St. Louis Financial Planners Asset Management LLC Cuts Holdings in Tesla, Inc. (NASDAQ:TSLA)

St. Louis Financial Planners Asset Management LLC lowered its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 9.7% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 15,564 shares of the electric vehicle producer's stock after selling 1,668 shares during the quarter. Tesla makes up about 3.0% of St. Louis Financial Planners Asset Management LLC's holdings, making the stock its 6th biggest position. St. Louis Financial Planners Asset Management LLC's holdings in Tesla were worth $4,034,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Private Client Services LLC lifted its stake in Tesla by 76.8% in the 1st quarter. Private Client Services LLC now owns 900 shares of the electric vehicle producer's stock valued at $233,000 after buying an additional 391 shares in the last quarter. Global Financial Private Client LLC raised its holdings in Tesla by 13.2% in the 1st quarter. Global Financial Private Client LLC now owns 1,316 shares of the electric vehicle producer's stock valued at $341,000 after acquiring an additional 153 shares during the last quarter. Welch Group LLC raised its holdings in Tesla by 29.8% in the 1st quarter. Welch Group LLC now owns 3,115 shares of the electric vehicle producer's stock valued at $821,000 after acquiring an additional 715 shares during the last quarter. Parallel Advisors LLC raised its holdings in Tesla by 6.2% in the 1st quarter. Parallel Advisors LLC now owns 69,338 shares of the electric vehicle producer's stock valued at $17,971,000 after acquiring an additional 4,048 shares during the last quarter. Finally, Summit Global Investments raised its holdings in Tesla by 0.6% in the 1st quarter. Summit Global Investments now owns 37,030 shares of the electric vehicle producer's stock valued at $9,597,000 after acquiring an additional 220 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company's stock.

Tesla Stock Down 2.6%

Shares of Tesla stock traded down $9.34 during trading hours on Friday, hitting $349.09. 122,996,137 shares of the company's stock traded hands, compared to its average volume of 98,157,709. The stock has a 50 day simple moving average of $286.92 and a 200-day simple moving average of $333.97. 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 company has a market cap of $1.12 trillion, a PE ratio of 171.12, a PEG ratio of 5.86 and a beta of 2.43. Tesla, Inc. has a twelve month low of $167.41 and a twelve month high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.26). The business had revenue of $19.34 billion for the quarter, compared to analyst estimates 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 earned $0.45 earnings per share. Equities research analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Vaibhav Taneja sold 2,672 shares of the stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $268.73, for a total transaction of $718,046.56. Following the transaction, the chief financial officer now owns 26,950 shares of the company's stock, valued at approximately $7,242,273.50. This trade represents a 9.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Robyn M. Denholm sold 112,390 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $299.61, for a total transaction of $33,673,167.90. Following the transaction, the director now directly owns 85,000 shares in the company, valued at $25,466,850. The trade was a 56.94% decrease in their position. The disclosure for this sale can be found here. Insiders sold 984,783 shares of company stock worth $320,019,942 over the last ninety days. Corporate insiders own 20.70% of the company's stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Roth Mkm cut their price target on Tesla from $450.00 to $395.00 and set a "buy" rating for the company in a report on Wednesday, April 23rd. BNP Paribas set a $137.00 price target on Tesla and gave the company an "underperform" rating in a report on Wednesday, April 16th. Benchmark reiterated a "buy" rating and issued a $350.00 price target on shares of Tesla in a report on Wednesday, April 23rd. Cfra Research downgraded Tesla from a "moderate buy" rating to a "hold" rating in a report on Tuesday, April 22nd. Finally, HSBC dropped their price objective on Tesla from $165.00 to $130.00 and set a "reduce" rating for the company in a report on Thursday, March 27th. Ten research analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Tesla presently has a consensus rating of "Hold" and a consensus target price of $293.97.

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.