Global Trust Asset Management LLC Reduces Position in Tesla, Inc. (NASDAQ:TSLA)

Global Trust Asset Management LLC trimmed its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 59.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,710 shares of the electric vehicle producer's stock after selling 2,490 shares during the period. Global Trust Asset Management LLC's holdings in Tesla were worth $443,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Bell Bank boosted its stake in shares of Tesla by 9.2% in the 1st quarter. Bell Bank now owns 14,956 shares of the electric vehicle producer's stock worth $3,876,000 after buying an additional 1,263 shares during the last quarter. PKO Investment Management Joint Stock Co boosted its stake in shares of Tesla by 117.5% in the 1st quarter. PKO Investment Management Joint Stock Co now owns 58,300 shares of the electric vehicle producer's stock worth $15,109,000 after buying an additional 31,500 shares during the last quarter. Insigneo Advisory Services LLC boosted its stake in shares of Tesla by 25.1% in the 1st quarter. Insigneo Advisory Services LLC now owns 45,756 shares of the electric vehicle producer's stock worth $11,858,000 after buying an additional 9,167 shares during the last quarter. Demars Financial Group LLC purchased a new position in shares of Tesla in the 1st quarter worth $61,988,000. Finally, Pacific Capital Wealth Advisors Inc. boosted its stake in shares of Tesla by 7.1% in the 1st quarter. Pacific Capital Wealth Advisors Inc. now owns 4,082 shares of the electric vehicle producer's stock worth $1,058,000 after buying an additional 269 shares during the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on TSLA shares. JPMorgan Chase & Co. decreased their target price on Tesla from $120.00 to $115.00 and set an "underweight" rating on the stock in a report on Wednesday, April 23rd. Robert W. Baird reissued a "neutral" rating and set a $320.00 price target on shares of Tesla in a report on Monday, June 9th. Guggenheim reaffirmed a "sell" rating on shares of Tesla in a report on Friday, June 13th. Stifel Nicolaus set a $450.00 target price on Tesla and gave the stock a "buy" rating in a report on Thursday, April 24th. Finally, Cfra Research lowered 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 stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $293.67.

Tesla Stock Up 1.8%

NASDAQ:TSLA traded up $5.70 during trading hours on Thursday, reaching $322.05. The company's stock had a trading volume of 94,677,402 shares, compared to its average volume of 100,787,054. The company has a market capitalization of $1.04 trillion, a P/E ratio of 176.95, a price-to-earnings-growth ratio of 12.04 and a beta of 2.47. Tesla, Inc. has a 12 month low of $179.66 and a 12 month high of $488.54. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.54 and a current ratio of 2.00. The stock has a 50 day moving average price of $304.81 and a two-hundred day moving average price of $332.35.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its quarterly earnings data 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). The business had revenue of $19.34 billion during the quarter, compared to the consensus estimate of $22.93 billion. Tesla had a return on equity of 9.02% and a net margin of 6.66%. During the same period last year, the firm earned $0.45 EPS. Equities analysts predict that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Transactions at Tesla

In other news, CFO Vaibhav Taneja sold 4,000 shares of the company's stock in a transaction on Monday, April 7th. The stock was sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the transaction, the chief financial officer now directly owns 26,950 shares of the company's stock, valued at approximately $6,737,500. This represents a 12.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Xiaotong Zhu sold 15,000 shares of the company's stock in a transaction on 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 transaction, the senior vice president now directly owns 67,600 shares in the company, valued at approximately $21,889,556. The trade was a 18.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 833,509 shares of company stock valued at $278,648,925. Corporate insiders own 20.70% of the company's stock.

Tesla Company Profile

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.