Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Miracle Mile Advisors LLC

Miracle Mile Advisors LLC reduced its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 7.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 20,370 shares of the electric vehicle producer’s stock after selling 1,619 shares during the quarter. Miracle Mile Advisors LLC’s holdings in Tesla were worth $3,581,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in TSLA. Holderness Investments Co. increased its position in shares of Tesla by 1.6% in the 3rd quarter. Holderness Investments Co. now owns 2,599 shares of the electric vehicle producer’s stock worth $650,000 after purchasing an additional 42 shares during the last quarter. Daymark Wealth Partners LLC increased its position in shares of Tesla by 0.4% in the 4th quarter. Daymark Wealth Partners LLC now owns 10,554 shares of the electric vehicle producer’s stock worth $2,622,000 after purchasing an additional 45 shares during the last quarter. Cravens & Co Advisors LLC increased its position in shares of Tesla by 1.2% in the 3rd quarter. Cravens & Co Advisors LLC now owns 4,095 shares of the electric vehicle producer’s stock worth $1,025,000 after purchasing an additional 48 shares during the last quarter. Patten & Patten Inc. TN increased its position in shares of Tesla by 1.1% in the 4th quarter. Patten & Patten Inc. TN now owns 4,601 shares of the electric vehicle producer’s stock worth $1,143,000 after purchasing an additional 48 shares during the last quarter. Finally, Caerus Investment Advisors LLC increased its position in shares of Tesla by 0.3% in the 4th quarter. Caerus Investment Advisors LLC now owns 14,395 shares of the electric vehicle producer’s stock worth $3,577,000 after purchasing an additional 49 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

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

Tesla Stock Up 6.1 %

NASDAQ TSLA opened at $209.86 on Tuesday. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.72 and a quick ratio of 1.17. The company’s 50 day simple moving average is $177.80 and its 200 day simple moving average is $191.38. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $299.29. The company has a market capitalization of $669.29 billion, a P/E ratio of 53.54, a PEG ratio of 4.91 and a beta of 2.31.

Tesla (NASDAQ:TSLA) last released its earnings results on Tuesday, April 23rd. The electric vehicle producer reported $0.35 EPS for the quarter, hitting analysts’ consensus estimates of $0.35. Tesla had a net margin of 14.37% and a return on equity of 13.18%. The business had revenue of $21.30 billion for the quarter, compared to the consensus estimate of $22.15 billion. Equities research analysts expect that Tesla, Inc. will post 1.86 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

TSLA has been the subject of several research analyst reports. Wells Fargo & Company reissued an “underweight” rating and issued a $120.00 target price on shares of Tesla in a research report on Monday. JPMorgan Chase & Co. decreased their price target on shares of Tesla from $130.00 to $115.00 and set an “underweight” rating for the company in a report on Wednesday, April 3rd. Oppenheimer reaffirmed a “market perform” rating on shares of Tesla in a report on Wednesday, April 24th. Piper Sandler reaffirmed an “overweight” rating and issued a $205.00 price target on shares of Tesla in a report on Monday, April 22nd. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of Tesla from $123.00 to $136.00 and gave the company a “hold” rating in a report on Thursday, April 25th. Seven analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, Tesla has an average rating of “Hold” and a consensus price target of $187.30.

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.