Penserra Capital Management LLC Sells 6,745 Shares of Tesla, Inc. (NASDAQ:TSLA)

Penserra Capital Management LLC trimmed its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 30.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,076 shares of the electric vehicle producer's stock after selling 6,745 shares during the quarter. Penserra Capital Management LLC's holdings in Tesla were worth $3,906,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Cherry Tree Wealth Management LLC lifted its position in shares of Tesla by 86.3% in the 1st quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock worth $25,000 after purchasing an additional 44 shares during the period. First PREMIER Bank lifted its position in shares of Tesla by 79.2% in the 1st quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock worth $25,000 after purchasing an additional 42 shares during the period. Newton One Investments LLC lifted its position in shares of Tesla by 250.0% in the 1st quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock worth $27,000 after purchasing an additional 75 shares during the period. True Wealth Design LLC lifted its position in shares of Tesla by 79.5% in the 4th quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock worth $28,000 after purchasing an additional 31 shares during the period. Finally, Compass Wealth Management LLC lifted its position in shares of Tesla by 360.0% in the 1st quarter. Compass Wealth Management LLC now owns 115 shares of the electric vehicle producer's stock worth $30,000 after purchasing an additional 90 shares during the period. 66.20% of the stock is owned by institutional investors.

Tesla Stock Performance

TSLA traded up $13.29 during trading on Thursday, hitting $309.17. 77,833,015 shares of the company traded hands, compared to its average volume of 109,356,969. 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 firm has a market cap of $995.83 billion, a P/E ratio of 169.99, a price-to-earnings-growth ratio of 8.86 and a beta of 2.39. Tesla, Inc. has a one year low of $182.00 and a one year high of $488.54. The stock's fifty day moving average is $321.49 and its 200 day moving average is $323.10.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share for the quarter, missing analysts' consensus estimates of $0.53 by ($0.26). The business had revenue of $19.34 billion for the quarter, compared to the consensus estimate of $22.93 billion. Tesla had a return on equity of 9.02% and a net margin of 6.66%. During the same quarter in the prior year, the business earned $0.45 EPS. As a group, equities analysts predict that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Activity

In other Tesla news, 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 owned 855,394 shares in the company, valued at $305,632,276.20. This trade represents a 35.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Robyn M. Denholm sold 112,395 shares of the stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $274.12, for a total transaction of $30,809,717.40. Following the transaction, the director owned 85,000 shares of the company's stock, valued at $23,300,200. This represents a 56.94% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 835,509 shares of company stock valued at $279,420,485. 20.70% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Needham & Company LLC restated a "hold" rating on shares of Tesla in a research report on Wednesday, April 23rd. Wells Fargo & Company dropped their price target on shares of Tesla from $135.00 to $130.00 and set an "underweight" rating on the stock in a research report on Friday, March 14th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Tesla from $420.00 to $345.00 and set a "buy" rating on the stock in a research report on Friday, March 28th. Stifel Nicolaus set a $450.00 price target on shares of Tesla and gave the stock a "buy" rating in a report on Thursday, April 24th. Finally, Royal Bank Of Canada dropped their price objective on shares of Tesla from $314.00 to $307.00 and set an "outperform" rating on the stock in a report on Wednesday, April 23rd. Ten analysts have rated the stock with a sell rating, fourteen have given a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $301.13.

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.