Goodman Advisory Group LLC Cuts Position in Tesla, Inc. (NASDAQ:TSLA)

Goodman Advisory Group LLC trimmed its position in shares of Tesla, Inc. (NASDAQ:TSLAGet Rating) by 16.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,166 shares of the electric vehicle producer’s stock after selling 629 shares during the period. Tesla comprises about 1.2% of Goodman Advisory Group LLC’s portfolio, making the stock its 27th biggest position. Goodman Advisory Group LLC’s holdings in Tesla were worth $3,412,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in TSLA. Norges Bank purchased a new stake in shares of Tesla during the fourth quarter worth approximately $7,918,804,000. SG Americas Securities LLC increased its stake in Tesla by 100.9% in the first quarter. SG Americas Securities LLC now owns 42,728 shares of the electric vehicle producer’s stock valued at $46,044,000 after purchasing an additional 4,686,913 shares during the last quarter. Banque Pictet & Cie SA increased its stake in Tesla by 38,084.4% in the fourth quarter. Banque Pictet & Cie SA now owns 1,494,920 shares of the electric vehicle producer’s stock valued at $1,579,802,000 after purchasing an additional 1,491,005 shares during the last quarter. State Street Corp increased its stake in Tesla by 4.0% in the fourth quarter. State Street Corp now owns 32,465,720 shares of the electric vehicle producer’s stock valued at $34,309,124,000 after purchasing an additional 1,235,579 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its stake in Tesla by 3,344.9% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 616,255 shares of the electric vehicle producer’s stock valued at $659,544,000 after purchasing an additional 598,366 shares during the last quarter. 40.64% of the stock is currently owned by hedge funds and other institutional investors.

Tesla Price Performance

Shares of TSLA stock traded down $52.60 during mid-day trading on Friday, reaching $873.30. The stock had a trading volume of 1,195,124 shares, compared to its average volume of 30,116,138. Tesla, Inc. has a 12-month low of $620.57 and a 12-month high of $1,243.49. The company has a market cap of $912.15 billion, a P/E ratio of 111.55, a price-to-earnings-growth ratio of 2.79 and a beta of 2.17. The business has a 50-day simple moving average of $741.57 and a 200 day simple moving average of $843.26. The company has a current ratio of 1.43, a quick ratio of 1.06 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLAGet Rating) last announced its quarterly earnings results on Wednesday, July 20th. The electric vehicle producer reported $2.27 earnings per share for the quarter, beating analysts’ consensus estimates of $1.81 by $0.46. Tesla had a return on equity of 29.04% and a net margin of 14.17%. The business had revenue of $16.93 billion during the quarter, compared to analysts’ expectations of $16.92 billion. During the same quarter last year, the business posted $1.02 earnings per share. The business’s revenue for the quarter was up 41.6% on a year-over-year basis. On average, sell-side analysts anticipate that Tesla, Inc. will post 10.58 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on TSLA shares. Wells Fargo & Company increased their price target on shares of Tesla from $820.00 to $830.00 and gave the company an “equal weight” rating in a research note on Thursday, July 21st. Citigroup increased their price objective on Tesla from $375.00 to $424.00 and gave the company a “sell” rating in a report on Tuesday. Credit Suisse Group reissued an “outperform” rating and issued a $1,000.00 price objective on shares of Tesla in a report on Tuesday, July 19th. Piper Sandler decreased their price objective on Tesla from $1,260.00 to $1,035.00 and set an “overweight” rating for the company in a report on Wednesday, May 18th. Finally, Morgan Stanley decreased their price objective on Tesla from $1,200.00 to $1,150.00 and set an “overweight” rating for the company in a report on Thursday, July 14th. Eight analysts have rated the stock with a sell rating, ten have assigned a hold rating and eighteen have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $859.50.

Insider Buying and Selling

In related news, Director Robyn M. Denholm sold 25,000 shares of Tesla stock in a transaction dated Wednesday, June 1st. The stock was sold at an average price of $757.33, for a total transaction of $18,933,250.00. Following the completion of the sale, the director now owns 5,000 shares in the company, valued at approximately $3,786,650. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Robyn M. Denholm sold 25,000 shares of Tesla stock in a transaction dated Wednesday, June 1st. The stock was sold at an average price of $757.33, for a total transaction of $18,933,250.00. Following the completion of the sale, the director now owns 5,000 shares in the company, valued at approximately $3,786,650. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Kathleen Wilson-Thompson sold 8,750 shares of Tesla stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $904.00, for a total value of $7,910,000.00. Following the sale, the director now owns 1,800 shares of the company’s stock, valued at approximately $1,627,200. The disclosure for this sale can be found here. In the last quarter, insiders sold 66,239 shares of company stock worth $53,099,879. 25.10% of the stock is owned by corporate insiders.

Tesla Company Profile

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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.

See Also

Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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