Dale Q Rice Investment Management Ltd Lowers Holdings in Tesla, Inc. (NASDAQ:TSLA)

Dale Q Rice Investment Management Ltd reduced its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 17.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,898 shares of the electric vehicle producer's stock after selling 2,774 shares during the period. Tesla makes up about 1.7% of Dale Q Rice Investment Management Ltd's investment portfolio, making the stock its 12th biggest position. Dale Q Rice Investment Management Ltd's holdings in Tesla were worth $3,343,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of TSLA. Jamison Private Wealth Management Inc. lifted its position in Tesla by 3.9% during the first quarter. Jamison Private Wealth Management Inc. now owns 21,373 shares of the electric vehicle producer's stock valued at $5,539,000 after purchasing an additional 809 shares in the last quarter. Rockline Wealth Management LLC lifted its position in Tesla by 3.9% during the first quarter. Rockline Wealth Management LLC now owns 12,123 shares of the electric vehicle producer's stock valued at $3,142,000 after purchasing an additional 456 shares in the last quarter. Evanson Asset Management LLC lifted its position in Tesla by 13.3% during the first quarter. Evanson Asset Management LLC now owns 8,997 shares of the electric vehicle producer's stock valued at $2,332,000 after purchasing an additional 1,057 shares in the last quarter. Carr Financial Group Corp lifted its position in Tesla by 4.8% during the first quarter. Carr Financial Group Corp now owns 3,065 shares of the electric vehicle producer's stock valued at $794,000 after purchasing an additional 141 shares in the last quarter. Finally, Advisor Resource Council purchased a new position in Tesla during the first quarter valued at $2,948,000. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Tesla news, CFO Vaibhav Taneja sold 1,000 shares of the business's stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $350.00, for a total transaction of $350,000.00. Following the completion of the transaction, the chief financial officer now owns 1,950 shares in the company, valued at $682,500. The trade was a 33.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Robyn M. Denholm sold 112,390 shares of the business's stock in a transaction that occurred on Tuesday, April 29th. The shares were sold at an average price of $285.58, for a total value of $32,096,336.20. Following the transaction, the director now owns 85,000 shares of the company's stock, valued at $24,274,300. This trade represents a 56.94% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 833,509 shares of company stock valued at $278,648,925 over the last ninety days. 20.70% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on TSLA. TD Cowen upgraded Tesla from a "hold" rating to a "buy" rating and lifted their target price for the company from $180.00 to $388.00 in a research report on Friday, March 7th. UBS Group lowered their target price on Tesla from $225.00 to $190.00 and set a "sell" rating on the stock in a research report on Thursday, April 10th. Cowen upgraded Tesla from a "hold" rating to a "buy" rating in a research report on Thursday, March 6th. Barclays lowered their target price on Tesla from $325.00 to $275.00 and set an "equal weight" rating on the stock in a research report on Monday, April 21st. Finally, Cantor Fitzgerald decreased their price target on Tesla from $425.00 to $355.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. Ten investment 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. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $293.67.

Tesla Trading Up 0.0%

NASDAQ TSLA traded up $0.11 during trading hours on Friday, hitting $322.16. 108,229,033 shares of the company were exchanged, compared to its average volume of 101,151,146. The stock has a 50-day moving average price of $306.22 and a 200 day moving average price of $331.96. 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, Inc. has a 52 week low of $182.00 and a 52 week high of $488.54. The stock has a market cap of $1.04 trillion, a PE ratio of 177.01, a price-to-earnings-growth ratio of 12.05 and a beta of 2.47.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share 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 company had revenue of $19.34 billion for the quarter, compared to the consensus estimate of $22.93 billion. During the same period in the previous year, the firm earned $0.45 earnings per share. Analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

About Tesla

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.