Synergy Asset Management LLC Trims Holdings in Tesla, Inc. (NASDAQ:TSLA)

Synergy Asset Management LLC trimmed its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 29.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 59,040 shares of the electric vehicle producer's stock after selling 24,954 shares during the quarter. Tesla comprises 1.9% of Synergy Asset Management LLC's holdings, making the stock its 16th largest position. Synergy Asset Management LLC's holdings in Tesla were worth $15,301,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Crews Bank & Trust raised its holdings in shares of Tesla by 42.9% during the first quarter. Crews Bank & Trust now owns 323 shares of the electric vehicle producer's stock worth $84,000 after purchasing an additional 97 shares during the last quarter. Heartland Bank & Trust Co raised its holdings in shares of Tesla by 17.0% during the first quarter. Heartland Bank & Trust Co now owns 7,352 shares of the electric vehicle producer's stock worth $1,905,000 after purchasing an additional 1,066 shares during the last quarter. Cyr Financial Inc. raised its stake in shares of Tesla by 28.8% during the 1st quarter. Cyr Financial Inc. now owns 1,892 shares of the electric vehicle producer's stock valued at $490,000 after buying an additional 423 shares during the last quarter. Masso Torrence Wealth Management Inc. raised its stake in shares of Tesla by 2.9% during the 1st quarter. Masso Torrence Wealth Management Inc. now owns 5,881 shares of the electric vehicle producer's stock valued at $1,524,000 after buying an additional 164 shares during the last quarter. Finally, MPS Loria Financial Planners LLC raised its stake in shares of Tesla by 6.5% during the 1st quarter. MPS Loria Financial Planners LLC now owns 1,534 shares of the electric vehicle producer's stock valued at $398,000 after buying an additional 93 shares during the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Trading Up 0.0%

Shares of Tesla stock opened at $322.16 on Friday. The firm has a market capitalization of $1.04 trillion, a price-to-earnings ratio of 177.01, a PEG ratio of 12.05 and a beta of 2.47. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.54 and a current ratio of 2.00. Tesla, Inc. has a fifty-two week low of $182.00 and a fifty-two week high of $488.54. The stock has a 50 day moving average of $306.22 and a 200 day moving average of $331.96.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share for the quarter, missing analysts' consensus estimates of $0.53 by ($0.26). The business had revenue of $19.34 billion for the quarter, compared to analysts' expectations of $22.93 billion. Tesla had a return on equity of 9.02% and a net margin of 6.66%. During the same quarter in the prior year, the company posted $0.45 earnings per share. As a group, research analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction that occurred on 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 completion of the transaction, the chief financial officer now owns 26,950 shares of the company's stock, valued at approximately $6,737,500. This trade represents a 12.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Robyn M. Denholm sold 112,395 shares of the firm's stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $274.12, for a total value of $30,809,717.40. Following the transaction, the director now owns 85,000 shares of the company's stock, valued at approximately $23,300,200. This represents a 56.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 833,509 shares of company stock valued at $278,648,925 over the last 90 days. 20.70% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on TSLA shares. Argus reiterated a "hold" rating on shares of Tesla in a research report on Monday, June 9th. Glj Research reaffirmed 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. Stifel Nicolaus set a $450.00 target price on shares of Tesla and gave the company a "buy" rating in a report on Thursday, April 24th. Baird R W cut shares of Tesla from a "strong-buy" rating to a "hold" rating in a report on Monday, June 9th. Finally, Cantor Fitzgerald cut their price objective on shares of Tesla from $425.00 to $355.00 and set an "overweight" rating for the company in a report on Wednesday, April 23rd. Ten equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $293.67.

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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