HBC Financial Services PLLC Sells 750 Shares of Tesla, Inc. (NASDAQ:TSLA)

HBC Financial Services PLLC reduced its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 36.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,310 shares of the electric vehicle producer’s stock after selling 750 shares during the quarter. Tesla accounts for approximately 0.2% of HBC Financial Services PLLC’s investment portfolio, making the stock its 25th biggest holding. HBC Financial Services PLLC’s holdings in Tesla were worth $235,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of TSLA. Wyrmwood Management LLC bought a new stake in shares of Tesla during the 4th quarter worth about $25,000. Lam Group Inc. acquired a new position in shares of Tesla in the fourth quarter valued at approximately $25,000. Mendota Financial Group LLC increased its stake in shares of Tesla by 202.2% during the fourth quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock worth $34,000 after purchasing an additional 91 shares during the period. OLD Point Trust & Financial Services N A bought a new position in Tesla during the 4th quarter worth $37,000. Finally, Guardian Wealth Management Inc. bought a new stake in shares of Tesla in the fourth quarter valued at about $47,000. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Tesla Stock Performance

Shares of NASDAQ:TSLA traded up $9.45 during midday trading on Friday, reaching $250.48. 112,930,039 shares of the company traded hands, compared to its average volume of 99,728,961. The firm’s fifty day moving average price is $191.41 and its two-hundred day moving average price is $191.76. The firm has a market capitalization of $798.83 billion, a price-to-earnings ratio of 62.88, a price-to-earnings-growth ratio of 6.58 and a beta of 2.31. The company has a quick ratio of 1.17, a current ratio of 1.72 and a debt-to-equity ratio of 0.04. Tesla, Inc. has a 12 month low of $138.80 and a 12 month 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 business had revenue of $21.30 billion for 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%. On average, equities analysts expect that Tesla, Inc. will post 1.85 earnings per share for the current year.

Insider Activity

In other 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 value of $17,322,306.30. Following the transaction, the director now owns 15,000 shares of the company’s stock, valued at approximately $2,772,900. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Robyn M. Denholm sold 93,705 shares of the business’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 value of $17,322,306.30. Following the completion of the sale, the director now owns 15,000 shares in the company, valued at approximately $2,772,900. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Xiaotong Zhu sold 650 shares of Tesla stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $174.21, for a total transaction of $113,236.50. Following the transaction, the senior vice president now directly owns 65,155 shares in the company, valued at $11,350,652.55. The disclosure for this sale can be found here. Corporate insiders own 25.10% of the company’s stock.

Wall Street Analyst Weigh In

TSLA has been the topic of a number of analyst reports. Stifel Nicolaus assumed coverage on Tesla in a research report on Tuesday, June 25th. They set a “buy” rating and a $265.00 price target on the stock. Barclays reduced their price target on shares of Tesla from $225.00 to $180.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 17th. Truist Financial reiterated a “hold” rating and issued a $162.00 target price on shares of Tesla in a research report on Wednesday, July 3rd. Mizuho boosted their target price on shares of Tesla from $180.00 to $230.00 and gave the stock a “neutral” rating in a report on Friday. Finally, Wedbush reaffirmed an “outperform” rating and set a $300.00 price target on shares of Tesla in a research note on Thursday. Eight investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $198.61.

About Tesla

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.