DDD Partners LLC Lowers Holdings in Tesla, Inc. (NASDAQ:TSLA)

DDD Partners LLC decreased its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 26.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,134 shares of the electric vehicle producer's stock after selling 1,852 shares during the quarter. DDD Partners LLC's holdings in Tesla were worth $1,331,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of TSLA. Norges Bank acquired a new position in Tesla during the fourth quarter worth approximately $14,420,248,000. FMR LLC increased its position in Tesla by 40.1% during the fourth quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer's stock worth $13,997,660,000 after buying an additional 9,920,325 shares during the last quarter. GAMMA Investing LLC increased its position in Tesla by 27,378.6% during 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. Massachusetts Financial Services Co. MA increased its position in Tesla by 4,963.0% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,834,707 shares of the electric vehicle producer's stock worth $2,356,288,000 after buying an additional 5,719,466 shares during the last quarter. Finally, Northern Trust Corp grew its position 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 valued at $11,541,592,000 after purchasing an additional 5,075,418 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company's stock.

Tesla Price Performance

Shares of NASDAQ:TSLA traded up $8.65 on Friday, reaching $328.06. The company's stock had a trading volume of 48,937,174 shares, compared to its average volume of 98,758,434. Tesla, Inc. has a 52-week low of $182.00 and a 52-week high of $488.54. The company has a market cap of $1.06 trillion, a P/E ratio of 180.41, a PEG ratio of 9.80 and a beta of 2.39. The company has a 50-day simple moving average of $325.64 and a 200 day simple moving average of $317.81. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.54 and a current ratio of 2.00.

Tesla (NASDAQ:TSLA - Get Free Report) last released 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 return on equity of 9.02% and a net margin of 6.66%. The firm had revenue of $19.34 billion for the quarter, compared to analysts' expectations of $22.93 billion. During the same period in the prior year, the firm posted $0.45 earnings per share. As a group, equities research analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Benchmark reiterated a "buy" rating and issued a $475.00 price target (up from $350.00) on shares of Tesla in a research note on Thursday, June 26th. Piper Sandler restated an "overweight" rating and set a $400.00 target price on shares of Tesla in a research note on Tuesday, June 10th. Cfra Research cut Tesla from a "moderate buy" rating to a "hold" rating in a research note on Tuesday, April 22nd. Argus restated a "hold" rating on shares of Tesla in a research note on Monday, June 9th. Finally, Cantor Fitzgerald lowered their price target on shares of Tesla from $425.00 to $355.00 and set an "overweight" rating for the company in a report on Wednesday, April 23rd. Ten research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $300.19.

Insider Activity at Tesla

In related news, CFO Vaibhav Taneja sold 2,000 shares of the business's stock in a transaction on Tuesday, July 8th. The shares were sold at an average price of $300.00, for a total value of $600,000.00. Following the completion of the transaction, the chief financial officer directly owned 5,924 shares in the company, valued at $1,777,200. The trade was a 25.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Kimbal Musk sold 91,588 shares of the stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $357.39, for a total transaction of $32,732,635.32. Following the completion of the sale, the director owned 1,463,220 shares of the company's stock, valued at $522,940,195.80. This trade represents a 5.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 835,509 shares of company stock worth $279,420,485. Corporate insiders own 20.70% of the company's stock.

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.