Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Hemington Wealth Management

Hemington Wealth Management cut its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 4.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,114 shares of the electric vehicle producer’s stock after selling 140 shares during the quarter. Hemington Wealth Management’s holdings in Tesla were worth $548,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of TSLA. OLD National Bancorp IN boosted its position in Tesla by 7.5% during the third quarter. OLD National Bancorp IN now owns 11,829 shares of the electric vehicle producer’s stock valued at $2,960,000 after purchasing an additional 829 shares during the last quarter. Silver Oak Securities Incorporated boosted its position in Tesla by 51.3% during the third quarter. Silver Oak Securities Incorporated now owns 6,152 shares of the electric vehicle producer’s stock valued at $1,539,000 after purchasing an additional 2,087 shares during the last quarter. Tompkins Financial Corp boosted its position in Tesla by 10.1% during the third quarter. Tompkins Financial Corp now owns 1,627 shares of the electric vehicle producer’s stock valued at $407,000 after purchasing an additional 149 shares during the last quarter. Hohimer Wealth Management LLC boosted its position in Tesla by 6.1% during the third quarter. Hohimer Wealth Management LLC now owns 8,794 shares of the electric vehicle producer’s stock valued at $2,200,000 after purchasing an additional 506 shares during the last quarter. Finally, Brown Shipley& Co Ltd boosted its position in Tesla by 4.2% during the third quarter. Brown Shipley& Co Ltd now owns 27,333 shares of the electric vehicle producer’s stock valued at $6,839,000 after purchasing an additional 1,103 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insider Buying and Selling

In other Tesla news, SVP Xiaotong Zhu sold 650 shares of Tesla stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $174.21, for a total value of $113,236.50. Following the completion of the transaction, the senior vice president now directly owns 65,155 shares of the company’s stock, valued at approximately $11,350,652.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Robyn M. Denholm sold 93,705 shares of the business’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $184.86, for a total transaction of $17,322,306.30. Following the sale, the director now owns 15,000 shares in the company, valued at approximately $2,772,900. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Xiaotong Zhu sold 650 shares of the business’s stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $174.21, for a total value of $113,236.50. Following the sale, the senior vice president now owns 65,155 shares in the company, valued at approximately $11,350,652.55. The disclosure for this sale can be found here. 20.90% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Oppenheimer reiterated a “market perform” rating on shares of Tesla in a research note on Tuesday. Truist Financial reissued a “hold” rating and set a $162.00 target price on shares of Tesla in a research report on Wednesday, July 3rd. Stifel Nicolaus began coverage on Tesla in a research report on Tuesday, June 25th. They set a “buy” rating and a $265.00 target price on the stock. Sanford C. Bernstein reissued an “underperform” rating and set a $120.00 target price on shares of Tesla in a research report on Monday, June 10th. Finally, Roth Mkm reaffirmed a “neutral” rating and set a $85.00 price objective on shares of Tesla in a report on Wednesday, April 24th. Seven analysts have rated the stock with a sell rating, sixteen have issued a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $195.39.

Tesla Stock Down 8.4 %

TSLA stock traded down $22.23 during mid-day trading on Thursday, reaching $241.03. The company had a trading volume of 220,523,206 shares, compared to its average volume of 99,610,352. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $299.29. The company has a market capitalization of $768.69 billion, a price-to-earnings ratio of 61.49, a PEG ratio of 6.27 and a beta of 2.31. The stock has a 50 day simple moving average of $190.19 and a two-hundred day simple moving average of $191.41. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.72 and a quick ratio of 1.17.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Tuesday, April 23rd. The electric vehicle producer reported $0.35 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.35. Tesla had a return on equity of 13.18% and a net margin of 14.37%. The company had revenue of $21.30 billion during the quarter, compared to analysts’ expectations of $22.15 billion. As a group, equities analysts predict that Tesla, Inc. will post 1.86 earnings per share for the current fiscal year.

Tesla 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.