RFG Advisory LLC Reduces Position in Tesla, Inc. (NASDAQ:TSLA)

RFG Advisory LLC trimmed its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 32.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 13,690 shares of the electric vehicle producer's stock after selling 6,601 shares during the quarter. RFG Advisory LLC's holdings in Tesla were worth $3,548,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in TSLA. True Wealth Design LLC lifted its position in Tesla by 79.5% during the fourth 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. Horrell Capital Management Inc. increased its stake in Tesla by 75.6% in the 4th quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer's stock worth $32,000 after acquiring an additional 34 shares during the last quarter. GS Investments Inc. raised its stake in Tesla by 193.3% during the fourth quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer's stock valued at $36,000 after purchasing an additional 58 shares in the last quarter. Navigoe LLC bought a new position in Tesla during the fourth quarter valued at $37,000. Finally, CoreFirst Bank & Trust purchased a new position in shares of Tesla in the 4th quarter worth $38,000. 66.20% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently issued reports on TSLA. BNP Paribas set a $137.00 target price on shares of Tesla and gave the company an "underperform" rating in a research report on Wednesday, April 16th. Cfra Research downgraded Tesla from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, April 22nd. Morgan Stanley reiterated an "overweight" rating on shares of Tesla in a report on Friday. TD Cowen raised Tesla from a "hold" rating to a "buy" rating and boosted their target price for the company from $180.00 to $388.00 in a research report on Friday, March 7th. Finally, Robert W. Baird lowered their price target on Tesla from $370.00 to $320.00 and set an "outperform" rating for the company in a research report on Wednesday, April 23rd. Ten analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Tesla currently has a consensus rating of "Hold" and a consensus target price of $294.27.

Tesla Stock Up 4.3%

TSLA stock traded up $12.29 during trading on Friday, hitting $296.99. 129,749,359 shares of the company's stock traded hands, compared to its average volume of 99,434,225. The firm has a market capitalization of $956.58 billion, a P/E ratio of 146.94, a PEG ratio of 5.86 and a beta of 2.47. Tesla, Inc. has a 1 year low of $167.41 and a 1 year 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 simple moving average of $291.63 and a two-hundred day simple moving average of $333.97.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its quarterly 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). The company had revenue of $19.34 billion during the quarter, compared to analysts' expectations 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 business posted $0.45 earnings per share. Sell-side analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current year.

Insiders Place Their Bets

In other Tesla news, 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 directly owns 1,463,220 shares in the company, valued at approximately $522,940,195.80. This trade represents a 5.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director James R. Murdoch sold 54,776 shares of the business's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $240.79, for a total value of $13,189,513.04. Following the sale, the director now owns 477,011 shares in the company, valued at $114,859,478.69. The trade was a 10.30% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 870,721 shares of company stock worth $286,248,728. 20.70% of the stock is owned by corporate insiders.

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.