SeaCrest Wealth Management LLC Cuts Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

SeaCrest Wealth Management LLC lowered its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 11.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,911 shares of the electric vehicle producer's stock after selling 2,540 shares during the period. Tesla makes up 0.6% of SeaCrest Wealth Management LLC's portfolio, making the stock its 24th biggest position. SeaCrest Wealth Management LLC's holdings in Tesla were worth $4,901,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. Susquehanna Fundamental Investments LLC acquired a new stake in Tesla during the 4th quarter valued at $56,600,000. Stephens Consulting LLC lifted its position in shares of Tesla by 126.7% in the 4th quarter. Stephens Consulting LLC now owns 1,594 shares of the electric vehicle producer's stock worth $644,000 after buying an additional 891 shares during the last quarter. Strategic Family Wealth Counselors L.L.C. lifted its position in shares of Tesla by 133.7% in the 4th quarter. Strategic Family Wealth Counselors L.L.C. now owns 2,847 shares of the electric vehicle producer's stock worth $1,150,000 after buying an additional 1,629 shares during the last quarter. Harvard Management Co. Inc. bought a new position in shares of Tesla in the 4th quarter worth about $8,158,000. Finally, Vontobel Holding Ltd. lifted its position in shares of Tesla by 23.0% in the 4th quarter. Vontobel Holding Ltd. now owns 322,300 shares of the electric vehicle producer's stock worth $130,158,000 after buying an additional 60,342 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company's stock.

Tesla Trading Up 3.7%

Shares of TSLA stock opened at $295.14 on Friday. Tesla, Inc. has a 1 year low of $167.41 and a 1 year high of $488.54. The firm's fifty day simple moving average is $292.17 and its 200 day simple moving average is $333.62. The firm has a market capitalization of $950.63 billion, a P/E ratio of 144.68, a price-to-earnings-growth ratio of 5.86 and a beta of 2.47. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08.

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 the consensus estimate 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 net margin of 7.26% and a return on equity of 10.31%. During the same period last year, the firm earned $0.45 EPS. As a group, sell-side analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Activity

In related news, CFO Vaibhav Taneja sold 4,000 shares of the company's stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the transaction, the chief financial officer now owns 26,950 shares in the company, valued at $6,737,500. This represents a 12.92% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James R. Murdoch sold 54,776 shares of the company's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the transaction, the director now owns 477,011 shares in the company, valued at approximately $114,859,478.69. This trade represents a 10.30% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 870,721 shares of company stock worth $286,248,728. Corporate insiders own 20.70% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on TSLA shares. Argus set a $410.00 price objective on shares of Tesla in a research report on Thursday, April 24th. Barclays lowered their price objective on shares of Tesla from $325.00 to $275.00 and set an "equal weight" rating on the stock in a research note on Monday, April 21st. TD Cowen raised shares of Tesla from a "hold" rating to a "buy" rating and lifted their target price for the stock from $180.00 to $388.00 in a research report on Friday, March 7th. Cowen raised shares of Tesla from a "hold" rating to a "buy" rating in a research report on Thursday, March 6th. Finally, Roth Mkm decreased their price target on shares of Tesla from $450.00 to $395.00 and set a "buy" rating for the company in a report on Wednesday, April 23rd. Ten research analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $294.27.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.