Tesla, Inc. (NASDAQ:TSLA) Position Cut by Creative Capital Management Investments LLC

Creative Capital Management Investments LLC trimmed its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 30.4% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 1,923 shares of the electric vehicle producer's stock after selling 839 shares during the quarter. Tesla makes up about 0.2% of Creative Capital Management Investments LLC's investment portfolio, making the stock its 25th largest holding. Creative Capital Management Investments LLC's holdings in Tesla were worth $498,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Susquehanna Fundamental Investments LLC acquired a new position in shares of Tesla during the fourth quarter valued at $56,600,000. Focus Financial Network Inc. increased its holdings in shares of Tesla by 3.1% during the first quarter. Focus Financial Network Inc. now owns 22,467 shares of the electric vehicle producer's stock valued at $5,823,000 after purchasing an additional 670 shares during the period. Strategic Family Wealth Counselors L.L.C. increased its holdings in shares of Tesla by 133.7% during the fourth quarter. Strategic Family Wealth Counselors L.L.C. now owns 2,847 shares of the electric vehicle producer's stock valued at $1,150,000 after purchasing an additional 1,629 shares during the period. Harvard Management Co. Inc. acquired a new position in shares of Tesla during the fourth quarter valued at $8,158,000. Finally, Blackston Financial Advisory Group LLC increased its holdings in shares of Tesla by 40.4% during the first quarter. Blackston Financial Advisory Group LLC now owns 3,040 shares of the electric vehicle producer's stock valued at $788,000 after purchasing an additional 874 shares during the period. 66.20% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

TSLA has been the topic of a number of research analyst reports. The Goldman Sachs Group lowered their price target on Tesla from $295.00 to $285.00 and set a "neutral" rating on the stock in a report on Friday, June 6th. TD Cowen raised 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 report on Friday, March 7th. Benchmark reaffirmed a "buy" rating and set a $350.00 target price on shares of Tesla in a report on Wednesday, April 23rd. Robert W. Baird reaffirmed a "neutral" rating and set a $320.00 target price on shares of Tesla in a report on Monday, June 9th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on Tesla from $420.00 to $345.00 and set a "buy" rating on the stock in a report on Friday, March 28th. Ten equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $293.67.

Tesla Trading Down 3.8%

Shares of NASDAQ TSLA opened at $316.73 on Wednesday. Tesla, Inc. has a one year low of $179.66 and a one year high of $488.54. The firm has a market capitalization of $1.02 trillion, a PE ratio of 174.03, a PEG ratio of 12.36 and a beta of 2.47. The company has a current ratio of 2.00, a quick ratio of 1.54 and a debt-to-equity ratio of 0.07. The business has a 50-day moving average price of $302.42 and a two-hundred day moving average price of $332.66.

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

Insiders Place Their Bets

In other news, Director Kimbal Musk sold 91,588 shares of Tesla stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $357.39, for a total transaction 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 $522,940,195.80. The trade was a 5.89% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Vaibhav Taneja sold 1,000 shares of Tesla stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $350.00, for a total value of $350,000.00. Following the sale, the chief financial officer now owns 1,950 shares of the company's stock, valued at approximately $682,500. This represents a 33.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 833,509 shares of company stock worth $278,648,925. 20.70% of the stock is currently owned by company 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.

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