Prosperity Wealth Management Inc. Has $264,000 Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Prosperity Wealth Management Inc. lowered its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 54.7% in the 4th quarter, HoldingsChannel reports. The firm owned 1,062 shares of the electric vehicle producer’s stock after selling 1,280 shares during the period. Prosperity Wealth Management Inc.’s holdings in Tesla were worth $264,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Axiom Financial Strategies LLC increased its position in shares of Tesla by 9.8% in the first quarter. Axiom Financial Strategies LLC now owns 906 shares of the electric vehicle producer’s stock valued at $777,000 after acquiring an additional 81 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Tesla by 19.7% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,001,923 shares of the electric vehicle producer’s stock valued at $1,079,672,000 after buying an additional 164,789 shares during the period. MAS Advisors LLC raised its holdings in shares of Tesla by 25.7% during the first quarter. MAS Advisors LLC now owns 396 shares of the electric vehicle producer’s stock valued at $433,000 after acquiring an additional 81 shares in the last quarter. Ergoteles LLC lifted its stake in Tesla by 33.4% in the first quarter. Ergoteles LLC now owns 3,567 shares of the electric vehicle producer’s stock worth $3,844,000 after acquiring an additional 893 shares during the period. Finally, Mackenzie Financial Corp boosted its holdings in Tesla by 6.8% in the first quarter. Mackenzie Financial Corp now owns 72,167 shares of the electric vehicle producer’s stock valued at $77,767,000 after acquiring an additional 4,593 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Robyn M. Denholm sold 93,706 shares of the company’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the completion of the transaction, the director now owns 15,000 shares in the company, valued at $2,920,950. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Director Robyn M. Denholm sold 93,706 shares of the business’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total value of $18,247,369.38. Following the sale, the director now directly owns 15,000 shares in the company, valued at $2,920,950. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Andrew D. Baglino sold 10,500 shares of the stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $204.17, for a total value of $2,143,785.00. Following the transaction, the senior vice president now directly owns 31,230 shares of the company’s stock, valued at $6,376,229.10. The disclosure for this sale can be found here. Insiders have sold a total of 209,098 shares of company stock worth $38,802,534 over the last quarter. Insiders own 20.90% of the company’s stock.

Tesla Price Performance

TSLA stock traded down $1.40 during trading on Wednesday, reaching $155.71. The company’s stock had a trading volume of 44,304,383 shares, compared to its average volume of 101,372,797. The company has a quick ratio of 1.25, a current ratio of 1.73 and a debt-to-equity ratio of 0.05. The company’s fifty day moving average is $180.88 and its 200-day moving average is $213.04. The company has a market capitalization of $495.90 billion, a P/E ratio of 35.90, a price-to-earnings-growth ratio of 4.25 and a beta of 2.39. Tesla, Inc. has a 1 year low of $152.37 and a 1 year high of $299.29.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.03). Tesla had a return on equity of 16.62% and a net margin of 15.50%. The business had revenue of $25.17 billion for the quarter, compared to analysts’ expectations of $25.64 billion. During the same quarter in the prior year, the business posted $1.07 EPS. The business’s revenue for the quarter was up 3.5% compared to the same quarter last year. On average, research analysts expect that Tesla, Inc. will post 1.98 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on TSLA. Jefferies Financial Group decreased their price objective on Tesla from $185.00 to $165.00 and set a “hold” rating for the company in a report on Wednesday, April 10th. JPMorgan Chase & Co. lowered their target price on shares of Tesla from $130.00 to $115.00 and set an “underweight” rating for the company in a report on Wednesday, April 3rd. Wells Fargo & Company cut their price target on Tesla from $125.00 to $120.00 and set an “underweight” rating on the stock in a research note on Friday, April 12th. Daiwa Capital Markets downgraded Tesla from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $245.00 to $195.00 in a report on Tuesday, February 6th. Finally, Mizuho reaffirmed a “neutral” rating and issued a $195.00 price target (down previously from $270.00) on shares of Tesla in a research report on Monday, March 25th. Ten equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $198.81.

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.