Mutual of America Capital Management LLC Decreases Stake in Tesla, Inc. (NASDAQ:TSLA)

Mutual of America Capital Management LLC cut its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 2.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 325,636 shares of the electric vehicle producer's stock after selling 9,117 shares during the period. Tesla comprises about 1.0% of Mutual of America Capital Management LLC's investment portfolio, making the stock its 12th largest position. Mutual of America Capital Management LLC's holdings in Tesla were worth $84,392,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. True Wealth Design LLC lifted its stake in Tesla by 79.5% in the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock worth $28,000 after acquiring an additional 31 shares during the period. Horrell Capital Management Inc. lifted its position in shares of Tesla by 75.6% during the fourth quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer's stock valued at $32,000 after buying an additional 34 shares during the last quarter. GS Investments Inc. lifted its position in shares of Tesla by 193.3% during the fourth quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer's stock valued at $36,000 after buying an additional 58 shares during the last quarter. Navigoe LLC purchased a new stake in shares of Tesla during the fourth quarter valued at about $37,000. Finally, CoreFirst Bank & Trust purchased a new stake in shares of Tesla during the fourth quarter valued at about $38,000. 66.20% of the stock is currently owned by institutional investors.

Tesla Stock Up 1.2%

Shares of NASDAQ:TSLA traded up $3.64 during trading on Friday, hitting $313.51. 78,861,329 shares of the company were exchanged, compared to its average volume of 99,596,575. The stock has a market capitalization of $1.01 trillion, a P/E ratio of 172.26, a PEG ratio of 9.33 and a beta of 2.39. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.00 and a quick ratio of 1.54. Tesla, Inc. has a 12-month low of $182.00 and a 12-month high of $488.54. The firm's 50 day moving average price is $322.60 and its 200-day moving average price is $320.26.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its 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). The business had revenue of $19.34 billion during the quarter, compared to analyst estimates of $22.93 billion. Tesla had a net margin of 6.66% and a return on equity of 9.02%. During the same period in the previous year, the firm earned $0.45 earnings per share. On average, research analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

TSLA has been the subject of several research analyst reports. BNP Paribas set a $137.00 price objective on shares of Tesla and gave the company an "underperform" rating in a research report on Wednesday, April 16th. The Goldman Sachs Group cut their price target on shares of Tesla from $315.00 to $285.00 and set a "neutral" rating on the stock in a report on Friday. Needham & Company LLC reaffirmed a "hold" rating on shares of Tesla in a research note on Wednesday, April 23rd. Deutsche Bank Aktiengesellschaft decreased their target price on Tesla from $420.00 to $345.00 and set a "buy" rating on the stock in a research report on Friday, March 28th. Finally, Wedbush restated an "outperform" rating and issued a $500.00 price objective on shares of Tesla in a report on Tuesday, July 8th. Ten equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $300.19.

Insiders Place Their Bets

In other Tesla news, Director Ira Matthew Ehrenpreis sold 477,572 shares of the business's stock in a transaction 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 transaction, the director directly owned 855,394 shares of the company's stock, valued at approximately $305,632,276.20. The trade was a 35.83% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Kimbal Musk sold 91,588 shares of the business'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 transaction, the director directly owned 1,463,220 shares in the company, valued at $522,940,195.80. This represents a 5.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 835,509 shares of company stock worth $279,420,485. Corporate insiders own 20.70% of the company's stock.

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.