Eagle Strategies LLC Lowers Position in Tesla, Inc. (NASDAQ:TSLA)

Eagle Strategies LLC decreased its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 13.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,794 shares of the electric vehicle producer's stock after selling 914 shares during the quarter. Eagle Strategies LLC's holdings in Tesla were worth $1,502,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of TSLA. Cherry Tree Wealth Management LLC raised its stake in Tesla by 86.3% during the first quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after purchasing an additional 44 shares in the last quarter. First PREMIER Bank grew its holdings in shares of Tesla by 79.2% in the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock worth $25,000 after purchasing an additional 42 shares during the last quarter. Newton One Investments LLC grew its holdings in shares of Tesla by 250.0% in the first quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock worth $27,000 after purchasing an additional 75 shares during the last quarter. True Wealth Design LLC grew its holdings in shares of Tesla by 79.5% in 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 during the last quarter. Finally, Horrell Capital Management Inc. grew its holdings in shares of Tesla by 75.6% in the fourth quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer's stock worth $32,000 after purchasing an additional 34 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company's stock.

Insider Activity

In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of the company's stock in a transaction dated Monday, April 7th. The shares were 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 owns 26,950 shares of the company's stock, valued at $6,737,500. This represents a 12.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Xiaotong Zhu sold 15,000 shares of the company's stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $323.81, for a total transaction of $4,857,150.00. Following the completion of the transaction, the senior vice president now directly owns 67,600 shares in the company, valued at $21,889,556. The trade was a 18.16% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 833,509 shares of company stock valued at $278,648,925. 20.70% of the stock is currently owned by insiders.

Tesla Trading Up 8.2%

Shares of TSLA stock opened at $348.68 on Tuesday. The company's 50-day moving average price is $308.14 and its 200-day moving average price is $331.42. The company has a current ratio of 2.00, a quick ratio of 1.54 and a debt-to-equity ratio of 0.07. The stock has a market cap of $1.12 trillion, a price-to-earnings ratio of 191.58, a PEG ratio of 12.05 and a beta of 2.47. Tesla, Inc. has a twelve month low of $182.00 and a twelve month high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its quarterly earnings results 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). The firm had revenue of $19.34 billion for the quarter, compared to analyst estimates of $22.93 billion. Tesla had a net margin of 6.66% and a return on equity of 9.02%. During the same period in the previous year, the firm posted $0.45 EPS. As a group, equities analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have issued reports on TSLA shares. BNP Paribas set a $137.00 target price on shares of Tesla and gave the stock an "underperform" rating in a report on Wednesday, April 16th. Cfra Research cut shares of Tesla from a "moderate buy" rating to a "hold" rating in a report on Tuesday, April 22nd. The Goldman Sachs Group reiterated a "neutral" rating on shares of Tesla in a report on Friday. Raymond James Financial cut shares of Tesla to an "outperform" rating in a report on Tuesday, April 22nd. Finally, Needham & Company LLC restated a "hold" rating on shares of Tesla in a report on Wednesday, April 23rd. Ten analysts have rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $294.58.

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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