Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Ridgecrest Wealth Partners LLC

Ridgecrest Wealth Partners LLC reduced its stake in shares of Tesla, Inc. (NASDAQ:TSLA – Free Report) by 33.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,604 shares of the electric vehicle producer’s stock after selling 1,328 shares during the quarter. Ridgecrest Wealth Partners LLC’s holdings in Tesla were worth $682,000 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. Lakewood Asset Management LLC acquired a new position in Tesla during the fourth quarter worth about $25,000. Alpha Paradigm Partners LLC acquired a new stake in shares of Tesla in the third quarter valued at approximately $27,000. GW&K Investment Management LLC acquired a new stake in shares of Tesla in the first quarter valued at approximately $30,000. Mendota Financial Group LLC grew its position in shares of Tesla by 3,733.3% in the second quarter. Mendota Financial Group LLC now owns 115 shares of the electric vehicle producer’s stock valued at $30,000 after purchasing an additional 112 shares during the last quarter. Finally, MayTech Global Investments LLC acquired a new stake in shares of Tesla in the fourth quarter valued at approximately $30,000. 41.87% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 2,500 shares of the firm’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $266.34, for a total transaction of $665,850.00. Following the completion of the transaction, the senior vice president now directly owns 60,438 shares of the company’s stock, valued at approximately $16,097,056.92. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Tesla news, SVP Xiaotong Zhu sold 2,500 shares of the firm’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $266.34, for a total transaction of $665,850.00. Following the completion of the transaction, the senior vice president now directly owns 60,438 shares of the company’s stock, valued at approximately $16,097,056.92. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Andrew D. Baglino sold 10,500 shares of the firm’s stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $268.23, for a total transaction of $2,816,415.00. Following the transaction, the senior vice president now directly owns 66,834 shares of the company’s stock, valued at $17,926,883.82. The disclosure for this sale can be found here. In the last three months, insiders sold 49,565 shares of company stock valued at $12,563,110. Corporate insiders own 25.10% of the company’s stock.

Tesla Stock Up 1.4 %

Want More Great Investing Ideas?

TSLA traded up $3.63 during trading hours on Monday, reaching $254.75. 67,096,986 shares of the stock traded hands, compared to its average volume of 141,425,813. The firm’s fifty day simple moving average is $250.12 and its two-hundred day simple moving average is $230.45. The company has a market cap of $808.57 billion, a price-to-earnings ratio of 71.46, a PEG ratio of 4.27 and a beta of 2.07. Tesla, Inc. has a fifty-two week low of $101.81 and a fifty-two week high of $299.29. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.59 and a quick ratio of 1.07.

Tesla (NASDAQ:TSLA – Get Free Report) last released its quarterly earnings results on Wednesday, July 19th. The electric vehicle producer reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.22. The business had revenue of $24.93 billion during the quarter, compared to analyst estimates of $24.22 billion. Tesla had a net margin of 12.97% and a return on equity of 26.10%. The business’s revenue was up 47.2% on a year-over-year basis. During the same period last year, the business earned $0.65 EPS. As a group, analysts forecast that Tesla, Inc. will post 2.92 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Piper Sandler lowered their price target on shares of Tesla from $300.00 to $290.00 and set an “overweight” rating on the stock in a research report on Monday. Royal Bank of Canada reiterated an “outperform” rating and issued a $305.00 price target on shares of Tesla in a research report on Tuesday, September 26th. JPMorgan Chase & Co. raised their target price on shares of Tesla from $120.00 to $135.00 in a research report on Tuesday, October 3rd. Wells Fargo & Company decreased their target price on shares of Tesla from $265.00 to $260.00 and set an “equal weight” rating on the stock in a research report on Monday, October 9th. Finally, Barclays restated an “equal weight” rating and set a $260.00 target price on shares of Tesla in a research report on Friday, September 22nd. Seven research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $238.70.

View Our Latest Analysis on Tesla

About Tesla

(Free Report)

Tesla, Inc designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. It 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, retail merchandise, and vehicle insurance services.