Forum Financial Management LP Sells 7,072 Shares of Tesla, Inc. (NASDAQ:TSLA)

Forum Financial Management LP decreased its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 25.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,782 shares of the electric vehicle producer's stock after selling 7,072 shares during the quarter. Forum Financial Management LP's holdings in Tesla were worth $5,386,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in TSLA. Cherry Tree Wealth Management LLC increased its position in Tesla by 86.3% during the 1st quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock worth $25,000 after buying an additional 44 shares during the period. First PREMIER Bank increased its position in Tesla by 79.2% during the 1st quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock worth $25,000 after buying an additional 42 shares during the period. Newton One Investments LLC increased its position in Tesla by 250.0% during the 1st quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock worth $27,000 after buying an additional 75 shares during the period. Arcadia Investment Management Corp MI bought a new position in Tesla during the 1st quarter worth $27,000. Finally, True Wealth Design LLC increased its position in Tesla by 79.5% during the 4th 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 period. Institutional investors and hedge funds own 66.20% of the company's stock.

Tesla Stock Performance

Shares of NASDAQ TSLA traded up $10.24 during trading on Friday, reaching $329.65. 93,904,102 shares of the stock traded hands, compared to its average volume of 98,931,734. Tesla, Inc. has a 52-week low of $182.00 and a 52-week high of $488.54. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.00 and a quick ratio of 1.54. The company has a 50-day moving average of $325.64 and a 200-day moving average of $317.81. The stock has a market capitalization of $1.06 trillion, a P/E ratio of 181.13, a price-to-earnings-growth ratio of 9.80 and a beta of 2.39.

Tesla (NASDAQ:TSLA - Get Free Report) last issued 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 net margin of 6.66% and a return on equity of 9.02%. 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 company earned $0.45 EPS. Analysts forecast that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Buying and Selling

In related news, SVP Xiaotong Zhu sold 15,000 shares of the business's stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $323.81, for a total transaction of $4,857,150.00. Following the sale, the senior vice president directly owned 67,600 shares in the company, valued at approximately $21,889,556. The trade was a 18.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of the business's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $357.30, for a total value of $170,636,475.60. Following the sale, the director owned 855,394 shares in the company, valued at approximately $305,632,276.20. The trade was a 35.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 835,509 shares of company stock valued at $279,420,485. 20.70% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms have weighed in on TSLA. Royal Bank Of Canada lowered their price objective on Tesla from $314.00 to $307.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 23rd. Robert W. Baird restated a "neutral" rating and issued a $320.00 price target on shares of Tesla in a research report on Monday, June 9th. Wedbush restated an "outperform" rating and issued a $500.00 price target on shares of Tesla in a research report on Tuesday, July 8th. Cfra Research lowered Tesla from a "moderate buy" rating to a "hold" rating in a research note on Tuesday, April 22nd. Finally, BNP Paribas set a $137.00 price objective on Tesla and gave the company an "underperform" rating in a research note on Wednesday, April 16th. Ten analysts have rated the stock with a sell rating, fourteen have given a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $300.19.

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.