Penserra Capital Management LLC Trims Stock Position in Tesla, Inc. (NASDAQ:TSLA)

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

A number of other hedge funds have also recently modified their holdings of TSLA. Cherry Tree Wealth Management LLC increased its position in Tesla by 86.3% during the 1st quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after purchasing an additional 44 shares during the period. First PREMIER Bank raised 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 acquiring an additional 42 shares in the last quarter. Newton One Investments LLC lifted its stake 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 valued at $27,000 after purchasing an additional 75 shares during the period. True Wealth Design LLC grew 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 purchasing an additional 31 shares during the period. Finally, Compass Wealth Management LLC lifted its position in Tesla by 360.0% during the first quarter. Compass Wealth Management LLC now owns 115 shares of the electric vehicle producer's stock valued at $30,000 after buying an additional 90 shares during the period. Hedge funds and other institutional investors own 66.20% of the company's stock.

Analysts Set New Price Targets

TSLA has been the topic of a number of recent research reports. Truist Financial set a $280.00 price objective on shares of Tesla in a report on Tuesday, April 22nd. Deutsche Bank Aktiengesellschaft lowered their price objective on Tesla from $420.00 to $345.00 and set a "buy" rating for the company in a research note on Friday, March 28th. Piper Sandler restated an "overweight" rating and set a $400.00 price target on shares of Tesla in a report on Tuesday, June 10th. Morgan Stanley reiterated an "overweight" rating and issued a $410.00 price target on shares of Tesla in a research note on Friday, June 6th. Finally, Royal Bank Of Canada reduced their price objective on shares of Tesla from $314.00 to $307.00 and set an "outperform" rating for the company in a research note on Wednesday, April 23rd. Ten investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Tesla has a consensus rating of "Hold" and a consensus price target of $301.13.

Insider Buying and Selling at Tesla

In related news, CFO Vaibhav Taneja sold 2,564 shares of Tesla stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $285.71, for a total transaction of $732,560.44. Following the completion of the transaction, the chief financial officer directly owned 5,924 shares of the company's stock, valued at approximately $1,692,546.04. The trade was a 30.21% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Xiaotong Zhu sold 15,000 shares of the stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $323.81, for a total transaction of $4,857,150.00. Following the completion of the sale, the senior vice president directly owned 67,600 shares in the company, valued at $21,889,556. This trade represents a 18.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 829,509 shares of company stock valued at $277,648,925. Corporate insiders own 20.70% of the company's stock.

Tesla Price Performance

Shares of NASDAQ TSLA traded down $1.93 during midday trading on Wednesday, reaching $295.88. 75,143,508 shares of the stock traded hands, compared to its average volume of 100,488,192. The company's 50 day moving average is $321.21 and its 200 day moving average is $323.29. Tesla, Inc. has a one year low of $182.00 and a one year high of $488.54. The stock has a market capitalization of $953.02 billion, a PE ratio of 162.57, a P/E/G ratio of 8.86 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 (NASDAQ:TSLA - Get Free Report) last posted 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 during 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 last year, the firm earned $0.45 earnings per share. On average, equities research analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current year.

Tesla Company 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.