Resonant Capital Advisors LLC Sells 149 Shares of Tesla, Inc. (NASDAQ:TSLA)

Resonant Capital Advisors LLC trimmed its stake in Tesla, Inc. (NASDAQ:TSLA) by 2.5% during the 1st quarter, HoldingsChannel reports. The fund owned 5,732 shares of the electric vehicle producer’s stock after selling 149 shares during the quarter. Resonant Capital Advisors LLC’s holdings in Tesla were worth $1,486,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Wealth Group Ltd. purchased a new stake in shares of Tesla during the fourth quarter valued at $275,000. Eagle Capital Management LLC purchased a new stake in Tesla during the 4th quarter valued at $331,000. Brighton Jones LLC increased its position in Tesla by 11.8% during the fourth quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer’s stock valued at $35,509,000 after acquiring an additional 9,293 shares during the last quarter. Revolve Wealth Partners LLC increased its position in shares of Tesla by 21.2% during the 4th quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer’s stock valued at $2,147,000 after purchasing an additional 931 shares during the last quarter. Finally, Mascagni Wealth Management Inc. bought a new position in Tesla in the fourth quarter worth approximately $346,000. Institutional investors own 66.20% of the company’s stock.

Insider Activity

In related news, CFO Vaibhav Taneja sold 2,564 shares of the stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $285.71, for a total transaction 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 $1,692,546.04. This represents a 30.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of the firm’s stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $357.30, for a total transaction of $170,636,475.60. Following the completion of the sale, the director owned 855,394 shares of the company’s stock, valued at approximately $305,632,276.20. This trade represents a 35.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 833,509 shares of company stock worth $278,648,925 over the last ninety days. 20.70% of the stock is currently owned by corporate insiders.

Tesla Price Performance

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

Tesla (NASDAQ:TSLA) last released its quarterly earnings data 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). Tesla had a return on equity of 9.02% and a net margin of 6.66%. The business had revenue of $19.34 billion during the quarter, compared to analysts’ expectations of $22.93 billion. During the same period last year, the company earned $0.45 earnings per share. On average, research analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have recently weighed in on TSLA. Raymond James Financial cut Tesla to an “outperform” rating in a research report on Tuesday, April 22nd. Argus reiterated a “hold” rating on shares of Tesla in a research report on Monday, June 9th. Guggenheim reiterated a “sell” rating and set a $175.00 price objective on shares of Tesla in a research report on Monday, June 23rd. Piper Sandler reissued an “overweight” rating and set a $400.00 price objective on shares of Tesla in a report on Tuesday, June 10th. Finally, Cowen upgraded Tesla from a “hold” rating to a “buy” rating in a report on Thursday, March 6th. Ten research analysts have rated the stock with a sell rating, thirteen have given a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Tesla currently has an average rating of “Hold” and an average target price 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.