Lodestar Private Asset Management LLC Sells 5,048 Shares of Tesla, Inc. (NASDAQ:TSLA)

Lodestar Private Asset Management LLC reduced its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 58.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,561 shares of the electric vehicle producer's stock after selling 5,048 shares during the quarter. Lodestar Private Asset Management LLC's holdings in Tesla were worth $923,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Sage Advisors LLC bought a new position in Tesla in the 1st quarter valued at about $236,000. Smallwood Wealth Investment Management LLC bought a new position in Tesla in the 1st quarter valued at about $47,000. Keystone Financial Services LLC increased its holdings in Tesla by 160.5% in the 1st quarter. Keystone Financial Services LLC now owns 1,584 shares of the electric vehicle producer's stock valued at $411,000 after buying an additional 976 shares during the period. Libra Wealth LLC increased its holdings in Tesla by 3.9% in the 1st quarter. Libra Wealth LLC now owns 5,146 shares of the electric vehicle producer's stock valued at $1,334,000 after buying an additional 193 shares during the period. Finally, Beaton Management Co. Inc. increased its holdings in Tesla by 5.2% in the 1st quarter. Beaton Management Co. Inc. now owns 4,081 shares of the electric vehicle producer's stock valued at $1,058,000 after buying an additional 200 shares during the period. 66.20% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Cfra Research lowered shares of Tesla from a "moderate buy" rating to a "hold" rating in a report on Tuesday, April 22nd. Roth Mkm reduced their price target on shares of Tesla from $450.00 to $395.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. JPMorgan Chase & Co. reduced their price target on shares of Tesla from $120.00 to $115.00 and set an "underweight" rating on the stock in a research note on Wednesday, April 23rd. Stifel Nicolaus set a $450.00 price target on shares of Tesla and gave the company a "buy" rating in a research note on Thursday, April 24th. Finally, Glj Research restated a "sell" rating and issued a $19.05 price target (down from $24.86) on shares of Tesla in a research note on Monday, April 21st. Ten equities research 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 company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $298.37.

Tesla Stock Down 1.8%

TSLA stock opened at $317.66 on Tuesday. Tesla, Inc. has a twelve month low of $182.00 and a twelve month high of $488.54. The company has a quick ratio of 1.54, a current ratio of 2.00 and a debt-to-equity ratio of 0.07. The stock has a market cap of $1.02 trillion, a P/E ratio of 174.54, a PEG ratio of 12.20 and a beta of 2.47. The business's 50-day moving average price is $316.73 and its 200-day moving average price is $328.38.

Tesla (NASDAQ:TSLA - Get Free Report) last posted 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 return on equity of 9.02% and a net margin of 6.66%. The business had revenue of $19.34 billion during the quarter, compared to analysts' expectations of $22.93 billion. During the same period in the prior year, the firm posted $0.45 earnings per share. On average, equities research analysts forecast that Tesla, Inc. will post 2.56 EPS for the current year.

Insiders Place Their Bets

In other news, SVP Xiaotong Zhu sold 15,000 shares of the business's stock in a transaction that occurred 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 transaction, the senior vice president owned 67,600 shares of the company's stock, 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 the SEC website. Also, CFO Vaibhav Taneja sold 2,564 shares of the business's stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $285.71, for a total value of $732,560.44. Following the transaction, the chief financial officer directly owned 5,924 shares in the company, valued at approximately $1,692,546.04. This represents a 30.21% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 833,509 shares of company stock worth $278,648,925. 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.

Want to see what other hedge funds are holding TSLA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tesla, Inc. (NASDAQ:TSLA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.