Cynosure Group LLC Reduces Holdings in Tesla, Inc. (NASDAQ:TSLA)

Cynosure Group LLC lowered its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 58.4% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,543 shares of the electric vehicle producer's stock after selling 2,168 shares during the period. Cynosure Group LLC's holdings in Tesla were worth $400,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in TSLA. Goldman Sachs Group Inc. raised its stake in shares of Tesla by 322.1% during the first quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer's stock valued at $6,891,201,000 after purchasing an additional 20,291,139 shares during the period. GAMMA Investing LLC increased its stake in shares of Tesla by 27,378.6% in the first quarter. GAMMA Investing LLC now owns 9,812,316 shares of the electric vehicle producer's stock worth $2,542,960,000 after buying an additional 9,776,607 shares during the last quarter. Northern Trust Corp increased its stake in shares of Tesla by 21.6% in the fourth quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer's stock worth $11,541,592,000 after buying an additional 5,075,418 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Tesla by 1.5% in the first quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer's stock worth $63,983,418,000 after buying an additional 3,694,524 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in shares of Tesla by 54.3% in the first quarter. Assenagon Asset Management S.A. now owns 8,464,765 shares of the electric vehicle producer's stock worth $2,193,728,000 after buying an additional 2,978,026 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company's stock.

Tesla Price Performance

Shares of NASDAQ TSLA opened at $329.61 on Friday. Tesla, Inc. has a twelve month low of $194.67 and a twelve month high of $488.54. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $1.06 trillion, a price-to-earnings ratio of 190.53, a PEG ratio of 11.58 and a beta of 2.33. The firm has a 50-day moving average of $318.68 and a two-hundred day moving average of $307.45.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share for the quarter, missing analysts' consensus estimates of $0.43 by ($0.03). Tesla had a net margin of 6.54% and a return on equity of 7.98%. The business had revenue of $22.50 billion during the quarter, compared to analyst estimates of $23.18 billion. During the same period in the previous year, the company posted $0.52 earnings per share. Tesla's revenue was down 11.8% compared to the same quarter last year. As a group, analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. China Renaissance restated a "hold" rating and issued a $349.00 price target on shares of Tesla in a research note on Friday, July 25th. Raymond James Financial lowered shares of Tesla to an "outperform" rating in a research note on Tuesday, April 22nd. Wedbush restated an "outperform" rating and issued a $500.00 price target on shares of Tesla in a research note on Monday, August 4th. Morgan Stanley restated an "overweight" rating and issued a $410.00 price target on shares of Tesla in a research note on Friday, June 6th. Finally, Piper Sandler restated an "overweight" rating and issued a $400.00 price target on shares of Tesla in a research note on Tuesday, June 10th. Ten analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $303.31.

Insider Buying and Selling at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 2,000 shares of the business's stock in a transaction dated Tuesday, July 8th. The stock was sold at an average price of $300.00, for a total transaction of $600,000.00. Following the sale, the chief financial officer owned 5,924 shares in the company, valued at approximately $1,777,200. The trade was a 25.24% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Xiaotong Zhu sold 15,000 shares of the business's stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $323.81, for a total value of $4,857,150.00. Following the sale, the senior vice president owned 67,600 shares in the company, valued at approximately $21,889,556. The trade was a 18.16% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 602,724 shares of company stock valued at $214,176,831 over the last 90 days. Insiders own 20.70% of the company's stock.

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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