CCM Investment Advisers LLC Trims Stock Position in Tesla, Inc. (NASDAQ:TSLA)

CCM Investment Advisers LLC trimmed its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 95.1% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,419 shares of the electric vehicle producer's stock after selling 27,595 shares during the period. CCM Investment Advisers LLC's holdings in Tesla were worth $368,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. True Wealth Design LLC grew its stake in shares of Tesla by 79.5% in the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock worth $28,000 after purchasing an additional 31 shares in the last quarter. Horrell Capital Management Inc. increased its stake in Tesla by 75.6% during the 4th quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer's stock valued at $32,000 after buying an additional 34 shares during the period. GS Investments Inc. raised its position in shares of Tesla by 193.3% during the 4th quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer's stock worth $36,000 after buying an additional 58 shares in the last quarter. Navigoe LLC bought a new position in shares of Tesla in the fourth quarter valued at approximately $37,000. Finally, CoreFirst Bank & Trust acquired a new position in shares of Tesla during the fourth quarter valued at approximately $38,000. 66.20% of the stock is currently owned by institutional investors.

Insider Activity at Tesla

In other news, Director Joseph Gebbia bought 4,000 shares of the company's stock in a transaction that occurred on Thursday, April 24th. The shares were acquired at an average price of $256.31 per share, for a total transaction of $1,025,240.00. Following the completion of the acquisition, the director now directly owns 4,111 shares in the company, valued at approximately $1,053,690.41. This represents a 3,603.60% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Vaibhav Taneja sold 2,564 shares of the company's stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $285.71, for a total transaction of $732,560.44. Following the transaction, the chief financial officer now owns 5,924 shares in the company, valued at $1,692,546.04. This represents a 30.21% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 818,509 shares of company stock worth $273,791,775. Corporate insiders own 20.70% of the company's stock.

Tesla Stock Up 1.2%

TSLA stock traded up $3.82 during mid-day trading on Monday, reaching $329.13. The company had a trading volume of 82,625,465 shares, compared to its average volume of 100,763,551. The company has a market capitalization of $1.06 trillion, a price-to-earnings ratio of 161.34, a PEG ratio of 5.86 and a beta of 2.47. Tesla, Inc. has a 52 week low of $177.00 and a 52 week high of $488.54. The stock has a 50 day simple moving average of $299.39 and a two-hundred day simple moving average of $332.88. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS for the quarter, missing analysts' consensus estimates of $0.53 by ($0.26). Tesla had a net margin of 7.26% and a return on equity of 10.31%. The firm had revenue of $19.34 billion during the quarter, compared to analyst estimates of $22.93 billion. During the same quarter in the prior year, the business earned $0.45 EPS. As a group, equities analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Raymond James cut Tesla to an "outperform" rating in a research report on Tuesday, April 22nd. Roth Mkm dropped their price target on shares of Tesla from $450.00 to $395.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. Bank of America lowered their price objective on shares of Tesla from $490.00 to $380.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 4th. Piper Sandler restated an "overweight" rating and set a $400.00 target price on shares of Tesla in a report on Tuesday, June 10th. Finally, TD Cowen upgraded Tesla from a "hold" rating to a "buy" rating and increased their price objective for the company from $180.00 to $388.00 in a research report on Friday, March 7th. Ten research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $293.67.

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.