Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Prosperity Wealth Management Inc.

Prosperity Wealth Management Inc. lowered its position in Tesla, Inc. (NASDAQ:TSLA) by 54.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,062 shares of the electric vehicle producer’s stock after selling 1,280 shares during the quarter. Prosperity Wealth Management Inc.’s holdings in Tesla were worth $264,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in TSLA. Axiom Financial Strategies LLC grew its stake in shares of Tesla by 9.8% in the first quarter. Axiom Financial Strategies LLC now owns 906 shares of the electric vehicle producer’s stock worth $777,000 after purchasing an additional 81 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in Tesla by 19.7% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,001,923 shares of the electric vehicle producer’s stock valued at $1,079,672,000 after buying an additional 164,789 shares in the last quarter. MAS Advisors LLC increased its stake in Tesla by 25.7% during the 1st quarter. MAS Advisors LLC now owns 396 shares of the electric vehicle producer’s stock valued at $433,000 after buying an additional 81 shares during the period. Ergoteles LLC raised its position in shares of Tesla by 33.4% during the 1st quarter. Ergoteles LLC now owns 3,567 shares of the electric vehicle producer’s stock worth $3,844,000 after buying an additional 893 shares in the last quarter. Finally, Mackenzie Financial Corp lifted its stake in shares of Tesla by 6.8% in the 1st quarter. Mackenzie Financial Corp now owns 72,167 shares of the electric vehicle producer’s stock worth $77,767,000 after acquiring an additional 4,593 shares during the period. Institutional investors own 66.20% of the company’s stock.

Insider Buying and Selling

In other news, SVP Xiaotong Zhu sold 687 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $177.11, for a total value of $121,674.57. Following the transaction, the senior vice president now owns 63,171 shares of the company’s stock, valued at approximately $11,188,215.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, SVP Xiaotong Zhu sold 687 shares of the firm’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $177.11, for a total value of $121,674.57. Following the transaction, the senior vice president now directly owns 63,171 shares in the company, valued at approximately $11,188,215.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Andrew D. Baglino sold 10,500 shares of the company’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $204.17, for a total value of $2,143,785.00. Following the completion of the sale, the senior vice president now owns 31,230 shares of the company’s stock, valued at approximately $6,376,229.10. The disclosure for this sale can be found here. Insiders sold a total of 209,098 shares of company stock worth $38,802,534 over the last three months. 20.90% of the stock is currently owned by company insiders.

Tesla Price Performance

Shares of Tesla stock traded down $1.40 during trading on Wednesday, reaching $155.71. The company’s stock had a trading volume of 44,304,383 shares, compared to its average volume of 101,372,797. Tesla, Inc. has a one year low of $152.37 and a one year high of $299.29. The stock has a 50-day moving average price of $180.88 and a two-hundred day moving average price of $213.04. The stock has a market capitalization of $495.90 billion, a P/E ratio of 35.90, a price-to-earnings-growth ratio of 4.25 and a beta of 2.39. The company has a current ratio of 1.73, a quick ratio of 1.25 and a debt-to-equity ratio of 0.05.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.03). The firm had revenue of $25.17 billion for the quarter, compared to analyst estimates of $25.64 billion. Tesla had a return on equity of 16.62% and a net margin of 15.50%. The firm’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same period in the prior year, the company posted $1.07 EPS. As a group, sell-side analysts anticipate that Tesla, Inc. will post 1.98 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on TSLA. JPMorgan Chase & Co. cut their price objective on Tesla from $130.00 to $115.00 and set an “underweight” rating for the company in a report on Wednesday, April 3rd. Robert W. Baird decreased their price target on Tesla from $300.00 to $280.00 and set an “outperform” rating for the company in a research report on Tuesday, April 2nd. Morgan Stanley cut their price objective on Tesla from $320.00 to $310.00 and set an “overweight” rating on the stock in a report on Thursday, April 4th. Barclays dropped their target price on shares of Tesla from $250.00 to $225.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 25th. Finally, Oppenheimer restated a “market perform” rating on shares of Tesla in a research report on Tuesday, April 2nd. Ten equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $198.81.

Tesla Company 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.