Inspirion Wealth Advisors LLC Reduces Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Inspirion Wealth Advisors LLC decreased its holdings in Tesla, Inc. (NASDAQ:TSLA) by 4.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,274 shares of the electric vehicle producer’s stock after selling 107 shares during the period. Inspirion Wealth Advisors LLC’s holdings in Tesla were worth $400,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in TSLA. Federated Hermes Inc. boosted its stake in Tesla by 13.3% during the third quarter. Federated Hermes Inc. now owns 82,508 shares of the electric vehicle producer’s stock worth $20,645,000 after buying an additional 9,676 shares during the period. Kayne Anderson Rudnick Investment Management LLC grew its holdings in Tesla by 10.0% during the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,073 shares of the electric vehicle producer’s stock valued at $1,019,000 after purchasing an additional 370 shares during the last quarter. Cadence Bank raised its position in Tesla by 10.8% in the 3rd quarter. Cadence Bank now owns 2,013 shares of the electric vehicle producer’s stock worth $504,000 after purchasing an additional 196 shares during the period. O Shaughnessy Asset Management LLC lifted its stake in Tesla by 38.6% in the third quarter. O Shaughnessy Asset Management LLC now owns 105,279 shares of the electric vehicle producer’s stock worth $26,343,000 after purchasing an additional 29,314 shares during the last quarter. Finally, Morse Asset Management Inc boosted its position in shares of Tesla by 4.2% during the third quarter. Morse Asset Management Inc now owns 11,976 shares of the electric vehicle producer’s stock valued at $2,997,000 after buying an additional 481 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Stock Performance

Shares of Tesla stock traded up $4.62 during midday trading on Wednesday, hitting $191.97. The company had a trading volume of 32,489,035 shares, compared to its average volume of 94,996,711. The stock has a market cap of $612.23 billion, a price-to-earnings ratio of 49.27, a PEG ratio of 4.65 and a beta of 2.32. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $299.29. The company has a quick ratio of 1.17, a current ratio of 1.72 and a debt-to-equity ratio of 0.04. The company has a fifty day simple moving average of $175.02 and a 200 day simple moving average of $192.25.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Tuesday, April 23rd. The electric vehicle producer reported $0.35 EPS for the quarter, hitting the consensus estimate of $0.35. The business had revenue of $21.30 billion during the quarter, compared to the consensus estimate of $22.15 billion. Tesla had a net margin of 14.37% and a return on equity of 13.18%. As a group, analysts predict that Tesla, Inc. will post 1.87 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

TSLA has been the subject of a number of research analyst reports. Stifel Nicolaus began coverage on Tesla in a research note on Tuesday. They set a “buy” rating and a $265.00 price target for the company. Wedbush reissued an “outperform” rating and set a $275.00 target price on shares of Tesla in a research note on Friday, June 14th. Evercore ISI cut their price target on shares of Tesla from $155.00 to $145.00 and set an “in-line” rating on the stock in a report on Monday, April 29th. Guggenheim reiterated a “sell” rating and set a $126.00 price objective on shares of Tesla in a report on Tuesday. Finally, Bank of America raised shares of Tesla from a “neutral” rating to a “buy” rating and set a $220.00 target price on the stock in a research report on Wednesday, April 24th. Seven research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $187.30.

Insider Transactions at Tesla

In related news, Director Robyn M. Denholm sold 93,705 shares of the stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $184.86, for a total value of $17,322,306.30. Following the transaction, 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 SEC, which is available through this link. In related news, SVP Andrew D. Baglino sold 10,500 shares of Tesla stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $176.20, for a total transaction of $1,850,100.00. Following the completion of the transaction, the senior vice president now directly owns 31,230 shares in the company, valued at $5,502,726. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Robyn M. Denholm sold 93,705 shares of the company’s stock in a transaction dated 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 completion of the transaction, the director now owns 15,000 shares of the company’s stock, valued at approximately $2,772,900. The disclosure for this sale can be found here. Insiders sold a total of 104,855 shares of company stock worth $19,285,643 over the last three months. 25.10% of the stock is currently owned by insiders.

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.