Thrive Wealth Management LLC Sells 387 Shares of Tesla, Inc. (NASDAQ:TSLA)

Thrive Wealth Management LLC reduced its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 7.4% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,840 shares of the electric vehicle producer’s stock after selling 387 shares during the period. Thrive Wealth Management LLC’s holdings in Tesla were worth $851,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Holderness Investments Co. increased its position in Tesla by 1.6% in the 3rd quarter. Holderness Investments Co. now owns 2,599 shares of the electric vehicle producer’s stock valued at $650,000 after buying an additional 42 shares in the last quarter. Daymark Wealth Partners LLC increased its position in Tesla by 0.4% in the 4th quarter. Daymark Wealth Partners LLC now owns 10,554 shares of the electric vehicle producer’s stock valued at $2,622,000 after buying an additional 45 shares in the last quarter. Cravens & Co Advisors LLC boosted its stake in Tesla by 1.2% during the 3rd quarter. Cravens & Co Advisors LLC now owns 4,095 shares of the electric vehicle producer’s stock valued at $1,025,000 after purchasing an additional 48 shares during the last quarter. Patten & Patten Inc. TN boosted its stake in Tesla by 1.1% during the 4th quarter. Patten & Patten Inc. TN now owns 4,601 shares of the electric vehicle producer’s stock valued at $1,143,000 after purchasing an additional 48 shares during the last quarter. Finally, Caerus Investment Advisors LLC boosted its stake 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 buying an additional 49 shares during the last quarter. 66.20% of the stock is owned by institutional investors.

Analysts Set New Price Targets

TSLA has been the topic of a number of research analyst reports. Citigroup restated a “neutral” rating on shares of Tesla in a research note on Wednesday, June 12th. Wedbush restated an “outperform” rating and issued a $275.00 target price on shares of Tesla in a research note on Friday, June 14th. Deutsche Bank Aktiengesellschaft upped their price objective on Tesla from $123.00 to $136.00 and gave the company a “hold” rating in a research note on Thursday, April 25th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $230.00 price objective on shares of Tesla in a research note on Monday. Finally, Evercore ISI dropped their price objective on Tesla from $155.00 to $145.00 and set an “in-line” rating on the stock in a research note on Monday, April 29th. Seven equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, Tesla currently has an average rating of “Hold” and a consensus price target of $187.30.

Tesla Trading Up 2.3 %

Shares of Tesla stock traded up $4.48 during trading on Friday, reaching $201.90. 16,213,498 shares of the stock were exchanged, compared to its average volume of 94,691,992. The company has a quick ratio of 1.17, a current ratio of 1.72 and a debt-to-equity ratio of 0.04. The stock’s fifty day moving average is $175.83 and its 200 day moving average is $192.28. The firm has a market cap of $643.90 billion, a price-to-earnings ratio of 50.36, a price-to-earnings-growth ratio of 4.87 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 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.35. The company had revenue of $21.30 billion during the quarter, compared to analyst estimates of $22.15 billion. Tesla had a net margin of 14.37% and a return on equity of 13.18%. As a group, equities research analysts expect that Tesla, Inc. will post 1.87 earnings per share for the current fiscal year.

Insider Transactions at Tesla

In related news, SVP Xiaotong Zhu sold 650 shares of the stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $174.21, for a total value of $113,236.50. Following the completion of the transaction, the senior vice president now directly owns 65,155 shares of the company’s stock, valued at $11,350,652.55. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Tesla news, SVP Xiaotong Zhu sold 650 shares of the firm’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 completion of the transaction, the senior vice president now owns 65,155 shares of the company’s stock, valued at $11,350,652.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robyn M. Denholm sold 93,705 shares of the firm’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 transaction, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $2,772,900. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 104,855 shares of company stock worth $19,285,643. Company insiders own 25.10% of the company’s stock.

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.