Prestige Wealth Management Group LLC Sells 3,774 Shares of Tesla, Inc. (NASDAQ:TSLA)

Prestige Wealth Management Group LLC decreased its stake in Tesla, Inc. (NASDAQ:TSLA) by 45.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,464 shares of the electric vehicle producer’s stock after selling 3,774 shares during the period. Prestige Wealth Management Group LLC’s holdings in Tesla were worth $883,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Bank & Trust Co bought a new position in Tesla during the second quarter valued at approximately $25,000. OLD Point Trust & Financial Services N A bought a new position in shares of Tesla during the 4th quarter valued at $37,000. Guardian Wealth Management Inc. bought a new stake in Tesla in the fourth quarter worth $47,000. Kessler Investment Group LLC boosted its position in Tesla by 35.9% during the second quarter. Kessler Investment Group LLC now owns 193 shares of the electric vehicle producer’s stock valued at $38,000 after buying an additional 51 shares during the period. Finally, A.P. Gilfoyle & Co. L.P. bought a new position in shares of Tesla during the fourth quarter valued at about $50,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Stock Down 8.4 %

TSLA stock traded down $19.44 during trading on Friday, hitting $210.73. 111,432,758 shares of the stock traded hands, compared to its average volume of 68,186,248. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.91 and a quick ratio of 1.40. The stock has a market cap of $673.21 billion, a price-to-earnings ratio of 53.76, a price-to-earnings-growth ratio of 5.80 and a beta of 2.29. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $278.98. The firm’s 50 day moving average is $224.47 and its two-hundred day moving average is $193.60.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by ($0.10). The business had revenue of $25.50 billion during the quarter, compared to the consensus estimate of $24.38 billion. Tesla had a net margin of 13.00% and a return on equity of 10.41%. The business’s revenue was up 2.3% compared to the same quarter last year. During the same period last year, the company posted $0.78 earnings per share. On average, sell-side analysts anticipate that Tesla, Inc. will post 1.75 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Glj Research restated a “sell” rating and set a $24.86 target price on shares of Tesla in a report on Thursday. William Blair started coverage on shares of Tesla in a report on Thursday, August 29th. They issued an “outperform” rating on the stock. Cantor Fitzgerald reiterated a “neutral” rating and set a $245.00 price target on shares of Tesla in a report on Tuesday, September 3rd. Sanford C. Bernstein reissued an “underperform” rating and issued a $120.00 price target on shares of Tesla in a report on Monday, June 10th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $300.00 price objective on shares of Tesla in a research note on Monday, August 19th. Nine equities research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $204.21.

Insider Buying and Selling

In other news, Director Robyn M. Denholm sold 66,364 shares of the company’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the completion of the sale, the director now owns 85,000 shares of the company’s stock, valued at approximately $18,696,600. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 25.10% of the stock is currently owned by corporate insiders.

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.