during the period. SMART Wealth LLC’s holdings in Tesla were worth $293,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Harel Insurance Investments & Financial Services Ltd. boosted its stake in Tesla by 21.0% in the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 12,903 shares of the electric vehicle producer’s stock worth $3,344,000 after purchasing an additional 2,241 shares in the last quarter. IFM Investors Pty Ltd boosted its stake in Tesla by 8.5% in the first quarter. IFM Investors Pty Ltd now owns 586,460 shares of the electric vehicle producer’s stock worth $153,436,000 after purchasing an additional 46,087 shares in the last quarter. GF Fund Management CO. LTD. boosted its stake in Tesla by 1.6% in the first quarter. GF Fund Management CO. LTD. now owns 429,750 shares of the electric vehicle producer’s stock worth $111,374,000 after purchasing an additional 6,790 shares in the last quarter. Avantax Planning Partners Inc. boosted its stake in Tesla by 1.1% in the first quarter. Avantax Planning Partners Inc. now owns 14,614 shares of the electric vehicle producer’s stock worth $3,787,000 after purchasing an additional 161 shares in the last quarter. Finally, Calamos Wealth Management LLC boosted its stake in Tesla by 0.3% in the first quarter. Calamos Wealth Management LLC now owns 26,565 shares of the electric vehicle producer’s stock worth $6,885,000 after purchasing an additional 67 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Stock Down 0.7%

Shares of Tesla stock opened at $313.56 on Friday. Tesla, Inc. has a 1 year low of $182.00 and a 1 year high of $488.54. The business has a 50-day moving average of $320.93 and a two-hundred day moving average of $325.92. The company has a market capitalization of $1.01 trillion, a P/E ratio of 172.29, a price-to-earnings-growth ratio of 9.17 and a beta of 2.39. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.00 and a quick ratio of 1.54.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.26). Tesla had a return on equity of 9.02% and a net margin of 6.66%. The business had revenue of $19.34 billion during the quarter, compared to the consensus estimate of $22.93 billion. During the same quarter last year, the company earned $0.45 earnings per share. As a group, equities analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on TSLA. Truist Financial set a $280.00 price target on Tesla in a research note on Tuesday, April 22nd. Robert W. Baird reaffirmed a “neutral” rating and set a $320.00 price target on shares of Tesla in a research note on Monday, June 9th. Royal Bank Of Canada cut their price target on Tesla from $314.00 to $307.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 23rd. Guggenheim reaffirmed a “sell” rating and set a $175.00 price target on shares of Tesla in a research note on Monday, June 23rd. Finally, Baird R W lowered Tesla from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 9th. Ten investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $301.24.

Insider Buying and Selling at Tesla

In related news, Director Ira Matthew Ehrenpreis sold 477,572 shares of the stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $357.30, for a total transaction of $170,636,475.60. Following the completion of the transaction, the director directly owned 855,394 shares in the company, valued at approximately $305,632,276.20. This trade represents a 35.83% 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 Robyn M. Denholm sold 112,395 shares of the stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $274.12, for a total value of $30,809,717.40. Following the transaction, the director owned 85,000 shares of the company’s stock, valued at approximately $23,300,200. The trade was a 56.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 833,509 shares of company stock valued at $278,648,925 in the last 90 days. 20.70% of the stock is currently owned by corporate insiders.

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.