Navalign LLC Sells 849 Shares of Tesla, Inc. (NASDAQ:TSLA)

Navalign LLC lowered its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 44.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,073 shares of the electric vehicle producer's stock after selling 849 shares during the period. Navalign LLC's holdings in Tesla were worth $433,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. True Wealth Design LLC increased its holdings in shares of Tesla by 79.5% during the 4th quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock worth $28,000 after buying an additional 31 shares during the last quarter. Horrell Capital Management Inc. grew its stake 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 acquiring an additional 34 shares in the last quarter. GS Investments Inc. grew its stake 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 in the last quarter. Navigoe LLC bought a new stake in shares of Tesla in the fourth quarter worth $37,000. Finally, CoreFirst Bank & Trust bought a new stake in shares of Tesla in the 4th quarter worth about $38,000. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

TSLA has been the topic of several research analyst reports. Wedbush restated an "outperform" rating and set a $500.00 price objective (up from $350.00) on shares of Tesla in a research note on Friday. Canaccord Genuity Group dropped their price target on shares of Tesla from $404.00 to $303.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. Morgan Stanley restated a "buy" rating and set a $430.00 price objective on shares of Tesla in a research note on Tuesday, April 22nd. TD Cowen raised Tesla from a "hold" rating to a "buy" rating and boosted their target price for the stock from $180.00 to $388.00 in a report on Friday, March 7th. Finally, Wall Street Zen lowered Tesla from a "hold" rating to a "sell" rating in a research note on Friday, January 31st. Ten equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $293.97.

Insiders Place Their Bets

In other Tesla news, Director Robyn M. Denholm sold 112,395 shares of the business's stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $274.12, for a total value of $30,809,717.40. Following the completion of the sale, the director now owns 85,000 shares of the company's stock, valued at $23,300,200. The trade was a 56.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Vaibhav Taneja sold 3,000 shares of Tesla stock in a transaction that occurred 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 transaction, 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 position. The disclosure for this sale can be found here. Insiders sold a total of 415,623 shares of company stock worth $116,650,831 in the last quarter. 20.70% of the stock is currently owned by corporate insiders.

Tesla Stock Up 5.0%

Tesla stock traded up $17.12 during mid-day trading on Tuesday, hitting $356.46. The company's stock had a trading volume of 49,361,493 shares, compared to its average volume of 97,323,406. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. Tesla, Inc. has a 52-week low of $167.41 and a 52-week high of $488.54. The firm's 50 day moving average is $279.40 and its 200 day moving average is $333.38. The company has a market cap of $1.15 trillion, a PE ratio of 175.12, a price-to-earnings-growth ratio of 5.86 and a beta of 2.43.

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

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.