Tesla, Inc. $TSLA Shares Sold by Ibex Wealth Advisors

Ibex Wealth Advisors reduced its stake in shares of Tesla, Inc. (NASDAQ:TSLAFree Report) by 28.9% in the 1st quarter, HoldingsChannel reports. The firm owned 6,561 shares of the electric vehicle producer’s stock after selling 2,661 shares during the quarter. Ibex Wealth Advisors’ holdings in Tesla were worth $2,439,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. Norges Bank acquired a new position in Tesla in the 4th quarter valued at about $17,128,100,000. Corient Private Wealth LLC boosted its stake in shares of Tesla by 3,205.5% during the 4th quarter. Corient Private Wealth LLC now owns 21,459,599 shares of the electric vehicle producer’s stock worth $9,650,811,000 after purchasing an additional 20,810,386 shares during the last quarter. Bank of America Corp DE raised its position in shares of Tesla by 56.0% in the fourth quarter. Bank of America Corp DE now owns 20,755,605 shares of the electric vehicle producer’s stock valued at $9,334,211,000 after buying an additional 7,450,766 shares during the last quarter. Cardano Risk Management B.V. lifted its stake in shares of Tesla by 882.8% during the fourth quarter. Cardano Risk Management B.V. now owns 8,202,060 shares of the electric vehicle producer’s stock valued at $3,688,630,000 after buying an additional 7,367,507 shares during the period. Finally, Vanguard Group Inc. boosted its position in Tesla by 2.6% during the fourth quarter. Vanguard Group Inc. now owns 258,925,024 shares of the electric vehicle producer’s stock worth $116,443,762,000 after acquiring an additional 6,538,720 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Wall Street Analysts Forecast Growth

TSLA has been the subject of several recent analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Tesla in a research note on Monday, June 1st. Phillip Securities decreased their price objective on Tesla from $220.00 to $215.00 and set a “sell” rating on the stock in a report on Wednesday, May 13th. Citigroup initiated coverage on Tesla in a research report on Thursday. They issued a “market perform” rating for the company. Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a research report on Thursday, April 23rd. Finally, Guggenheim started coverage on Tesla in a research note on Monday, June 29th. They issued a “neutral” rating on the stock. Twenty-one investment analysts have rated the stock with a Buy rating, twenty-one have assigned a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $406.87.

Read Our Latest Stock Report on TSLA

Insider Transactions at Tesla

In other news, CFO Vaibhav Taneja sold 3,000 shares of the business’s stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $450.00, for a total transaction of $1,350,000.00. Following the completion of the sale, the chief financial officer owned 18,106 shares in the company, valued at approximately $8,147,700. The trade was a 14.21% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Kathleen Wilson-Thompson sold 26,409 shares of the stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $378.11, for a total transaction of $9,985,506.99. Following the sale, the director directly owned 48,399 shares of the company’s stock, valued at approximately $18,300,145.89. This trade represents a 35.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 32,015 shares of company stock worth $12,383,640. Company insiders own 19.90% of the company’s stock.

Key Headlines Impacting Tesla

Here are the key news stories impacting Tesla this week:

Tesla Stock Up 3.2%

Shares of NASDAQ TSLA opened at $406.55 on Friday. The stock has a market capitalization of $1.53 trillion, a PE ratio of 372.98, a P/E/G ratio of 14.50 and a beta of 1.80. The company has a quick ratio of 1.62, a current ratio of 2.04 and a debt-to-equity ratio of 0.09. The firm has a fifty day moving average of $409.76 and a 200-day moving average of $409.24. Tesla, Inc. has a 52-week low of $297.82 and a 52-week high of $498.83.

Tesla (NASDAQ:TSLAGet Free Report) last issued its earnings results on Thursday, April 23rd. The electric vehicle producer reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.02. Tesla had a return on equity of 4.89% and a net margin of 3.95%.The firm had revenue of $22.39 billion for the quarter, compared to analysts’ expectations of $22.96 billion. During the same quarter last year, the firm earned $0.27 earnings per share. The firm’s revenue for the quarter was up 15.8% compared to the same quarter last year. On average, analysts anticipate that Tesla, Inc. will post 1.29 EPS for the current year.

About Tesla

(Free Report)

Tesla, Inc (NASDAQ: TSLA) is an American company that designs, manufactures and sells electric vehicles, energy generation and energy storage products. Founded in 2003 by Martin Eberhard and Marc Tarpenning, Tesla grew into a vertically integrated mobility and clean‑energy company with Elon Musk serving as its chief executive officer. The company’s stated mission is to accelerate the world’s transition to sustainable energy, reflected in its combined focus on electric drivetrains, battery technology, renewable energy products and software.

Tesla’s automotive business includes a lineup of battery‑electric vehicles and related services.

See Also

Want to see what other hedge funds are holding TSLA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tesla, Inc. (NASDAQ:TSLAFree Report).

Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

Receive News & Ratings for Tesla Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tesla and related companies with MarketBeat.com's FREE daily email newsletter.