Avantax Planning Partners Inc. Has $3.79 Million Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Avantax Planning Partners Inc. increased its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 1.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,614 shares of the electric vehicle producer’s stock after acquiring an additional 161 shares during the quarter. Avantax Planning Partners Inc.’s holdings in Tesla were worth $3,787,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TSLA. Cherry Tree Wealth Management LLC grew its holdings in shares of Tesla by 86.3% during the first quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer’s stock valued at $25,000 after buying an additional 44 shares in the last quarter. First PREMIER Bank increased its holdings in shares of Tesla by 79.2% in the 1st quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer’s stock valued at $25,000 after purchasing an additional 42 shares during the period. Newton One Investments LLC lifted its position in shares of Tesla by 250.0% in the first quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer’s stock worth $27,000 after purchasing an additional 75 shares in the last quarter. True Wealth Design LLC boosted its holdings in shares of Tesla by 79.5% during the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer’s stock worth $28,000 after purchasing an additional 31 shares during the period. Finally, Horrell Capital Management Inc. grew its position in Tesla by 75.6% during the fourth quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock valued at $32,000 after purchasing an additional 34 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insiders Place Their Bets

In related news, Director Robyn M. Denholm sold 112,395 shares of the firm’s stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $274.12, for a total value of $30,809,717.40. Following the transaction, the director owned 85,000 shares in the company, valued at $23,300,200. This trade represents a 56.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Vaibhav Taneja sold 2,564 shares of Tesla stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $285.71, for a total value of $732,560.44. Following the completion of the sale, the chief financial officer owned 5,924 shares of the company’s stock, valued at approximately $1,692,546.04. The trade was a 30.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 833,509 shares of company stock valued at $278,648,925 over the last quarter. Company insiders own 20.70% of the company’s stock.

Tesla Price Performance

Shares of Tesla stock opened at $313.56 on Friday. The firm’s 50-day moving average price is $320.36 and its two-hundred day moving average price is $327.07. Tesla, Inc. has a 1-year low of $182.00 and a 1-year high of $488.54. The stock has a market capitalization of $1.01 trillion, a price-to-earnings ratio of 172.29, a P/E/G ratio of 9.17 and a beta of 2.39. The company has a current ratio of 2.00, a quick ratio of 1.54 and a debt-to-equity ratio of 0.07.

Tesla (NASDAQ:TSLA) last announced its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.26). The business had revenue of $19.34 billion during the quarter, compared to analyst estimates of $22.93 billion. Tesla had a net margin of 6.66% and a return on equity of 9.02%. During the same quarter last year, the business posted $0.45 earnings per share. On average, equities analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on TSLA shares. Wells Fargo & Company lowered their price target on shares of Tesla from $135.00 to $130.00 and set an “underweight” rating on the stock in a report on Friday, March 14th. Piper Sandler restated an “overweight” rating and issued a $400.00 target price on shares of Tesla in a research note on Tuesday, June 10th. Roth Mkm cut their price target on Tesla from $450.00 to $395.00 and set a “buy” rating for the company in a research note on Wednesday, April 23rd. Canaccord Genuity Group reissued a “buy” rating and issued a $303.00 price target on shares of Tesla in a research note on Monday. Finally, BNP Paribas set a $137.00 price objective on shares of Tesla and gave the company an “underperform” rating in a research report on Wednesday, April 16th. Ten investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Tesla currently has a consensus rating of “Hold” and an average price target of $301.24.

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.