Zhang Financial LLC Sells 940 Shares of Tesla, Inc. (NASDAQ:TSLA)

Zhang Financial LLC trimmed its position in Tesla, Inc. (NASDAQ:TSLA) by 14.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,773 shares of the electric vehicle producer’s stock after selling 940 shares during the period. Zhang Financial LLC’s holdings in Tesla were worth $1,015,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Apexium Financial LP boosted its stake in Tesla by 736.8% during the 4th quarter. Apexium Financial LP now owns 24,954 shares of the electric vehicle producer’s stock valued at $6,201,000 after purchasing an additional 21,972 shares during the last quarter. Mount Vernon Associates Inc. MD boosted its stake in Tesla by 5.3% during the 4th quarter. Mount Vernon Associates Inc. MD now owns 6,940 shares of the electric vehicle producer’s stock valued at $1,724,000 after purchasing an additional 350 shares during the last quarter. Forum Financial Management LP boosted its stake in Tesla by 19.7% during the 4th quarter. Forum Financial Management LP now owns 21,772 shares of the electric vehicle producer’s stock valued at $5,410,000 after purchasing an additional 3,582 shares during the last quarter. Corient Private Wealth LLC boosted its stake in Tesla by 3.7% during the 3rd quarter. Corient Private Wealth LLC now owns 728,615 shares of the electric vehicle producer’s stock valued at $182,352,000 after purchasing an additional 25,943 shares during the last quarter. Finally, J.W. Cole Advisors Inc. boosted its stake in Tesla by 16.6% during the 4th quarter. J.W. Cole Advisors Inc. now owns 46,414 shares of the electric vehicle producer’s stock valued at $11,533,000 after purchasing an additional 6,615 shares during the last quarter. 66.20% of the stock is owned by institutional investors.

Tesla Price Performance

Shares of Tesla stock traded down $6.49 during trading on Wednesday, hitting $180.11. The stock had a trading volume of 88,122,390 shares, compared to its average volume of 101,175,844. The firm has a market cap of $574.41 billion, a price-to-earnings ratio of 45.95, a P/E/G ratio of 4.83 and a beta of 2.41. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $299.29. The business’s 50-day moving average is $171.15 and its 200 day moving average is $201.74. The company has a current ratio of 1.72, a quick ratio of 1.17 and a debt-to-equity ratio of 0.04.

Tesla (NASDAQ:TSLA) last announced its earnings results on Tuesday, April 23rd. The electric vehicle producer reported $0.35 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.35. Tesla had a net margin of 14.37% and a return on equity of 13.18%. The company had revenue of $21.30 billion during the quarter, compared to analyst estimates of $22.15 billion. As a group, sell-side analysts anticipate that Tesla, Inc. will post 1.89 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on TSLA shares. Daiwa Capital Markets downgraded Tesla from an “outperform” rating to a “neutral” rating and cut their target price for the stock from $245.00 to $195.00 in a research note on Tuesday, February 6th. Redburn Atlantic started coverage on Tesla in a research note on Wednesday, January 24th. They issued a “sell” rating and a $170.00 target price on the stock. UBS Group cut their target price on Tesla from $160.00 to $147.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 24th. JPMorgan Chase & Co. cut their target price on Tesla from $130.00 to $115.00 and set an “underweight” rating on the stock in a research note on Wednesday, April 3rd. Finally, Truist Financial cut their target price on Tesla from $176.00 to $162.00 and set a “hold” rating on the stock in a research note on Wednesday, April 24th. Eight research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, Tesla currently has a consensus rating of “Hold” and an average target price of $185.90.

Insider Buying and Selling

In related news, Director Robyn M. Denholm sold 93,705 shares of the company’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $175.44, for a total value of $16,439,605.20. Following the completion of the transaction, the director now directly owns 15,000 shares in the company, valued at $2,631,600. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Tesla news, Director Robyn M. Denholm sold 93,705 shares of the company’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $175.44, for a total transaction of $16,439,605.20. Following the completion of the sale, the director now directly owns 15,000 shares in the company, valued at $2,631,600. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Andrew D. Baglino sold 10,500 shares of the company’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $204.17, for a total transaction of $2,143,785.00. Following the sale, the senior vice president now owns 31,230 shares of the company’s stock, valued at $6,376,229.10. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 209,097 shares of company stock worth $37,877,471. Corporate insiders own 20.90% of the company’s stock.

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.