MV Capital Management Inc. Decreases Stock Position in Tesla, Inc. (NASDAQ:TSLA)

MV Capital Management Inc. decreased its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 39.0% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,080 shares of the electric vehicle producer's stock after selling 1,330 shares during the period. MV Capital Management Inc.'s holdings in Tesla were worth $539,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in Tesla during the fourth quarter worth $14,420,248,000. FMR LLC grew its stake in shares of Tesla by 40.1% during the fourth quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer's stock worth $13,997,660,000 after purchasing an additional 9,920,325 shares in the last quarter. GAMMA Investing LLC raised its stake in Tesla by 27,378.6% in the first quarter. GAMMA Investing LLC now owns 9,812,316 shares of the electric vehicle producer's stock valued at $2,542,960,000 after buying an additional 9,776,607 shares in the last quarter. Strategic Financial Concepts LLC lifted its holdings in Tesla by 36,790.0% during the 4th quarter. Strategic Financial Concepts LLC now owns 8,660,672 shares of the electric vehicle producer's stock worth $3,497,526,000 after buying an additional 8,637,195 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its position in shares of Tesla by 4,963.0% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 5,834,707 shares of the electric vehicle producer's stock worth $2,356,288,000 after acquiring an additional 5,719,466 shares in the last quarter. Institutional investors own 66.20% of the company's stock.

Tesla Price Performance

Shares of NASDAQ TSLA traded down $0.93 during trading on Thursday, reaching $325.50. The company had a trading volume of 60,210,880 shares, compared to its average volume of 100,514,169. The business's 50 day moving average price is $295.60 and its 200-day moving average price is $333.11. 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 stock has a market cap of $1.05 trillion, a PE ratio of 159.56, a PEG ratio of 5.86 and a beta of 2.47. Tesla, Inc. has a 52 week low of $169.80 and a 52 week high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.26). The firm had revenue of $19.34 billion during the quarter, compared to the consensus estimate of $22.93 billion. Tesla had a net margin of 7.26% and a return on equity of 10.31%. During the same period in the previous year, the company posted $0.45 EPS. Analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Joseph Gebbia bought 4,000 shares of the company's stock in a transaction on Thursday, April 24th. The stock was purchased at an average cost of $256.31 per share, for a total transaction of $1,025,240.00. Following the completion of the transaction, the director now owns 4,111 shares of the company's stock, valued at $1,053,690.41. This trade represents a 3,603.60% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Vaibhav Taneja sold 3,000 shares of the company's stock in a transaction on Friday, May 16th. The shares were sold at an average price of $350.11, for a total transaction of $1,050,330.00. Following the completion of the sale, the chief financial officer now directly owns 26,950 shares in the company, valued at approximately $9,435,464.50. This represents a 10.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 818,509 shares of company stock worth $273,791,775 in the last 90 days. Company insiders own 20.70% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on TSLA shares. Morgan Stanley restated an "overweight" rating and issued a $410.00 target price on shares of Tesla in a research note on Friday, June 6th. HSBC reduced their price target on Tesla from $165.00 to $130.00 and set a "reduce" rating on the stock in a research report on Thursday, March 27th. Needham & Company LLC reissued a "hold" rating on shares of Tesla in a report on Wednesday, April 23rd. Barclays dropped their price target on shares of Tesla from $325.00 to $275.00 and set an "equal weight" rating on the stock in a research report on Monday, April 21st. Finally, Piper Sandler restated an "overweight" rating and set a $400.00 price target on shares of Tesla in a report on Tuesday. Ten investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $293.67.

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.