Horizon Wealth Management LLC Has $1.25 Million Holdings in Tesla, Inc. (NASDAQ:TSLA)

Horizon Wealth Management LLC decreased its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 16.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,830 shares of the electric vehicle producer's stock after selling 946 shares during the period. Horizon Wealth Management LLC's holdings in Tesla were worth $1,252,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in TSLA. Vista Finance LLC grew its position in Tesla by 0.7% in the fourth quarter. Vista Finance LLC now owns 3,510 shares of the electric vehicle producer's stock worth $1,417,000 after acquiring an additional 25 shares in the last quarter. Jmac Enterprises LLC lifted its stake in shares of Tesla by 0.7% in the 4th quarter. Jmac Enterprises LLC now owns 3,884 shares of the electric vehicle producer's stock valued at $1,569,000 after purchasing an additional 26 shares during the last quarter. TFB Advisors LLC boosted its holdings in Tesla by 0.5% in the fourth quarter. TFB Advisors LLC now owns 5,213 shares of the electric vehicle producer's stock worth $2,105,000 after purchasing an additional 27 shares in the last quarter. Vista Capital Partners Inc. increased its position in Tesla by 1.4% during the fourth quarter. Vista Capital Partners Inc. now owns 1,969 shares of the electric vehicle producer's stock worth $795,000 after buying an additional 27 shares during the last quarter. Finally, Blackston Financial Advisory Group LLC raised its holdings in Tesla by 1.3% during the fourth quarter. Blackston Financial Advisory Group LLC now owns 2,166 shares of the electric vehicle producer's stock valued at $875,000 after buying an additional 27 shares in the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Price Performance

Shares of TSLA traded up $17.51 on Tuesday, hitting $326.09. The company's stock had a trading volume of 150,182,854 shares, compared to its average volume of 100,430,204. The company has a 50 day moving average price of $293.86 and a 200 day moving average price of $333.15. 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 company has a market capitalization of $1.05 trillion, a PE ratio of 159.85, a PEG 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 (EPS) 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 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 previous year, the company posted $0.45 earnings per share. On average, research analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Robyn M. Denholm sold 112,390 shares of the company's stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $285.58, for a total transaction of $32,096,336.20. Following the sale, the director now owns 85,000 shares in the company, valued at $24,274,300. This represents a 56.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Vaibhav Taneja sold 2,564 shares of the firm's stock in a transaction on Monday, June 9th. The shares were sold at an average price of $285.71, for a total transaction of $732,560.44. Following the completion of the transaction, the chief financial officer now directly owns 5,924 shares of the company's stock, valued at $1,692,546.04. This represents a 30.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 818,509 shares of company stock worth $273,791,775. Company insiders own 20.70% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on TSLA. JPMorgan Chase & Co. lowered their price objective on Tesla from $120.00 to $115.00 and set an "underweight" rating on the stock in a report on Wednesday, April 23rd. 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. Wedbush set a $500.00 price objective on shares of Tesla in a research note on Thursday, June 5th. HSBC lowered their target price on shares of Tesla from $165.00 to $130.00 and set a "reduce" rating on the stock in a research note on Thursday, March 27th. Finally, Stifel Nicolaus set a $450.00 target price on shares of Tesla and gave the stock a "buy" rating in a research report on Thursday, April 24th. Ten investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Tesla has a consensus rating of "Hold" and a consensus price target of $293.67.

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.