First Heartland Consultants Inc. Has $1.45 Million Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Key Points

• First Heartland Consultants Inc. reduced its stake in Tesla by 20%, selling 1,393 shares to hold a total of 5,588 shares valued at approximately $1.45 million.
• Several institutional investors increased their stakes in Tesla, with Stevens Capital Management LP making the largest increase of 2,346.9% to 91,955 shares valued at $23.83 million.
• Tesla's stock performance includes a current price of $305.30, a market cap of $983.36 billion, and a reported earnings miss, posting $0.40 EPS against an expected $0.43.

First Heartland Consultants Inc. trimmed its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 20.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,588 shares of the electric vehicle producer's stock after selling 1,393 shares during the period. First Heartland Consultants Inc.'s holdings in Tesla were worth $1,448,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of TSLA. Susquehanna Fundamental Investments LLC purchased a new position in Tesla in the fourth quarter valued at $56,600,000. Means Investment CO. Inc. increased its stake in shares of Tesla by 37.7% during the first quarter. Means Investment CO. Inc. now owns 23,089 shares of the electric vehicle producer's stock worth $5,984,000 after purchasing an additional 6,323 shares in the last quarter. Focus Financial Network Inc. grew its stake in Tesla by 3.1% during the 1st quarter. Focus Financial Network Inc. now owns 22,467 shares of the electric vehicle producer's stock valued at $5,823,000 after acquiring an additional 670 shares in the last quarter. IFM Investors Pty Ltd grew its stake in Tesla by 8.5% during the 1st quarter. IFM Investors Pty Ltd now owns 586,460 shares of the electric vehicle producer's stock valued at $153,436,000 after acquiring an additional 46,087 shares in the last quarter. Finally, Harvard Management Co. Inc. acquired a new position in Tesla in the 4th quarter valued at about $8,158,000. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Tesla

In related news, SVP Xiaotong Zhu sold 15,000 shares of the firm's stock in a transaction that occurred on 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 transaction, the senior vice president owned 67,600 shares of the company's stock, valued at approximately $21,889,556. This trade represents a 18.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of the firm's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $357.30, for a total transaction of $170,636,475.60. Following the transaction, the director directly owned 855,394 shares in the company, valued at approximately $305,632,276.20. The trade was a 35.83% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 835,509 shares of company stock valued at $279,420,485. 20.70% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms have weighed in on TSLA. China Renaissance reiterated a "hold" rating and issued a $349.00 target price on shares of Tesla in a report on Friday. Bank of America boosted their target price on shares of Tesla from $305.00 to $341.00 and gave the company a "neutral" rating in a report on Monday. Royal Bank Of Canada decreased their price objective on shares of Tesla from $314.00 to $307.00 and set an "outperform" rating on the stock in a report on Wednesday, April 23rd. Baird R W lowered shares of Tesla from a "strong-buy" rating to a "hold" rating in a report on Monday, June 9th. Finally, Glj Research restated a "sell" rating on shares of Tesla in a report on Thursday. Ten equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $302.75.

Tesla Trading Up 3.5%

Shares of TSLA traded up $10.76 during midday trading on Friday, hitting $316.06. The stock had a trading volume of 147,437,834 shares, compared to its average volume of 90,285,424. Tesla, Inc. has a fifty-two week low of $182.00 and a fifty-two week high of $488.54. The business has a 50-day simple moving average of $324.70 and a two-hundred day simple moving average of $314.65. The firm has a market cap of $1.02 trillion, a P/E ratio of 182.69, a price-to-earnings-growth ratio of 11.59 and a beta of 2.39. The company has a current ratio of 2.04, a quick ratio of 1.54 and a debt-to-equity ratio of 0.07.

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