Howard Capital Management Inc. cut its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 11.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 77,740 shares of the electric vehicle producer's stock after selling 9,934 shares during the quarter. Tesla comprises approximately 0.4% of Howard Capital Management Inc.'s investment portfolio, making the stock its 25th biggest holding. Howard Capital Management Inc.'s holdings in Tesla were worth $20,147,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. FMR LLC increased its stake in shares of Tesla by 40.1% in the 4th quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer's stock valued at $13,997,660,000 after purchasing an additional 9,920,325 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Tesla by 27,378.6% during the 1st quarter. GAMMA Investing LLC now owns 9,812,316 shares of the electric vehicle producer's stock worth $2,542,960,000 after buying an additional 9,776,607 shares during the period. Massachusetts Financial Services Co. MA grew its stake in Tesla by 4,963.0% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 5,834,707 shares of the electric vehicle producer's stock valued at $2,356,288,000 after acquiring an additional 5,719,466 shares during the period. Northern Trust Corp increased its holdings in Tesla by 21.6% in the 4th quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer's stock worth $11,541,592,000 after acquiring an additional 5,075,418 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in Tesla by 54.3% during the first quarter. Assenagon Asset Management S.A. now owns 8,464,765 shares of the electric vehicle producer's stock valued at $2,193,728,000 after purchasing an additional 2,978,026 shares in the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several research analysts recently weighed in on TSLA shares. Needham & Company LLC restated a "hold" rating on shares of Tesla in a research report on Thursday, July 24th. Piper Sandler reaffirmed an "overweight" rating and issued a $400.00 price target on shares of Tesla in a research note on Tuesday, June 10th. William Blair downgraded Tesla from an "outperform" rating to a "market perform" rating in a research note on Monday, July 7th. Cfra Research lowered shares of Tesla from a "moderate buy" rating to a "hold" rating in a report on Tuesday, April 22nd. Finally, Guggenheim restated a "sell" rating and set a $175.00 price target on shares of Tesla in a research report on Wednesday, July 23rd. Ten analysts have rated the stock with a sell rating, fifteen have issued a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $303.31.
Read Our Latest Stock Analysis on TSLA
Insider Buying and Selling
In related news, Director Ira Matthew Ehrenpreis sold 477,572 shares of Tesla stock in a transaction that occurred 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 completion of the transaction, the director owned 855,394 shares in the company, valued at $305,632,276.20. The trade was a 35.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kimbal Musk sold 91,588 shares of the firm's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $357.39, for a total transaction of $32,732,635.32. Following the completion of the sale, the director owned 1,463,220 shares in the company, valued at $522,940,195.80. The trade was a 5.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 723,119 shares of company stock worth $247,324,149 in the last quarter. Company insiders own 20.70% of the company's stock.
Tesla Stock Down 0.7%
Shares of TSLA traded down $2.16 during mid-day trading on Wednesday, hitting $319.04. 83,592,884 shares of the company's stock were exchanged, compared to its average volume of 92,156,024. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04. The company has a market cap of $1.03 trillion, a price-to-earnings ratio of 184.42, a P/E/G ratio of 11.28 and a beta of 2.39. The stock's 50-day moving average is $323.61 and its 200-day moving average is $313.14. Tesla, Inc. has a fifty-two week low of $182.00 and a fifty-two week high of $488.54.
Tesla (NASDAQ:TSLA - Get Free Report) last released its earnings results 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). Tesla had a return on equity of 7.98% and a net margin of 6.54%. The business had revenue of $22.50 billion for the quarter, compared to analyst estimates of $23.18 billion. During the same quarter last year, the company earned $0.52 earnings per share. Tesla's quarterly revenue was down 11.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.
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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