Azzad Asset Management Inc. ADV Reduces Position in Tesla, Inc. (NASDAQ:TSLA)

Azzad Asset Management Inc. ADV lessened its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 17.9% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 48,790 shares of the electric vehicle producer's stock after selling 10,615 shares during the period. Tesla comprises approximately 1.5% of Azzad Asset Management Inc. ADV's holdings, making the stock its 6th biggest position. Azzad Asset Management Inc. ADV's holdings in Tesla were worth $12,644,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in TSLA. Norges Bank bought a new position in shares of Tesla during the 4th quarter valued at approximately $14,420,248,000. FMR LLC boosted its position in shares of Tesla by 40.1% in the fourth quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer's stock worth $13,997,660,000 after purchasing an additional 9,920,325 shares during the period. GAMMA Investing LLC boosted its position in shares of Tesla by 27,378.6% in the first quarter. GAMMA Investing LLC now owns 9,812,316 shares of the electric vehicle producer's stock worth $2,542,960,000 after purchasing an additional 9,776,607 shares during the period. Massachusetts Financial Services Co. MA raised its position in shares of Tesla by 4,963.0% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 5,834,707 shares of the electric vehicle producer's stock valued at $2,356,288,000 after purchasing an additional 5,719,466 shares during the period. Finally, Northern Trust Corp lifted its stake in shares of Tesla by 21.6% during the 4th quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer's stock valued at $11,541,592,000 after buying an additional 5,075,418 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Tesla

In related news, CFO Vaibhav Taneja sold 4,000 shares of the firm's stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the completion of the sale, the chief financial officer now directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of the company's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $357.30, for a total value of $170,636,475.60. Following the completion of the transaction, the director now directly owns 855,394 shares in the company, valued at $305,632,276.20. This trade represents a 35.83% decrease in their position. The disclosure for this sale can be found here. Insiders sold 833,509 shares of company stock worth $278,648,925 over the last 90 days. Company insiders own 20.70% of the company's stock.

Wall Street Analysts Forecast Growth

TSLA has been the subject of a number of analyst reports. UBS Group cut their price target on Tesla from $225.00 to $190.00 and set a "sell" rating for the company in a research note on Thursday, April 10th. Wedbush set a $500.00 target price on Tesla in a research report on Thursday, June 5th. Piper Sandler reissued an "overweight" rating and set a $400.00 target price on shares of Tesla in a research note on Tuesday, June 10th. Royal Bank Of Canada dropped their price target on Tesla from $314.00 to $307.00 and set an "outperform" rating for the company in a research note on Wednesday, April 23rd. Finally, Stifel Nicolaus set a $450.00 price objective on shares of Tesla and gave the company a "buy" rating in a research report on Thursday, April 24th. Ten equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $293.67.

Tesla Trading Down 3.8%

TSLA stock traded down $12.40 during mid-day trading on Tuesday, reaching $316.73. 87,311,908 shares of the stock traded hands, compared to its average volume of 100,682,401. Tesla, Inc. has a one year low of $179.66 and a one year high of $488.54. The stock 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 debt-to-equity ratio of 0.07, a quick ratio of 1.54 and a current ratio of 2.00. 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 issued its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.26). Tesla had a net margin of 6.66% and a return on equity of 9.02%. The firm had revenue of $19.34 billion for the quarter, compared to the consensus estimate of $22.93 billion. During the same quarter in the previous year, the company posted $0.45 earnings per share. Equities research analysts expect that Tesla, Inc. will post 2.56 EPS for the current 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.