Concentrum Wealth Management Sells 145 Shares of Tesla, Inc. (NASDAQ:TSLA)

Concentrum Wealth Management lowered its stake in Tesla, Inc. (NASDAQ:TSLAFree Report) by 0.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 22,601 shares of the electric vehicle producer’s stock after selling 145 shares during the quarter. Tesla comprises about 0.4% of Concentrum Wealth Management’s portfolio, making the stock its 8th biggest holding. Concentrum Wealth Management’s holdings in Tesla were worth $5,616,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently bought and sold shares of TSLA. Holderness Investments Co. lifted its holdings in shares of Tesla by 1.6% in the third quarter. Holderness Investments Co. now owns 2,599 shares of the electric vehicle producer’s stock valued at $650,000 after buying an additional 42 shares during the period. SCS Capital Management LLC boosted its position in shares of Tesla by 0.3% during the 3rd quarter. SCS Capital Management LLC now owns 16,881 shares of the electric vehicle producer’s stock valued at $4,224,000 after purchasing an additional 45 shares in the last quarter. Daymark Wealth Partners LLC grew its stake in shares of Tesla by 0.4% in the 4th quarter. Daymark Wealth Partners LLC now owns 10,554 shares of the electric vehicle producer’s stock worth $2,622,000 after purchasing an additional 45 shares during the last quarter. Cravens & Co Advisors LLC raised its holdings in shares of Tesla by 1.2% in the 3rd quarter. Cravens & Co Advisors LLC now owns 4,095 shares of the electric vehicle producer’s stock worth $1,025,000 after purchasing an additional 48 shares in the last quarter. Finally, Patten & Patten Inc. TN lifted its stake in Tesla by 1.1% during the fourth quarter. Patten & Patten Inc. TN now owns 4,601 shares of the electric vehicle producer’s stock valued at $1,143,000 after purchasing an additional 48 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. UBS Group decreased their price target on shares of Tesla from $160.00 to $147.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 24th. Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a research report on Wednesday, April 24th. Mizuho dropped their price target on Tesla from $195.00 to $180.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 24th. Cantor Fitzgerald initiated coverage on shares of Tesla in a research note on Thursday, May 2nd. They set an “overweight” rating and a $230.00 price objective for the company. Finally, HSBC dropped their target price on shares of Tesla from $138.00 to $120.00 and set a “reduce” rating on the stock in a research report on Wednesday, April 24th. Eight analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, Tesla has an average rating of “Hold” and an average target price of $185.90.

View Our Latest Analysis on Tesla

Tesla Stock Down 0.4 %

Shares of Tesla stock opened at $178.08 on Monday. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $299.29. The stock has a market capitalization of $567.93 billion, a P/E ratio of 45.43, a PEG ratio of 4.37 and a beta of 2.41. 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 has a 50 day moving average price of $172.18 and a two-hundred day moving average price of $199.29.

Tesla (NASDAQ:TSLAGet Free Report) last posted its earnings results 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. The business had revenue of $21.30 billion for the quarter, compared to analyst estimates of $22.15 billion. Tesla had a net margin of 14.37% and a return on equity of 13.18%. Equities analysts expect that Tesla, Inc. will post 1.89 earnings per share for the current year.

Insider Transactions at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 687 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $177.11, for a total value of $121,674.57. Following the sale, the senior vice president now owns 63,171 shares of the company’s stock, valued at approximately $11,188,215.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Robyn M. Denholm sold 93,705 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were 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 $2,772,900. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Xiaotong Zhu sold 687 shares of Tesla stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $177.11, for a total value of $121,674.57. Following the sale, the senior vice president now directly owns 63,171 shares in the company, valued at $11,188,215.81. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 198,597 shares of company stock worth $35,733,686. Company insiders own 25.10% of the company’s stock.

Tesla Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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