Tesla, Inc. (NASDAQ:TSLA) Stock Position Decreased by Abundance Wealth Counselors

Abundance Wealth Counselors cut its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 5.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,426 shares of the electric vehicle producer’s stock after selling 293 shares during the quarter. Abundance Wealth Counselors’ holdings in Tesla were worth $954,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Apexium Financial LP boosted its position in shares of Tesla by 736.8% in the fourth quarter. Apexium Financial LP now owns 24,954 shares of the electric vehicle producer’s stock worth $6,201,000 after buying an additional 21,972 shares during the period. Mount Vernon Associates Inc. MD boosted its position in shares of Tesla by 5.3% in the fourth quarter. Mount Vernon Associates Inc. MD now owns 6,940 shares of the electric vehicle producer’s stock worth $1,724,000 after buying an additional 350 shares during the period. Forum Financial Management LP boosted its position in Tesla by 19.7% during the fourth 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. J.W. Cole Advisors Inc. boosted its position in Tesla by 16.6% during the fourth 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. Finally, Catalyst Financial Partners LLC boosted its position in Tesla by 9.4% during the fourth quarter. Catalyst Financial Partners LLC now owns 6,978 shares of the electric vehicle producer’s stock valued at $1,734,000 after purchasing an additional 598 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Wedbush lifted their price objective on Tesla from $275.00 to $300.00 and gave the company an “outperform” rating in a research report on Wednesday. Royal Bank of Canada reduced their price objective on Tesla from $293.00 to $227.00 and set an “outperform” rating for the company in a research report on Thursday, June 20th. Truist Financial reissued a “hold” rating and set a $162.00 price objective on shares of Tesla in a research report on Wednesday. Canaccord Genuity Group lifted their price objective on Tesla from $222.00 to $254.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, New Street Research restated a “buy” rating and set a $235.00 target price on shares of Tesla in a report on Tuesday, June 25th. Seven analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $189.47.

Tesla Trading Up 6.5 %

Shares of TSLA opened at $246.39 on Thursday. 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 stock’s 50-day moving average price is $180.89 and its 200 day moving average price is $190.93. The firm has a market capitalization of $785.79 billion, a price-to-earnings ratio of 62.85, a P/E/G ratio of 5.74 and a beta of 2.31. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $299.29.

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

Insider Buying and Selling at Tesla

In other Tesla news, Director Robyn M. Denholm sold 93,705 shares of Tesla stock in a transaction that occurred 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 directly owns 15,000 shares of the company’s stock, valued at $2,772,900. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, SVP Xiaotong Zhu sold 650 shares of the business’s stock in a transaction that occurred 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 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 document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robyn M. Denholm sold 93,705 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $184.86, for a total value of $17,322,306.30. Following the completion of the transaction, the director now directly owns 15,000 shares in the company, valued at $2,772,900. The disclosure for this sale can be found here. Company insiders own 20.90% of the company’s stock.

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.