RIA Advisory Group LLC Cuts Stock Position in Tesla, Inc. $TSLA

RIA Advisory Group LLC lessened its stake in Tesla, Inc. (NASDAQ:TSLAFree Report) by 38.0% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 8,113 shares of the electric vehicle producer’s stock after selling 4,965 shares during the quarter. Tesla makes up about 0.9% of RIA Advisory Group LLC’s portfolio, making the stock its 22nd biggest holding. RIA Advisory Group LLC’s holdings in Tesla were worth $3,649,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Narwhal Capital Management increased its stake in Tesla by 32.8% in the third quarter. Narwhal Capital Management now owns 9,516 shares of the electric vehicle producer’s stock valued at $4,232,000 after purchasing an additional 2,350 shares during the period. Gamco Investors INC. ET AL increased its stake in Tesla by 29.6% in the third quarter. Gamco Investors INC. ET AL now owns 32,576 shares of the electric vehicle producer’s stock valued at $14,487,000 after purchasing an additional 7,446 shares during the period. Calamos Wealth Management LLC increased its stake in Tesla by 5.9% in the fourth quarter. Calamos Wealth Management LLC now owns 41,907 shares of the electric vehicle producer’s stock valued at $18,846,000 after purchasing an additional 2,341 shares during the period. China Universal Asset Management Co. Ltd. increased its stake in Tesla by 8.8% in the third quarter. China Universal Asset Management Co. Ltd. now owns 48,504 shares of the electric vehicle producer’s stock valued at $21,571,000 after purchasing an additional 3,935 shares during the period. Finally, Ashton Thomas Private Wealth LLC increased its stake in Tesla by 26.0% in the third quarter. Ashton Thomas Private Wealth LLC now owns 18,032 shares of the electric vehicle producer’s stock valued at $8,019,000 after purchasing an additional 3,724 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Transactions at Tesla

In related news, CFO Vaibhav Taneja sold 2,264 shares of the business’s stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $397.03, for a total transaction of $898,875.92. Following the sale, the chief financial officer owned 18,106 shares of the company’s stock, valued at approximately $7,188,625.18. The trade was a 11.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Kathleen Wilson-Thompson sold 25,809 shares of the business’s stock in a transaction dated Monday, March 30th. The stock was sold at an average price of $359.33, for a total transaction of $9,273,947.97. Following the sale, the director directly owned 33,860 shares in the company, valued at approximately $12,166,913.80. This represents a 43.25% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 53,804 shares of company stock worth $20,865,598. 19.90% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

TSLA has been the topic of a number of recent research reports. JPMorgan Chase & Co. restated a “sell” rating on shares of Tesla in a research note on Wednesday, April 22nd. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Tesla in a research note on Monday, April 27th. Cantor Fitzgerald restated an “overweight” rating and issued a $510.00 price objective on shares of Tesla in a research note on Wednesday, April 22nd. Barclays reaffirmed a “neutral” rating on shares of Tesla in a report on Thursday, April 23rd. Finally, China Renaissance lowered their target price on shares of Tesla from $382.00 to $372.00 and set a “hold” rating on the stock in a report on Monday, April 27th. Nineteen investment analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and five have given a Sell rating to the company. According to MarketBeat.com, Tesla currently has a consensus rating of “Hold” and an average target price of $398.42.

Read Our Latest Research Report on TSLA

Tesla Stock Up 2.4%

Shares of NASDAQ:TSLA opened at $390.82 on Friday. The company has a market cap of $1.47 trillion, a price-to-earnings ratio of 358.55, a PEG ratio of 14.87 and a beta of 1.79. The firm’s 50-day simple moving average is $383.09 and its 200-day simple moving average is $419.17. 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, Inc. has a fifty-two week low of $271.00 and a fifty-two week high of $498.83.

Tesla (NASDAQ:TSLAGet Free Report) last issued its earnings results on Thursday, April 23rd. The electric vehicle producer reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.02. The business had revenue of $22.39 billion for the quarter, compared to the consensus estimate of $22.96 billion. Tesla had a net margin of 3.95% and a return on equity of 4.89%. The business’s quarterly revenue was up 15.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.27 earnings per share. As a group, equities research analysts predict that Tesla, Inc. will post 1.25 earnings per share for the current year.

Tesla News Roundup

Here are the key news stories impacting Tesla this week:

About Tesla

(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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