Cedar Brook Financial Partners LLC lessened its holdings in Tesla, Inc. (NASDAQ:TSLA – Free Report) by 2.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,324 shares of the electric vehicle producer’s stock after selling 175 shares during the quarter. Cedar Brook Financial Partners LLC’s holdings in Tesla were worth $2,179,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also modified their holdings of the company. Lakewood Asset Management LLC acquired a new position in Tesla during the fourth quarter worth about $25,000. Alpha Paradigm Partners LLC acquired a new stake in shares of Tesla in the 3rd quarter worth approximately $27,000. GW&K Investment Management LLC acquired a new position in Tesla during the first quarter worth $30,000. MayTech Global Investments LLC purchased a new stake in Tesla during the fourth quarter worth $30,000. Finally, St. Johns Investment Management Company LLC grew its holdings in Tesla by 451.9% in the first quarter. St. Johns Investment Management Company LLC now owns 149 shares of the electric vehicle producer’s stock valued at $31,000 after purchasing an additional 122 shares during the last quarter. 41.87% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several research analysts have recently issued reports on TSLA shares. Jefferies Financial Group lifted their price target on Tesla from $185.00 to $265.00 and gave the stock a “hold” rating in a research note on Monday, July 10th. Truist Financial lifted their target price on shares of Tesla from $240.00 to $254.00 and gave the stock a “hold” rating in a research report on Thursday, July 20th. Wells Fargo & Company increased their price target on shares of Tesla from $170.00 to $265.00 and gave the company an “equal weight” rating in a research report on Monday, July 17th. Sanford C. Bernstein reaffirmed an “underperform” rating and issued a $150.00 target price on shares of Tesla in a research note on Thursday, July 20th. Finally, Robert W. Baird raised their price target on Tesla from $252.00 to $300.00 and gave the stock an “outperform” rating in a research report on Monday, July 17th. Six investment analysts have rated the stock with a sell rating, eighteen have given a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $239.43.
Insider Buying and Selling
In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of the firm’s stock in a transaction dated Tuesday, June 27th. The stock was sold at an average price of $243.13, for a total value of $2,552,865.00. Following the transaction, the senior vice president now directly owns 66,834 shares of the company’s stock, valued at $16,249,350.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, SVP Xiaotong Zhu sold 2,500 shares of Tesla stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $276.35, for a total transaction of $690,875.00. Following the sale, the senior vice president now owns 62,938 shares of the company’s stock, valued at approximately $17,392,916.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Andrew D. Baglino sold 10,500 shares of the company’s stock in a transaction dated Tuesday, June 27th. The shares were sold at an average price of $243.13, for a total transaction of $2,552,865.00. Following the completion of the transaction, the senior vice president now directly owns 66,834 shares of the company’s stock, valued at $16,249,350.42. The disclosure for this sale can be found here. In the last three months, insiders sold 55,815 shares of company stock valued at $14,384,135. Company insiders own 25.10% of the company’s stock.
Tesla Stock Performance
NASDAQ TSLA opened at $276.04 on Friday. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.59 and a quick ratio of 1.07. Tesla, Inc. has a 1-year low of $101.81 and a 1-year high of $313.80. The firm has a market capitalization of $876.15 billion, a P/E ratio of 78.20, a P/E/G ratio of 4.23 and a beta of 2.09. The business’s 50-day simple moving average is $255.83 and its 200-day simple moving average is $220.11.
Tesla (NASDAQ:TSLA – Get Free Report) last announced its quarterly earnings results on Wednesday, July 19th. The electric vehicle producer reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.22. Tesla had a net margin of 12.97% and a return on equity of 26.10%. The firm had revenue of $24.93 billion for the quarter, compared to analysts’ expectations of $24.22 billion. During the same period in the previous year, the company posted $0.65 earnings per share. Tesla’s revenue was up 47.2% compared to the same quarter last year. Equities analysts predict that Tesla, Inc. will post 2.94 EPS for the current year.
Tesla, Inc designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. It 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, retail merchandise, and vehicle insurance services.
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