GKV Capital Management Co. Inc. Has $134,000 Stock Position in Tesla, Inc. (NASDAQ:TSLA)

GKV Capital Management Co. Inc. trimmed its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 67.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 517 shares of the electric vehicle producer's stock after selling 1,083 shares during the quarter. GKV Capital Management Co. Inc.'s holdings in Tesla were worth $134,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in TSLA. Cherry Tree Wealth Management LLC boosted its holdings in shares of Tesla by 86.3% in the first 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 lifted its position 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 in the last quarter. Newton One Investments LLC lifted its position 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 in the last quarter. Arcadia Investment Management Corp MI purchased a new stake in shares of Tesla in the first quarter worth approximately $27,000. Finally, True Wealth Design LLC lifted its position 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 in the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

TSLA has been the subject of a number of research analyst reports. Barclays reduced their price target on shares of Tesla from $325.00 to $275.00 and set an "equal weight" rating for the company in a research report on Monday, April 21st. Mizuho reduced their price target on shares of Tesla from $390.00 to $375.00 and set an "outperform" rating for the company in a research report on Tuesday, July 8th. Truist Financial set a $280.00 price target on shares of Tesla in a research report on Tuesday, April 22nd. Wedbush reissued an "outperform" rating and issued a $500.00 price target on shares of Tesla in a research report on Monday, August 4th. Finally, Stifel Nicolaus set a $450.00 price objective on shares of Tesla and gave the company a "buy" rating in a research report on Thursday, April 24th. Ten equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $303.31.

Insiders Place Their Bets

In related news, SVP Xiaotong Zhu sold 15,000 shares of Tesla stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $323.81, for a total value of $4,857,150.00. Following the completion of the transaction, the senior vice president directly owned 67,600 shares of the company's stock, valued at $21,889,556. The trade was a 18.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Vaibhav Taneja sold 6,000 shares of Tesla stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $341.02, for a total value of $2,046,120.00. Following the completion of the transaction, the chief financial officer directly owned 1,950 shares of the company's stock, valued at $664,989. This represents a 75.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 602,724 shares of company stock valued at $214,176,831. 20.70% of the stock is owned by corporate insiders.

Tesla Stock Up 0.5%

Shares of NASDAQ TSLA opened at $340.84 on Wednesday. The stock has a market cap of $1.10 trillion, a PE ratio of 197.02, a PEG ratio of 11.79 and a beta of 2.33. The business has a fifty day moving average of $318.54 and a two-hundred day moving average of $306.48. Tesla, Inc. has a 52-week low of $197.06 and a 52-week high of $488.54. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04.

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

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