Cottage Street Advisors LLC Lowers Position in Tesla, Inc. (NASDAQ:TSLA)

Cottage Street Advisors LLC cut its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 20.3% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,017 shares of the electric vehicle producer's stock after selling 1,025 shares during the period. Cottage Street Advisors LLC's holdings in Tesla were worth $1,041,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Wealth Group Ltd. purchased a new position in shares of Tesla in the fourth quarter valued at about $275,000. Tallon Kerry Patrick purchased a new position in shares of Tesla in the fourth quarter valued at about $374,000. Eagle Capital Management LLC purchased a new position in shares of Tesla in the fourth quarter valued at about $331,000. Brighton Jones LLC lifted its position in shares of Tesla by 11.8% in the fourth quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer's stock valued at $35,509,000 after acquiring an additional 9,293 shares in the last quarter. Finally, Revolve Wealth Partners LLC lifted its position in shares of Tesla by 21.2% in the fourth quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer's stock valued at $2,147,000 after acquiring an additional 931 shares in the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Tesla Stock Up 0.0%

Shares of NASDAQ:TSLA opened at $322.16 on Friday. Tesla, Inc. has a 52-week low of $180.69 and a 52-week high of $488.54. The stock has a market cap of $1.04 trillion, a P/E ratio of 177.01, a price-to-earnings-growth ratio of 12.04 and a beta of 2.47. The business's 50 day moving average is $306.22 and its 200 day moving average is $332.14. The company has a quick ratio of 1.54, a current ratio of 2.00 and a debt-to-equity ratio of 0.07.

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 (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.26). Tesla had a return on equity of 9.02% and a net margin of 6.66%. The firm had revenue of $19.34 billion during the quarter, compared to the consensus estimate of $22.93 billion. During the same period last year, the company earned $0.45 EPS. Sell-side analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Baird R W cut Tesla from a "strong-buy" rating to a "hold" rating in a report on Monday, June 9th. Cowen raised Tesla from a "hold" rating to a "buy" rating in a report on Thursday, March 6th. Roth Mkm reduced their target price on Tesla from $450.00 to $395.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. Morgan Stanley reaffirmed an "overweight" rating and issued a $410.00 target price on shares of Tesla in a report on Friday, June 6th. Finally, Barclays reduced their target price 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 investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $293.67.

Insider Buying and Selling

In other Tesla news, Director Robyn M. Denholm sold 112,390 shares of the company's stock in a transaction on Tuesday, April 29th. The stock was sold at an average price of $285.58, for a total transaction of $32,096,336.20. Following the completion of the sale, the director now owns 85,000 shares in the company, valued at $24,274,300. This represents a 56.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Vaibhav Taneja sold 4,000 shares of the company's 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 sale, the chief financial officer now owns 26,950 shares of the company's stock, valued at approximately $6,737,500. This represents a 12.92% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 833,509 shares of company stock valued at $278,648,925 over the last quarter. 20.70% of the stock is owned by corporate insiders.

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.

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