Legacy Financial Advisors Inc. Sells 1,719 Shares of Tesla, Inc. $TSLA

Legacy Financial Advisors Inc. trimmed its holdings in Tesla, Inc. (NASDAQ:TSLA) by 9.8% in the first quarter, HoldingsChannel reports. The fund owned 15,779 shares of the electric vehicle producer’s stock after selling 1,719 shares during the period. Tesla makes up 0.7% of Legacy Financial Advisors Inc.’s investment portfolio, making the stock its 23rd biggest position. Legacy Financial Advisors Inc.’s holdings in Tesla were worth $4,089,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. True Wealth Design LLC raised its holdings in Tesla by 79.5% during the 4th quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer’s stock valued at $28,000 after buying an additional 31 shares during the last quarter. Navigoe LLC bought a new stake in Tesla during the 4th quarter valued at $37,000. Cherry Tree Wealth Management LLC raised its holdings in Tesla by 86.3% during the 1st 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 during the last quarter. First PREMIER Bank raised its holdings in Tesla by 79.2% during the 1st quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer’s stock valued at $25,000 after buying an additional 42 shares during the last quarter. Finally, Marshall & Sterling Wealth Advisors Inc. bought a new stake in Tesla during the 4th quarter valued at $39,000. 66.20% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. UBS Group set a $290.00 price target on shares of Tesla in a report on Monday, June 30th. Argus reissued a “hold” rating on shares of Tesla in a research report on Monday, June 9th. Canaccord Genuity Group boosted their price objective on shares of Tesla from $303.00 to $333.00 and gave the company a “buy” rating in a research report on Thursday, July 24th. Roth Mkm reduced their price objective on shares of Tesla from $450.00 to $395.00 and set a “buy” rating on the stock in a research report on Wednesday, April 23rd. Finally, China Renaissance reissued a “hold” rating and set a $349.00 price objective on shares of Tesla in a research report on Friday, July 25th. Ten analysts have rated the stock with a sell rating, fifteen have given a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $303.31.

Insider Buying and Selling at Tesla

In related news, Director Ira Matthew Ehrenpreis sold 477,572 shares of the stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $357.30, for a total value of $170,636,475.60. Following the completion of the sale, the director directly owned 855,394 shares of the company’s stock, valued at approximately $305,632,276.20. This represents a 35.83% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Xiaotong Zhu sold 15,000 shares of the stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $323.81, for a total transaction of $4,857,150.00. Following the completion of the sale, the senior vice president directly owned 67,600 shares of the company’s stock, valued at $21,889,556. This represents a 18.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 599,724 shares of company stock worth $213,126,501 over the last quarter. Company insiders own 20.70% of the company’s stock.

Tesla Price Performance

Shares of NASDAQ:TSLA opened at $335.16 on Tuesday. The firm’s 50 day moving average price is $320.95 and its 200-day moving average price is $304.09. Tesla, Inc. has a twelve month low of $202.59 and a twelve month high of $488.54. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $1.08 trillion, a PE ratio of 193.73, a price-to-earnings-growth ratio of 11.49 and a beta of 2.33.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.03). Tesla had a return on equity of 7.98% and a net margin of 6.54%. The business had revenue of $22.50 billion during the quarter, compared to the consensus estimate of $23.18 billion. During the same quarter last year, the company earned $0.52 EPS. Tesla’s revenue for the quarter was down 11.8% on a year-over-year basis. Equities research analysts expect that Tesla, Inc. will post 2.56 EPS for the current year.

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.