Quad Cities Investment Group LLC Trims Holdings in Tesla, Inc. (NASDAQ:TSLA)

Quad Cities Investment Group LLC cut its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 1.9% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,508 shares of the electric vehicle producer’s stock after selling 85 shares during the quarter. Quad Cities Investment Group LLC’s holdings in Tesla were worth $792,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Keystone Wealth Services LLC increased its holdings in shares of Tesla by 9.5% in the 1st quarter. Keystone Wealth Services LLC now owns 5,944 shares of the electric vehicle producer’s stock worth $1,045,000 after purchasing an additional 516 shares in the last quarter. Wealth Management Partners LLC raised its position in Tesla by 1.9% in the 1st quarter. Wealth Management Partners LLC now owns 11,693 shares of the electric vehicle producer’s stock worth $2,056,000 after buying an additional 223 shares during the last quarter. McNaughton Wealth Management LLC lifted its stake in Tesla by 9.6% during the 1st quarter. McNaughton Wealth Management LLC now owns 3,409 shares of the electric vehicle producer’s stock valued at $599,000 after acquiring an additional 300 shares during the period. Strong Tower Advisory Services boosted its holdings in Tesla by 1.1% in the first quarter. Strong Tower Advisory Services now owns 30,994 shares of the electric vehicle producer’s stock worth $5,431,000 after purchasing an additional 333 shares during the last quarter. Finally, Strategic Planning Group LLC grew its holdings in shares of Tesla by 33.2% in the first quarter. Strategic Planning Group LLC now owns 35,406 shares of the electric vehicle producer’s stock worth $6,224,000 after acquiring an additional 8,815 shares during the period. Institutional investors own 66.20% of the company’s stock.

Tesla Trading Up 2.6 %

TSLA stock traded up $4.77 during midday trading on Tuesday, hitting $187.35. 62,880,559 shares of the company’s stock were exchanged, compared to its average volume of 95,506,711. The business has a 50-day simple moving average of $174.41 and a two-hundred day simple moving average of $192.65. 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 stock has a market capitalization of $597.50 billion, a PE ratio of 47.32, a P/E/G ratio of 4.54 and a beta of 2.32. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $299.29.

Tesla (NASDAQ:TSLA) last posted 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. The business had revenue of $21.30 billion for the quarter, compared to analysts’ expectations of $22.15 billion. Tesla had a return on equity of 13.18% and a net margin of 14.37%. On average, sell-side analysts predict that Tesla, Inc. will post 1.87 EPS for the current fiscal year.

Insider Transactions at Tesla

In related news, SVP Andrew D. Baglino sold 10,500 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $176.20, for a total value of $1,850,100.00. Following the sale, the senior vice president now owns 31,230 shares of the company’s stock, valued at approximately $5,502,726. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $176.20, for a total value of $1,850,100.00. Following the completion of the transaction, the senior vice president now directly owns 31,230 shares of the company’s stock, valued at approximately $5,502,726. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Robyn M. Denholm sold 93,705 shares of the company’s stock in a transaction dated 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 completion of the transaction, the director now directly owns 15,000 shares of the company’s stock, valued at $2,772,900. The disclosure for this sale can be found here. Insiders have sold 104,855 shares of company stock valued at $19,285,643 in the last quarter. 20.90% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have recently commented on TSLA shares. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $175.00 price objective on shares of Tesla in a research note on Friday, June 14th. Piper Sandler restated an “overweight” rating and set a $205.00 target price on shares of Tesla in a research note on Monday, April 22nd. Robert W. Baird reissued an “outperform” rating and set a $280.00 price target on shares of Tesla in a report on Wednesday, April 17th. Truist Financial lowered their price objective on Tesla from $176.00 to $162.00 and set a “hold” rating on the stock in a research report on Wednesday, April 24th. Finally, Jefferies Financial Group lowered their price target on Tesla from $185.00 to $165.00 and set a “hold” rating on the stock in a report on Wednesday, April 10th. Seven analysts have rated the stock with a sell rating, seventeen have given a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $184.62.

Tesla 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.