Tesla, Inc. (NASDAQ:TSLA) Shares Sold by EdgeRock Capital LLC

EdgeRock Capital LLC lessened its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 47.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,822 shares of the electric vehicle producer's stock after selling 3,511 shares during the quarter. Tesla comprises 0.7% of EdgeRock Capital LLC's holdings, making the stock its 23rd largest position. EdgeRock Capital LLC's holdings in Tesla were worth $991,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. True Wealth Design LLC boosted its stake in Tesla by 79.5% during the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock worth $28,000 after buying an additional 31 shares during the last quarter. 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 valued at $32,000 after purchasing an additional 34 shares during the period. GS Investments Inc. increased its position in Tesla by 193.3% during the fourth quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer's stock worth $36,000 after purchasing an additional 58 shares during the last quarter. Navigoe LLC purchased a new position in Tesla during the fourth quarter worth about $37,000. Finally, CoreFirst Bank & Trust acquired a new position in Tesla in the 4th quarter valued at about $38,000. Institutional investors and hedge funds own 66.20% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on TSLA shares. Benchmark reaffirmed a "buy" rating and set a $350.00 price target on shares of Tesla in a research report on Wednesday, April 23rd. The Goldman Sachs Group reduced their target price on Tesla from $295.00 to $285.00 and set a "neutral" rating on the stock in a research report on Friday, June 6th. Raymond James cut Tesla to an "outperform" rating in a report on Tuesday, April 22nd. Glj Research restated a "sell" rating and issued a $19.05 price objective (down from $24.86) on shares of Tesla in a report on Monday, April 21st. Finally, Cfra Research cut shares of Tesla from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, April 22nd. Ten investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Tesla currently has a consensus rating of "Hold" and an average target price of $293.67.

Tesla Stock Down 0.3%

Shares of TSLA traded down $1.12 during midday trading on Thursday, reaching $325.31. The stock had a trading volume of 66,383,015 shares, compared to its average volume of 100,533,425. The company has a market cap of $1.05 trillion, a price-to-earnings ratio of 159.47, a PEG ratio of 5.86 and a beta of 2.47. The company's fifty day simple moving average is $295.60 and its two-hundred day simple moving average is $333.11. Tesla, Inc. has a 1-year low of $169.80 and a 1-year high of $488.54. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share for the quarter, missing analysts' consensus estimates of $0.53 by ($0.26). The business had revenue of $19.34 billion during the quarter, compared to analyst estimates of $22.93 billion. Tesla had a net margin of 7.26% and a return on equity of 10.31%. During the same quarter in the prior year, the business earned $0.45 earnings per share. Equities research analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Transactions at Tesla

In related news, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction on Monday, April 7th. The shares were sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the sale, the chief financial officer now directly owns 26,950 shares in the company, valued at $6,737,500. This trade represents a 12.92% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kimbal Musk sold 91,588 shares of the business's stock in a transaction on 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 now directly owns 1,463,220 shares of the company's stock, valued at approximately $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. In the last 90 days, insiders have sold 818,509 shares of company stock valued at $273,791,775. Corporate insiders own 20.70% of the company's stock.

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.