Flagship Harbor Advisors LLC trimmed its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 9.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 39,435 shares of the electric vehicle producer's stock after selling 3,899 shares during the quarter. Flagship Harbor Advisors LLC's holdings in Tesla were worth $10,220,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Encompass Wealth Advisors LLC raised its stake in shares of Tesla by 35.5% during the 1st quarter. Encompass Wealth Advisors LLC now owns 1,954 shares of the electric vehicle producer's stock valued at $506,000 after purchasing an additional 512 shares during the period. Friday Financial raised its stake in shares of Tesla by 116.8% during the 1st quarter. Friday Financial now owns 3,662 shares of the electric vehicle producer's stock valued at $1,035,000 after purchasing an additional 1,973 shares during the period. Pennsylvania Capital Management Inc. ADV raised its stake in shares of Tesla by 198.3% during the 1st quarter. Pennsylvania Capital Management Inc. ADV now owns 6,660 shares of the electric vehicle producer's stock valued at $1,726,000 after purchasing an additional 4,427 shares during the period. Hudson Value Partners LLC raised its stake in shares of Tesla by 324.5% during the 1st quarter. Hudson Value Partners LLC now owns 2,475 shares of the electric vehicle producer's stock valued at $642,000 after purchasing an additional 1,892 shares during the period. Finally, Ridgecrest Wealth Partners LLC raised its stake in shares of Tesla by 12.4% during the 1st quarter. Ridgecrest Wealth Partners LLC now owns 5,081 shares of the electric vehicle producer's stock valued at $1,317,000 after purchasing an additional 562 shares during the period. 66.20% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of equities analysts have weighed in on TSLA shares. Barclays decreased their target price on Tesla from $325.00 to $275.00 and set an "equal weight" rating on the stock in a research note on Monday, April 21st. Argus restated a "hold" rating on shares of Tesla in a research note on Monday, June 9th. BNP Paribas set a $137.00 target price on Tesla and gave the stock an "underperform" rating in a research note on Wednesday, April 16th. Wedbush restated an "outperform" rating and issued a $500.00 target price on shares of Tesla in a research note on Friday. Finally, Wells Fargo & Company decreased their target price on Tesla from $135.00 to $130.00 and set an "underweight" rating on the stock in a research note on Friday, March 14th. Ten equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Tesla currently has an average rating of "Hold" and a consensus target price of $293.67.
View Our Latest Stock Report on Tesla
Tesla Trading Up 0.0%
Shares of TSLA stock opened at $322.16 on Monday. The stock has a market capitalization of $1.04 trillion, a PE ratio of 177.01, a P/E/G ratio of 12.05 and a beta of 2.47. Tesla, Inc. has a 1-year low of $182.00 and a 1-year high of $488.54. The business has a 50-day moving average of $306.22 and a 200 day moving average of $331.70. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.00 and a quick ratio of 1.54.
Tesla (NASDAQ:TSLA - Get Free Report) last issued its 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). Tesla had a net margin of 6.66% and a return on equity of 9.02%. The company had revenue of $19.34 billion for the quarter, compared to analysts' expectations of $22.93 billion. During the same quarter in the prior year, the company earned $0.45 earnings per share. As a group, sell-side analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current year.
Insiders Place Their Bets
In other Tesla news, Director Ira Matthew Ehrenpreis sold 477,572 shares of the stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $357.30, for a total value of $170,636,475.60. Following the completion of the sale, the director now owns 855,394 shares in the company, valued at approximately $305,632,276.20. This trade represents a 35.83% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $250.00, for a total value of $1,000,000.00. Following the completion of the sale, the chief financial officer now owns 26,950 shares of the company's stock, valued at approximately $6,737,500. This trade represents a 12.92% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 833,509 shares of company stock worth $278,648,925. 20.70% of the stock is currently owned by company insiders.
About Tesla
(
Free Report)
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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Want to see what other hedge funds are holding TSLA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tesla, Inc. (NASDAQ:TSLA - Free Report).
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