LVW Advisors LLC Reduces Holdings in Tesla, Inc. (NASDAQ:TSLA)

LVW Advisors LLC lowered its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 5.2% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,981 shares of the electric vehicle producer’s stock after selling 219 shares during the period. LVW Advisors LLC’s holdings in Tesla were worth $700,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the company. Holderness Investments Co. grew its position in shares of Tesla by 1.6% during the third quarter. Holderness Investments Co. now owns 2,599 shares of the electric vehicle producer’s stock worth $650,000 after buying an additional 42 shares in the last quarter. Daymark Wealth Partners LLC grew its position in shares of Tesla by 0.4% during the fourth quarter. Daymark Wealth Partners LLC now owns 10,554 shares of the electric vehicle producer’s stock worth $2,622,000 after buying an additional 45 shares in the last quarter. Cravens & Co Advisors LLC grew its position in shares of Tesla by 1.2% during the third quarter. Cravens & Co Advisors LLC now owns 4,095 shares of the electric vehicle producer’s stock worth $1,025,000 after buying an additional 48 shares in the last quarter. Patten & Patten Inc. TN grew its position in shares of Tesla by 1.1% during the fourth quarter. Patten & Patten Inc. TN now owns 4,601 shares of the electric vehicle producer’s stock worth $1,143,000 after buying an additional 48 shares in the last quarter. Finally, Caerus Investment Advisors LLC grew its position in shares of Tesla by 0.3% during the fourth quarter. Caerus Investment Advisors LLC now owns 14,395 shares of the electric vehicle producer’s stock worth $3,577,000 after buying an additional 49 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on TSLA. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $230.00 price objective on shares of Tesla in a report on Monday. Guggenheim reaffirmed a “sell” rating and issued a $126.00 price objective on shares of Tesla in a report on Tuesday, June 25th. Piper Sandler reaffirmed an “overweight” rating and issued a $205.00 price objective on shares of Tesla in a report on Monday, April 22nd. Morgan Stanley reaffirmed an “overweight” rating and issued a $310.00 price objective on shares of Tesla in a report on Thursday, June 20th. Finally, Royal Bank of Canada decreased their price objective on shares of Tesla from $293.00 to $227.00 and set an “outperform” rating for the company in a report on Thursday, June 20th. Seven equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $187.30.

Insiders Place Their Bets

In related news, Director Robyn M. Denholm sold 93,705 shares of Tesla stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $184.86, for a total value of $17,322,306.30. Following the transaction, the director now owns 15,000 shares of the company’s stock, valued at approximately $2,772,900. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Robyn M. Denholm sold 93,705 shares of Tesla stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $184.86, for a total value of $17,322,306.30. Following the transaction, the director now owns 15,000 shares of the company’s stock, valued at approximately $2,772,900. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Xiaotong Zhu sold 650 shares of Tesla stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $174.21, for a total value of $113,236.50. Following the completion of the transaction, the senior vice president now directly owns 65,155 shares in the company, valued at approximately $11,350,652.55. The disclosure for this sale can be found here. 20.90% of the stock is owned by company insiders.

Tesla Price Performance

Shares of Tesla stock opened at $209.86 on Tuesday. The company has a current ratio of 1.72, a quick ratio of 1.17 and a debt-to-equity ratio of 0.04. The company’s 50-day moving average price is $177.80 and its two-hundred day moving average price is $191.38. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $299.29. The stock has a market cap of $669.29 billion, a PE ratio of 53.54, a price-to-earnings-growth ratio of 4.91 and a beta of 2.31.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Tuesday, April 23rd. The electric vehicle producer reported $0.35 EPS for the quarter, hitting the consensus estimate of $0.35. Tesla had a net margin of 14.37% and a return on equity of 13.18%. The firm had revenue of $21.30 billion for the quarter, compared to analysts’ expectations of $22.15 billion. As a group, sell-side analysts anticipate that Tesla, Inc. will post 1.86 EPS for the current fiscal year.

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.