Chicago Capital LLC Trims Holdings in Tesla, Inc. (NASDAQ:TSLA)

Chicago Capital LLC lowered its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 10.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,630 shares of the electric vehicle producer's stock after selling 1,979 shares during the quarter. Chicago Capital LLC's holdings in Tesla were worth $4,310,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. True Wealth Design LLC lifted its stake in Tesla by 79.5% during 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. raised its holdings in shares of Tesla by 75.6% in 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. lifted its stake in 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 acquiring an additional 58 shares in the last quarter. Navigoe LLC purchased a new position in Tesla during the 4th quarter valued at about $37,000. Finally, CoreFirst Bank & Trust purchased a new stake in Tesla during the fourth quarter worth about $38,000. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on TSLA shares. Cowen upgraded shares of Tesla from a "hold" rating to a "buy" rating in a report on Thursday, March 6th. BNP Paribas set a $137.00 price target on shares of Tesla and gave the stock an "underperform" rating in a research note on Wednesday, April 16th. Stifel Nicolaus set a $450.00 price objective on Tesla and gave the company a "buy" rating in a research note on Thursday, April 24th. Cfra Research lowered Tesla from a "moderate buy" rating to a "hold" rating in a report on Tuesday, April 22nd. Finally, Barclays cut their price target on Tesla from $325.00 to $275.00 and set an "equal weight" rating on the stock in a report on Monday, April 21st. Ten research analysts have rated the stock with a sell rating, thirteen have given a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $293.67.

Tesla Stock Performance

Shares of NASDAQ TSLA traded up $0.11 during mid-day trading on Friday, hitting $322.16. 108,081,721 shares of the company were exchanged, compared to its average volume of 100,816,555. Tesla, Inc. has a 1-year low of $179.66 and a 1-year high of $488.54. The firm has a market cap of $1.04 trillion, a price-to-earnings ratio of 177.01, a price-to-earnings-growth ratio of 12.04 and a beta of 2.47. The company has a quick ratio of 1.54, a current ratio of 2.00 and a debt-to-equity ratio of 0.07. The stock has a 50 day simple moving average of $304.81 and a 200-day simple moving average of $332.35.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share for the quarter, missing analysts' consensus estimates of $0.53 by ($0.26). Tesla had a return on equity of 9.02% and a net margin of 6.66%. The business had revenue of $19.34 billion for the quarter, compared to analyst estimates of $22.93 billion. During the same period in the prior year, the company earned $0.45 EPS. On average, sell-side analysts forecast that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insiders Place Their Bets

In other Tesla news, Director Robyn M. Denholm sold 112,395 shares of the company's stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $274.12, for a total value of $30,809,717.40. Following the sale, the director now owns 85,000 shares of the company's stock, valued at approximately $23,300,200. This represents a 56.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction on Monday, April 7th. The stock was sold at an average price of $250.00, for a total value of $1,000,000.00. Following the transaction, the chief financial officer now directly owns 26,950 shares of the company's stock, valued at $6,737,500. This trade represents a 12.92% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 833,509 shares of company stock worth $278,648,925. 20.70% of the stock is owned by company insiders.

Tesla 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.