Princeton Capital Management LLC Has $1.60 Million Holdings in Tesla, Inc. (NASDAQ:TSLA)

Princeton Capital Management LLC reduced its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 31.2% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 6,162 shares of the electric vehicle producer's stock after selling 2,788 shares during the quarter. Princeton Capital Management LLC's holdings in Tesla were worth $1,597,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Rinkey Investments lifted its position in Tesla by 3.5% during the 4th quarter. Rinkey Investments now owns 860 shares of the electric vehicle producer's stock worth $347,000 after acquiring an additional 29 shares during the period. True Wealth Design LLC increased its stake in Tesla by 79.5% in the 4th quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock valued at $28,000 after purchasing an additional 31 shares in the last quarter. Aldebaran Financial Inc. increased its stake in Tesla by 3.1% in the 4th quarter. Aldebaran Financial Inc. now owns 1,174 shares of the electric vehicle producer's stock valued at $490,000 after purchasing an additional 35 shares in the last quarter. Acorn Wealth Advisors LLC grew its holdings in Tesla by 1.9% during the 1st quarter. Acorn Wealth Advisors LLC now owns 1,901 shares of the electric vehicle producer's stock valued at $493,000 after buying an additional 36 shares during the last quarter. Finally, Capital Management Associates Inc grew its holdings in Tesla by 3.4% during the 1st quarter. Capital Management Associates Inc now owns 1,166 shares of the electric vehicle producer's stock valued at $302,000 after buying an additional 38 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors.

Tesla Stock Performance

NASDAQ TSLA traded up $10.76 during trading on Friday, reaching $316.06. The company's stock had a trading volume of 147,437,834 shares, compared to its average volume of 90,285,424. The firm has a 50 day moving average price of $324.70 and a 200 day moving average price of $314.09. The firm has a market capitalization of $1.02 trillion, a price-to-earnings ratio of 182.69, a price-to-earnings-growth ratio of 12.00 and a beta of 2.39. The company has a current ratio of 2.04, a quick ratio of 1.54 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a 12 month low of $182.00 and a 12 month high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The electric vehicle producer reported $0.40 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.03). Tesla had a net margin of 6.54% and a return on equity of 7.98%. The firm had revenue of $22.50 billion for the quarter, compared to analyst estimates of $23.18 billion. During the same quarter in the prior year, the firm earned $0.52 earnings per share. The firm's revenue for the quarter was down 11.8% on a year-over-year basis. As a group, equities analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Activity

In related news, CFO Vaibhav Taneja sold 6,000 shares of the company's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $341.02, for a total transaction of $2,046,120.00. Following the completion of the transaction, the chief financial officer directly owned 1,950 shares in the company, valued at $664,989. This represents a 75.47% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robyn M. Denholm sold 112,395 shares of the stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $274.12, for a total transaction of $30,809,717.40. Following the completion of the transaction, the director directly owned 85,000 shares of the company's stock, valued at approximately $23,300,200. The trade was a 56.94% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 835,509 shares of company stock valued at $279,420,485. Corporate insiders own 20.70% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on TSLA. Benchmark restated a "buy" rating and set a $475.00 price objective (up previously from $350.00) on shares of Tesla in a report on Thursday, June 26th. Piper Sandler reiterated an "overweight" rating and issued a $400.00 target price on shares of Tesla in a report on Tuesday, June 10th. Roth Mkm reduced their target price on Tesla from $450.00 to $395.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. Glj Research reiterated a "sell" rating on shares of Tesla in a report on Thursday. Finally, William Blair cut Tesla from an "outperform" rating to a "market perform" rating in a report on Monday, July 7th. Ten analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $302.75.

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.