Signaturefd LLC Cuts Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Signaturefd LLC decreased its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 1.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 100,000 shares of the electric vehicle producer's stock after selling 1,015 shares during the quarter. Tesla accounts for approximately 0.5% of Signaturefd LLC's portfolio, making the stock its 29th largest position. Signaturefd LLC's holdings in Tesla were worth $25,916,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Cherry Tree Wealth Management LLC raised its holdings in shares of Tesla by 86.3% during the 1st quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after buying an additional 44 shares in the last quarter. First PREMIER Bank grew its position in Tesla by 79.2% during the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after acquiring an additional 42 shares during the last quarter. Newton One Investments LLC raised its stake in shares of Tesla by 250.0% during the first quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock worth $27,000 after acquiring an additional 75 shares in the last quarter. Arcadia Investment Management Corp MI bought a new stake in shares of Tesla in the 1st quarter worth approximately $27,000. Finally, True Wealth Design LLC boosted its stake in shares of 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. 66.20% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

TSLA has been the topic of a number of analyst reports. Royal Bank Of Canada decreased their target price on shares of Tesla from $314.00 to $307.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 23rd. Needham & Company LLC reissued a "hold" rating on shares of Tesla in a research note on Wednesday, April 23rd. Glj Research restated a "sell" rating and set a $19.05 target price (down from $24.86) on shares of Tesla in a report on Monday, April 21st. Baird R W cut Tesla from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 9th. Finally, Guggenheim reiterated a "sell" rating and issued a $175.00 price objective on shares of Tesla in a research report on Tuesday, July 8th. Ten investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Tesla currently has a consensus rating of "Hold" and an average price target of $300.19.

Tesla Stock Performance

NASDAQ:TSLA traded up $3.39 during mid-day trading on Monday, hitting $316.90. 77,759,201 shares of the company traded hands, compared to its average volume of 109,130,633. The company has a quick ratio of 1.54, a current ratio of 2.00 and a debt-to-equity ratio of 0.07. The stock's fifty day moving average price is $322.60 and its 200-day moving average price is $319.32. The firm has a market cap of $1.02 trillion, a price-to-earnings ratio of 174.12, a price-to-earnings-growth ratio of 9.33 and a beta of 2.39. Tesla, Inc. has a one year low of $182.00 and a one year high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $22.93 billion. Tesla had a net margin of 6.66% and a return on equity of 9.02%. During the same quarter last year, the firm posted $0.45 earnings per share. Research analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Vaibhav Taneja sold 6,000 shares of the firm's stock in a transaction 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 sale, the chief financial officer directly owned 1,950 shares in the company, valued at $664,989. This trade represents a 75.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of the company's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $357.30, for a total transaction of $170,636,475.60. Following the completion of the transaction, the director directly owned 855,394 shares of the company's stock, valued at $305,632,276.20. This represents a 35.83% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 835,509 shares of company stock valued at $279,420,485. Insiders own 20.70% of the company's stock.

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.