Praxis Investment Management Inc. Decreases Holdings in Tesla, Inc. (NASDAQ:TSLA)

Praxis Investment Management Inc. decreased its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 7.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 59,730 shares of the electric vehicle producer's stock after selling 5,060 shares during the quarter. Tesla accounts for approximately 1.1% of Praxis Investment Management Inc.'s investment portfolio, making the stock its 16th largest position. Praxis Investment Management Inc.'s holdings in Tesla were worth $15,480,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. True Wealth Design LLC grew its holdings in shares of Tesla by 79.5% during 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 last quarter. Horrell Capital Management Inc. grew its holdings 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 worth $32,000 after purchasing an additional 34 shares during the last quarter. GS Investments Inc. grew its holdings 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 worth $36,000 after purchasing an additional 58 shares during the last quarter. Navigoe LLC bought a new stake in shares of Tesla during the fourth quarter worth about $37,000. Finally, CoreFirst Bank & Trust bought a new stake in shares of Tesla during the fourth quarter worth about $38,000. Institutional investors and hedge funds own 66.20% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on TSLA. Deutsche Bank Aktiengesellschaft reduced their price target on Tesla from $420.00 to $345.00 and set a "buy" rating on the stock in a report on Friday, March 28th. The Goldman Sachs Group restated a "neutral" rating on shares of Tesla in a report on Friday. Robert W. Baird reiterated a "neutral" rating and issued a $320.00 target price on shares of Tesla in a report on Monday, June 9th. Cantor Fitzgerald reduced their target price on Tesla from $425.00 to $355.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. Finally, HSBC reduced their target price on Tesla from $165.00 to $130.00 and set a "reduce" rating on the stock in a report on Thursday, March 27th. Ten equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $293.67.

Insider Buying and Selling

In related news, SVP Xiaotong Zhu sold 15,000 shares of the stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $323.81, for a total value of $4,857,150.00. Following the completion of the sale, the senior vice president now directly owns 67,600 shares of the company's stock, valued at approximately $21,889,556. This represents a 18.16% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction on Monday, April 7th. The shares were sold at an average price of $250.00, for a total value of $1,000,000.00. Following the completion of the sale, the chief financial officer now directly owns 26,950 shares of the company's stock, valued at $6,737,500. The trade was a 12.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 833,509 shares of company stock worth $278,648,925 in the last ninety days. Corporate insiders own 20.70% of the company's stock.

Tesla Stock Up 0.0%

Shares of TSLA traded up $0.11 during trading hours on Friday, reaching $322.16. The stock had a trading volume of 108,229,033 shares, compared to its average volume of 100,998,233. Tesla, Inc. has a 12 month low of $180.69 and a 12 month high of $488.54. The firm has a 50-day simple moving average of $306.22 and a 200 day simple moving average of $332.14. The company has a current ratio of 2.00, a quick ratio of 1.54 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $1.04 trillion, a price-to-earnings ratio of 177.01, a P/E/G ratio of 12.04 and a beta of 2.47.

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 (EPS) for the quarter, missing analysts' consensus estimates of $0.53 by ($0.26). Tesla had a return on equity of 9.02% and a net margin of 6.66%. The firm had revenue of $19.34 billion during the quarter, compared to the consensus estimate of $22.93 billion. During the same quarter in the prior year, the business earned $0.45 earnings per share. Equities research analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal 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.