Apollon Wealth Management LLC Has $15.34 Million Stake in Tesla, Inc. (NASDAQ:TSLA)

Apollon Wealth Management LLC cut its position in Tesla, Inc. (NASDAQ:TSLA) by 6.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 77,536 shares of the electric vehicle producer’s stock after selling 5,459 shares during the quarter. Apollon Wealth Management LLC’s holdings in Tesla were worth $15,343,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank bought a new position in Tesla in the fourth quarter valued at about $7,844,757,000. Vanguard Group Inc. increased its position in Tesla by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 229,806,372 shares of the electric vehicle producer’s stock worth $57,102,287,000 after purchasing an additional 3,866,361 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its position in Tesla by 2,101.1% during the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,469,190 shares of the electric vehicle producer’s stock worth $365,064,000 after purchasing an additional 1,402,443 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its position in Tesla by 12.9% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,849,425 shares of the electric vehicle producer’s stock worth $1,731,430,000 after purchasing an additional 1,125,329 shares in the last quarter. Finally, Nikko Asset Management Americas Inc. increased its position in Tesla by 60.2% during the 1st quarter. Nikko Asset Management Americas Inc. now owns 2,854,198 shares of the electric vehicle producer’s stock worth $501,654,000 after purchasing an additional 1,072,366 shares in the last quarter. Institutional investors own 66.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on TSLA shares. Mizuho upped their price objective on shares of Tesla from $180.00 to $230.00 and gave the stock a “neutral” rating in a research report on Friday, July 12th. Barclays lowered their price objective on shares of Tesla from $225.00 to $220.00 and set an “equal weight” rating for the company in a research report on Thursday, July 25th. Morgan Stanley restated an “overweight” rating and issued a $310.00 price target on shares of Tesla in a research report on Monday, July 29th. New Street Research cut shares of Tesla from a “buy” rating to a “neutral” rating and set a $225.00 price target for the company. in a research report on Wednesday, July 24th. Finally, Oppenheimer restated a “market perform” rating on shares of Tesla in a research report on Tuesday, July 9th. Nine investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $204.21.

Insider Activity

In related news, SVP Xiaotong Zhu sold 650 shares of the firm’s stock in a transaction dated 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 owns 65,155 shares in the company, valued at $11,350,652.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Robyn M. Denholm sold 66,364 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $219.96, for a total value of $14,597,425.44. Following the completion of the transaction, the director now directly owns 85,000 shares in the company, valued at $18,696,600. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 disclosure for this sale can be found here. 25.10% of the stock is currently owned by corporate insiders.

Tesla Stock Up 3.1 %

Shares of Tesla stock traded up $6.60 during trading hours on Monday, reaching $222.72. The company’s stock had a trading volume of 76,336,683 shares, compared to its average volume of 99,174,625. Tesla, Inc. has a one year low of $138.80 and a one year high of $278.98. The company has a market capitalization of $710.30 billion, a P/E ratio of 56.31, a P/E/G ratio of 5.22 and a beta of 2.31. The stock’s fifty day simple moving average is $215.14 and its two-hundred day simple moving average is $190.99. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.40 and a current ratio of 1.91.

Tesla (NASDAQ:TSLA) last announced its earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.10). The firm had revenue of $25.50 billion during the quarter, compared to analysts’ expectations of $24.38 billion. Tesla had a net margin of 13.00% and a return on equity of 10.41%. The business’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.78 EPS. On average, research analysts forecast that Tesla, Inc. will post 1.79 earnings per share 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.