Silverlake Wealth Management LLC Sells 223 Shares of Tesla, Inc. (NASDAQ:TSLA)

Silverlake Wealth Management LLC lowered its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 8.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 2,299 shares of the electric vehicle producer’s stock after selling 223 shares during the quarter. Silverlake Wealth Management LLC’s holdings in Tesla were worth $404,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Wyrmwood Management LLC bought a new stake in shares of Tesla during the fourth quarter worth $25,000. Lam Group Inc. bought a new stake in Tesla during the 4th quarter valued at about $25,000. Mendota Financial Group LLC boosted its position in Tesla by 202.2% in the 4th quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock valued at $34,000 after buying an additional 91 shares during the period. OLD Point Trust & Financial Services N A bought a new position in Tesla in the 4th quarter worth about $37,000. Finally, Kathleen S. Wright Associates Inc. increased its position in shares of Tesla by 111.1% during the fourth quarter. Kathleen S. Wright Associates Inc. now owns 190 shares of the electric vehicle producer’s stock worth $47,000 after acquiring an additional 100 shares during the period. 66.20% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on TSLA. Wedbush reiterated an “outperform” rating and issued a $275.00 price target on shares of Tesla in a report on Friday, June 14th. The Goldman Sachs Group reissued a “neutral” rating and set a $175.00 price target on shares of Tesla in a research report on Wednesday. Morgan Stanley restated an “overweight” rating and issued a $310.00 price objective on shares of Tesla in a report on Thursday, June 20th. Royal Bank of Canada dropped their target price on shares of Tesla from $293.00 to $227.00 and set an “outperform” rating on the stock in a report on Thursday, June 20th. Finally, Jefferies Financial Group cut their target price on shares of Tesla from $185.00 to $165.00 and set a “hold” rating on the stock in a research report on Wednesday, April 10th. Seven investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $187.57.

Insider Activity

In related news, Director Robyn M. Denholm sold 93,705 shares of the stock in a transaction 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 directly owns 15,000 shares of the company’s stock, valued at $2,772,900. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Robyn M. Denholm sold 93,705 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The stock was 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 approximately $2,772,900. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Xiaotong Zhu sold 650 shares of Tesla stock in a transaction 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 completion of the sale, 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. Insiders own 20.90% of the company’s stock.

Tesla Price Performance

NASDAQ:TSLA opened at $231.26 on Wednesday. The firm’s fifty day moving average is $179.16 and its two-hundred day moving average is $191.09. The firm has a market cap of $737.53 billion, a price-to-earnings ratio of 59.00, a PEG ratio of 4.91 and a beta of 2.31. Tesla, Inc. has a one year low of $138.80 and a one year high of $299.29. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.17 and a current ratio of 1.72.

Tesla (NASDAQ:TSLA) last issued 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 return on equity of 13.18% and a net margin of 14.37%. The firm had revenue of $21.30 billion for the quarter, compared to the consensus estimate of $22.15 billion. Research analysts expect that Tesla, Inc. will post 1.86 EPS for the current 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.