Pathway Financial Advisors LLC Reduces Stake in Tesla, Inc. (NASDAQ:TSLA)

Pathway Financial Advisors LLC lessened its holdings in Tesla, Inc. (NASDAQ:TSLA) by 4.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,091 shares of the electric vehicle producer’s stock after selling 56 shares during the period. Pathway Financial Advisors LLC’s holdings in Tesla were worth $283,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. True Wealth Design LLC lifted its stake in shares of 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 purchasing an additional 31 shares during the last quarter. Horrell Capital Management Inc. raised its holdings in shares of Tesla by 75.6% in the 4th quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock valued at $32,000 after buying an additional 34 shares during the period. GS Investments Inc. increased its holdings 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 purchasing an additional 58 shares during the period. Navigoe LLC purchased a new stake in Tesla during the 4th quarter worth about $37,000. Finally, CoreFirst Bank & Trust purchased a new stake in Tesla during the 4th quarter worth about $38,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Stock Performance

NASDAQ TSLA opened at $325.31 on Friday. Tesla, Inc. has a 1-year low of $176.92 and a 1-year high of $488.54. The company has a market capitalization of $1.05 trillion, a P/E ratio of 159.47, a PEG ratio of 5.86 and a beta of 2.47. The business has a 50 day moving average price of $299.39 and a 200 day moving average price of $332.88. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61.

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 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 firm had revenue of $19.34 billion during the quarter, compared to analysts’ expectations of $22.93 billion. During the same period in the previous year, the business earned $0.45 earnings per share. Sell-side analysts expect that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on TSLA shares. Stifel Nicolaus set a $450.00 price objective on Tesla and gave the stock a “buy” rating in a research report on Thursday, April 24th. BNP Paribas set a $137.00 price objective on Tesla and gave the stock an “underperform” rating in a research report on Wednesday, April 16th. Cantor Fitzgerald lowered their price objective on Tesla from $425.00 to $355.00 and set an “overweight” rating for the company in a research report on Wednesday, April 23rd. Wedbush set a $500.00 target price on Tesla in a research report on Thursday, June 5th. Finally, TD Cowen raised Tesla from a “hold” rating to a “buy” rating and upped their target price for the company from $180.00 to $388.00 in a research report on Friday, March 7th. Ten research analysts have rated the stock with a sell rating, thirteen have given a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Tesla has an average rating of “Hold” and a consensus target price of $293.67.

Insider Activity at Tesla

In related news, CFO Vaibhav Taneja sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $350.11, for a total value of $1,050,330.00. Following the completion of the transaction, the chief financial officer now directly owns 26,950 shares of the company’s stock, valued at $9,435,464.50. This trade represents a 10.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Joseph Gebbia purchased 4,000 shares of the company’s stock in a transaction on Thursday, April 24th. The shares were bought at an average cost of $256.31 per share, with a total value of $1,025,240.00. Following the transaction, the director now directly owns 4,111 shares of the company’s stock, valued at $1,053,690.41. This represents a 3,603.60% increase in their position. The disclosure for this purchase can be found here. Insiders sold 818,509 shares of company stock valued at $273,791,775 in the last ninety days. Corporate insiders own 20.70% of the company’s stock.

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.