Kaizen Financial Strategies Sells 1,169 Shares of Tesla, Inc. (NASDAQ:TSLA)

Kaizen Financial Strategies reduced its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 9.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,744 shares of the electric vehicle producer's stock after selling 1,169 shares during the period. Tesla accounts for approximately 1.8% of Kaizen Financial Strategies' investment portfolio, making the stock its 14th biggest position. Kaizen Financial Strategies' holdings in Tesla were worth $3,044,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. True Wealth Design LLC lifted its position in Tesla by 79.5% during 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 during the period. Horrell Capital Management Inc. increased its position in Tesla by 75.6% during the 4th quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer's stock valued at $32,000 after purchasing an additional 34 shares during the period. GS Investments Inc. increased its position in Tesla by 193.3% during the 4th quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer's stock valued at $36,000 after purchasing an additional 58 shares during the period. Navigoe LLC acquired a new stake in Tesla during the 4th quarter valued at approximately $37,000. Finally, CoreFirst Bank & Trust bought a new position in shares of Tesla during the 4th quarter worth approximately $38,000. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on TSLA shares. JPMorgan Chase & Co. cut their price target on Tesla from $120.00 to $115.00 and set an "underweight" rating on the stock in a report on Wednesday, April 23rd. Wells Fargo & Company dropped their price objective on Tesla from $135.00 to $130.00 and set an "underweight" rating on the stock in a research note on Friday, March 14th. Royal Bank of Canada decreased their target price on Tesla from $314.00 to $307.00 and set an "outperform" rating for the company in a research report on Wednesday, April 23rd. UBS Group decreased their price objective on Tesla from $225.00 to $190.00 and set a "sell" rating for the company in a report on Thursday, April 10th. Finally, Truist Financial set a $280.00 price objective on Tesla in a report on Tuesday, April 22nd. Ten equities research analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Tesla presently has an average rating of "Hold" and a consensus target price of $293.97.

Tesla Price Performance

TSLA traded down $3.77 during midday trading on Monday, hitting $342.69. The stock had a trading volume of 81,499,066 shares, compared to its average volume of 98,086,870. The company has a market cap of $1.10 trillion, a P/E ratio of 167.99, a price-to-earnings-growth ratio of 5.86 and a beta of 2.43. Tesla, Inc. has a 1 year low of $167.41 and a 1 year high of $488.54. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. The business has a fifty day moving average of $286.92 and a 200 day moving average of $334.13.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share for the quarter, missing analysts' consensus estimates of $0.53 by ($0.26). The company had revenue of $19.34 billion for the quarter, compared to analysts' expectations of $22.93 billion. Tesla had a net margin of 7.26% and a return on equity of 10.31%. During the same period last year, the company posted $0.45 EPS. As a group, equities analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Activity at Tesla

In other news, Director Kimbal Musk sold 91,588 shares of the stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $357.39, for a total value of $32,732,635.32. Following the sale, the director now directly owns 1,463,220 shares of the company's stock, valued at approximately $522,940,195.80. This represents a 5.89% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director James R. Murdoch sold 54,776 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $240.79, for a total value of $13,189,513.04. Following the completion of the sale, the director now directly owns 477,011 shares in the company, valued at approximately $114,859,478.69. This represents a 10.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 866,393 shares of company stock worth $284,570,654 over the last quarter. 20.70% of the stock is owned by corporate insiders.

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.