Spartan Planning & Wealth Management Sells 1,051 Shares of Tesla, Inc. (NASDAQ:TSLA)

Spartan Planning & Wealth Management lessened its holdings in Tesla, Inc. (NASDAQ:TSLA) by 24.7% during the first quarter, Holdings Channel reports. The fund owned 3,203 shares of the electric vehicle producer’s stock after selling 1,051 shares during the period. Spartan Planning & Wealth Management’s holdings in Tesla were worth $830,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the business. True Wealth Design LLC increased its position in Tesla by 79.5% during the 4th quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer’s stock worth $28,000 after buying an additional 31 shares during the period. Horrell Capital Management Inc. increased its position in Tesla by 75.6% during the 4th quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock worth $32,000 after buying an additional 34 shares during the period. GS Investments Inc. increased its position in Tesla by 193.3% during the 4th quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock worth $36,000 after buying an additional 58 shares during the period. Navigoe LLC bought a new position in Tesla during the 4th quarter worth $37,000. Finally, CoreFirst Bank & Trust bought a new position in Tesla during the 4th quarter worth $38,000. Institutional investors own 66.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on TSLA. Oppenheimer reiterated a “mixed” rating on shares of Tesla in a research report on Tuesday, March 18th. TD Cowen upgraded Tesla from a “hold” rating to a “buy” rating and increased their price objective for the stock from $180.00 to $388.00 in a research report on Friday, March 7th. Glj Research restated a “sell” rating and issued a $19.05 price target (down previously from $24.86) on shares of Tesla in a research report on Monday, April 21st. The Goldman Sachs Group reaffirmed a “neutral” rating on shares of Tesla in a research note on Tuesday, April 22nd. Finally, BNP Paribas set a $137.00 price target on Tesla and gave the company an “underperform” rating in a research note on Wednesday, April 16th. Ten equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $293.97.

Insider Buying and Selling at Tesla

In other news, Director Robyn M. Denholm sold 112,390 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $299.61, for a total transaction of $33,673,167.90. Following the transaction, the director now directly owns 85,000 shares of the company’s stock, valued at $25,466,850. This represents a 56.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Vaibhav Taneja sold 6,000 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $296.02, for a total value of $1,776,120.00. Following the completion of the sale, the chief financial officer now directly owns 23,084 shares of the company’s stock, valued at $6,833,325.68. The trade was a 20.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 984,783 shares of company stock valued at $320,019,942. 20.70% of the stock is currently owned by company insiders.

Tesla Stock Performance

NASDAQ:TSLA opened at $349.09 on Friday. The stock has a market cap of $1.12 trillion, a P/E ratio of 171.12, a price-to-earnings-growth ratio of 5.86 and a beta of 2.43. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. The stock’s 50-day moving average is $286.92 and its 200-day moving average is $333.95. Tesla, Inc. has a 1-year low of $167.41 and a 1-year high of $488.54.

Tesla (NASDAQ:TSLA) last announced its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.26). Tesla had a net margin of 7.26% and a return on equity of 10.31%. The company had revenue of $19.34 billion during the quarter, compared to the consensus estimate of $22.93 billion. During the same quarter in the previous year, the company earned $0.45 earnings per share. Equities research analysts anticipate that Tesla, Inc. will post 2.56 earnings per share 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.