WP Advisors LLC Sells 115 Shares of Tesla, Inc. (NASDAQ:TSLA)

WP Advisors LLC lowered its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 4.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,475 shares of the electric vehicle producer’s stock after selling 115 shares during the period. WP Advisors LLC’s holdings in Tesla were worth $641,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in TSLA. True Wealth Design LLC raised its holdings in Tesla by 79.5% in the 4th quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer’s stock valued at $28,000 after acquiring an additional 31 shares in the last quarter. Navigoe LLC acquired a new position in Tesla in the 4th quarter valued at $37,000. Cherry Tree Wealth Management LLC raised its holdings in Tesla by 86.3% in the 1st quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer’s stock valued at $25,000 after acquiring an additional 44 shares in the last quarter. First PREMIER Bank raised its holdings in 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 acquiring an additional 42 shares in the last quarter. Finally, Marshall & Sterling Wealth Advisors Inc. acquired a new position in shares of Tesla during the 4th quarter worth $39,000. Institutional investors own 66.20% of the company’s stock.

Tesla Trading Up 2.3%

NASDAQ TSLA opened at $329.61 on Monday. The business has a 50 day simple moving average of $318.68 and a 200 day simple moving average of $306.71. Tesla, Inc. has a one year low of $194.67 and a one year high of $488.54. The stock has a market capitalization of $1.06 trillion, a P/E ratio of 190.53, a P/E/G ratio of 11.46 and a beta of 2.33. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 EPS 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 for the quarter, compared to analyst estimates of $23.18 billion. During the same period in the prior year, the business earned $0.52 EPS. The company’s revenue for the quarter was down 11.8% on a year-over-year basis. Research analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Kimbal Musk sold 91,588 shares of the firm’s stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $357.39, for a total transaction of $32,732,635.32. Following the completion of the sale, the director owned 1,463,220 shares of the company’s stock, valued at $522,940,195.80. This trade represents a 5.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Vaibhav Taneja sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 8th. The shares were sold at an average price of $300.00, for a total value of $600,000.00. Following the completion of the sale, the chief financial officer directly owned 5,924 shares of the company’s stock, valued at $1,777,200. This trade represents a 25.24% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 602,724 shares of company stock worth $214,176,831. Company insiders own 20.70% of the company’s stock.

Analyst Upgrades and Downgrades

TSLA has been the subject of a number of research analyst reports. China Renaissance reissued a “hold” rating and set a $349.00 price target on shares of Tesla in a report on Friday, July 25th. Daiwa Capital Markets reissued a “neutral” rating on shares of Tesla in a report on Sunday, July 27th. William Blair cut Tesla from an “outperform” rating to a “market perform” rating in a report on Monday, July 7th. Truist Financial set a $280.00 price target on Tesla in a report on Tuesday, April 22nd. Finally, Raymond James Financial downgraded Tesla to an “outperform” rating in a research report on Tuesday, April 22nd. Ten investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $303.31.

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.