Jackson Square Capital LLC Cuts Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Jackson Square Capital LLC trimmed its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 62.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 837 shares of the electric vehicle producer's stock after selling 1,401 shares during the quarter. Jackson Square Capital LLC's holdings in Tesla were worth $217,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Praetorian Wealth Management Inc. raised its holdings in shares of Tesla by 4.9% during the first quarter. Praetorian Wealth Management Inc. now owns 965 shares of the electric vehicle producer's stock valued at $250,000 after purchasing an additional 45 shares during the period. Goldstone Financial Group LLC grew its position in Tesla by 11.7% in the 1st quarter. Goldstone Financial Group LLC now owns 7,086 shares of the electric vehicle producer's stock worth $1,836,000 after purchasing an additional 741 shares in the last quarter. BigSur Wealth Management LLC bought a new stake in Tesla in the 1st quarter worth about $905,000. Caldwell Sutter Capital Inc. grew its position in Tesla by 78.7% in the 1st quarter. Caldwell Sutter Capital Inc. now owns 193 shares of the electric vehicle producer's stock worth $50,000 after purchasing an additional 85 shares in the last quarter. Finally, CVA Family Office LLC grew its position in Tesla by 2.5% in the 1st quarter. CVA Family Office LLC now owns 7,375 shares of the electric vehicle producer's stock worth $1,911,000 after purchasing an additional 178 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Kimbal Musk sold 91,588 shares of Tesla stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $357.39, for a total value 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. This trade represents a 5.89% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Vaibhav Taneja sold 4,000 shares of Tesla 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 owns 26,950 shares of the company's stock, valued at $6,737,500. This trade represents a 12.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 818,509 shares of company stock valued at $273,791,775. 20.70% of the stock is currently owned by company insiders.

Tesla Price Performance

Shares of TSLA stock traded up $6.20 during mid-day trading on Friday, hitting $325.31. The company had a trading volume of 128,417,075 shares, compared to its average volume of 100,836,055. Tesla, Inc. has a 52-week low of $177.00 and a 52-week high of $488.54. The stock's 50 day moving average price is $299.39 and its 200-day moving average price is $332.88. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. The company has a market capitalization of $1.05 trillion, a P/E ratio of 159.47, a P/E/G ratio of 5.86 and a beta of 2.47.

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 (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 analysts' expectations of $22.93 billion. Tesla had a net margin of 7.26% and a return on equity of 10.31%. During the same period in the previous year, the company earned $0.45 EPS. Equities research analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on TSLA. Morgan Stanley restated an "overweight" rating and set a $410.00 price target on shares of Tesla in a research note on Friday, June 6th. Canaccord Genuity Group lowered their target price on shares of Tesla from $404.00 to $303.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. Roth Mkm lowered their target price on shares of Tesla from $450.00 to $395.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. Glj Research reiterated a "sell" rating and issued a $19.05 target price (down from $24.86) on shares of Tesla in a research note on Monday, April 21st. Finally, TD Cowen upgraded shares of Tesla from a "hold" rating to a "buy" rating and raised their price objective for the company from $180.00 to $388.00 in a research report on Friday, March 7th. Ten investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $293.67.

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.