Moors & Cabot Inc. Has $10.06 Million Holdings in Tesla, Inc. (NASDAQ:TSLA)

Key Points

• Moors & Cabot Inc. has decreased its stock position in Tesla, Inc. by 3.5%, now holding 38,815 shares valued at approximately $10.06 million.
• Several other investors have adjusted their positions, with Susquehanna Fundamental Investments LLC acquiring a new stake valued at about $56.6 million and Means Investment CO. Inc. increasing its stake by 37.7%.
• Analysts' sentiment is mixed, with a consensus rating of "Hold" and a target price of $303.31, while ten analysts issued a sell rating on Tesla stock.

Moors & Cabot Inc. lowered its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 3.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 38,815 shares of the electric vehicle producer's stock after selling 1,423 shares during the quarter. Moors & Cabot Inc.'s holdings in Tesla were worth $10,059,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. Rinkey Investments grew its holdings in Tesla by 3.5% during the fourth quarter. Rinkey Investments now owns 860 shares of the electric vehicle producer's stock valued at $347,000 after purchasing an additional 29 shares during the period. True Wealth Design LLC boosted its holdings 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 valued at $28,000 after buying an additional 31 shares during the period. Aldebaran Financial Inc. boosted its holdings in shares of Tesla by 3.1% in the fourth quarter. Aldebaran Financial Inc. now owns 1,174 shares of the electric vehicle producer's stock valued at $490,000 after buying an additional 35 shares during the period. Acorn Wealth Advisors LLC boosted its holdings in shares of Tesla by 1.9% in the first quarter. Acorn Wealth Advisors LLC now owns 1,901 shares of the electric vehicle producer's stock valued at $493,000 after buying an additional 36 shares during the period. Finally, Capital Management Associates Inc boosted its holdings in shares of Tesla by 3.4% in the first quarter. Capital Management Associates Inc now owns 1,166 shares of the electric vehicle producer's stock valued at $302,000 after buying an additional 38 shares during the period. Institutional investors and hedge funds own 66.20% of the company's stock.

Tesla Stock Performance

Shares of TSLA traded down $5.64 during trading hours on Friday, hitting $302.63. The company had a trading volume of 88,785,612 shares, compared to its average volume of 91,739,856. The firm has a market cap of $976.12 billion, a price-to-earnings ratio of 174.93, a PEG ratio of 10.83 and a beta of 2.33. The business has a fifty day moving average of $322.22 and a 200-day moving average of $311.84. Tesla, Inc. has a 12 month low of $182.00 and a 12 month high of $488.54. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07.

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 for the quarter, missing the consensus estimate of $0.43 by ($0.03). The company had revenue of $22.50 billion during 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%. Tesla's revenue for the quarter was down 11.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.52 earnings per share. Equities analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Kimbal Musk sold 91,588 shares of the stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $357.39, for a total value of $32,732,635.32. Following the transaction, the director directly owned 1,463,220 shares of the company's stock, valued at $522,940,195.80. This represents a 5.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of the stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $357.30, for a total transaction of $170,636,475.60. Following the completion of the transaction, the director directly 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 disclosure for this sale can be found here. Over the last three months, insiders sold 719,119 shares of company stock valued at $246,186,549. 20.70% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on TSLA. Baird R W cut shares of Tesla from a "strong-buy" rating to a "hold" rating in a report on Monday, June 9th. Royal Bank Of Canada reiterated an "overweight" rating on shares of Tesla in a report on Tuesday. Glj Research reiterated a "sell" rating on shares of Tesla in a report on Thursday, July 24th. Needham & Company LLC reiterated a "hold" rating on shares of Tesla in a report on Thursday, July 24th. Finally, Daiwa Capital Markets reissued a "neutral" rating on shares of Tesla in a research report on Sunday, July 27th. Ten analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $303.31.

Tesla 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.