QRG Capital Management Inc. Decreases Stock Position in Tesla, Inc. (NASDAQ:TSLA)

QRG Capital Management Inc. cut its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 4.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 388,816 shares of the electric vehicle producer's stock after selling 17,403 shares during the period. Tesla comprises about 1.0% of QRG Capital Management Inc.'s holdings, making the stock its 13th largest position. QRG Capital Management Inc.'s holdings in Tesla were worth $100,765,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. True Wealth Design LLC increased its position 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 in the last quarter. Horrell Capital Management Inc. increased its position 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 in the last quarter. GS Investments Inc. increased its position 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 in the last quarter. Navigoe LLC acquired a new position in Tesla in the 4th quarter valued at about $37,000. Finally, CoreFirst Bank & Trust acquired a new position in Tesla in the 4th quarter valued at about $38,000. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Tesla Trading Up 1.9%

TSLA stock opened at $325.31 on Monday. The company has a market cap of $1.05 trillion, a P/E ratio of 159.47, a PEG ratio of 5.86 and a beta of 2.47. Tesla, Inc. has a twelve month low of $177.00 and a twelve month high of $488.54. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. The business has a fifty day moving average of $299.39 and a 200-day moving average of $332.88.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS for the quarter, missing analysts' consensus estimates of $0.53 by ($0.26). The company had revenue of $19.34 billion during the quarter, compared to the consensus estimate of $22.93 billion. Tesla had a net margin of 7.26% and a return on equity of 10.31%. During the same quarter in the prior year, the company posted $0.45 EPS. As a group, equities research analysts expect that Tesla, Inc. will post 2.56 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Truist Financial set a $280.00 price target on Tesla in a research report on Tuesday, April 22nd. Deutsche Bank Aktiengesellschaft decreased their price target on Tesla from $420.00 to $345.00 and set a "buy" rating on the stock in a research note on Friday, March 28th. The Goldman Sachs Group decreased their price target on Tesla from $295.00 to $285.00 and set a "neutral" rating on the stock in a research note on Friday, June 6th. Mizuho boosted their price target on Tesla from $325.00 to $390.00 and gave the stock an "outperform" rating in a research note on Friday, May 16th. Finally, HSBC decreased their price target on Tesla from $165.00 to $130.00 and set a "reduce" rating on the stock in a research note on Thursday, March 27th. Ten analysts have rated the stock with a sell rating, thirteen have given a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Tesla has an average rating of "Hold" and an average target price of $293.67.

Insider Activity at Tesla

In other Tesla news, Director Ira Matthew Ehrenpreis sold 477,572 shares of the stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $357.30, for a total value of $170,636,475.60. Following the completion of the sale, the director now directly owns 855,394 shares in the company, valued at $305,632,276.20. This represents a 35.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kimbal Musk sold 91,588 shares of the stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $357.39, for a total value of $32,732,635.32. Following the completion of the sale, the director now owns 1,463,220 shares of the company's stock, valued at $522,940,195.80. This trade represents a 5.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 818,509 shares of company stock worth $273,791,775. 20.70% of the stock is owned by insiders.

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.

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