Tesla, Inc. (NASDAQ:TSLA) Position Cut by Gemmer Asset Management LLC

Gemmer Asset Management LLC trimmed its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 17.3% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 4,243 shares of the electric vehicle producer's stock after selling 886 shares during the quarter. Gemmer Asset Management LLC's holdings in Tesla were worth $1,100,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. True Wealth Design LLC raised its stake in shares of Tesla by 79.5% during the fourth 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. Horrell Capital Management Inc. raised its stake in shares of Tesla by 75.6% during the fourth quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer's stock valued at $32,000 after purchasing an additional 34 shares in the last quarter. GS Investments Inc. raised its stake in shares of Tesla by 193.3% during the fourth quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer's stock valued at $36,000 after purchasing an additional 58 shares in the last quarter. Navigoe LLC bought a new stake in shares of Tesla during the fourth quarter valued at about $37,000. Finally, CoreFirst Bank & Trust bought a new stake in shares of Tesla during the fourth quarter valued at about $38,000. 66.20% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

TSLA has been the topic of a number of research analyst reports. Stifel Nicolaus set a $450.00 target price on Tesla and gave the stock a "buy" rating in a report on Thursday, April 24th. Bank of America lowered their target price on Tesla from $490.00 to $380.00 and set a "neutral" rating on the stock in a report on Tuesday, March 4th. Wedbush set a $500.00 target price on Tesla in a report on Thursday. 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. Finally, Piper Sandler set a $400.00 target price on Tesla in a report on Tuesday, May 6th. Ten investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Tesla presently has an average rating of "Hold" and a consensus price target of $294.27.

Insider Activity

In related news, Director Ira Matthew Ehrenpreis sold 477,572 shares of the business's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $357.30, for a total value of $170,636,475.60. Following the completion of the sale, the director now owns 855,394 shares of the company's stock, valued at approximately $305,632,276.20. The trade was a 35.83% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director James R. Murdoch sold 54,776 shares of the business's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $240.79, for a total value of $13,189,513.04. Following the completion of the sale, the director now directly owns 477,011 shares of the company's stock, valued at approximately $114,859,478.69. The trade was a 10.30% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 870,721 shares of company stock worth $286,248,728 in the last three months. 20.70% of the stock is owned by insiders.

Tesla Trading Up 3.7%

NASDAQ:TSLA opened at $295.14 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. Tesla, Inc. has a fifty-two week low of $167.41 and a fifty-two week high of $488.54. The stock's 50-day moving average is $292.17 and its two-hundred day moving average is $333.56. The stock has a market cap of $950.63 billion, a PE ratio of 144.68, a price-to-earnings-growth ratio of 5.86 and a beta of 2.47.

Tesla (NASDAQ:TSLA - Get Free Report) last released 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). Tesla had a net margin of 7.26% and a return on equity of 10.31%. The business had revenue of $19.34 billion for the quarter, compared to analysts' expectations of $22.93 billion. During the same period last year, the firm earned $0.45 EPS. As a group, equities research analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

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.

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