Leibman Financial Services Inc. Sells 2,551 Shares of Tesla, Inc. (NASDAQ:TSLA)

Leibman Financial Services Inc. lessened its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 60.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,651 shares of the electric vehicle producer's stock after selling 2,551 shares during the quarter. Leibman Financial Services Inc.'s holdings in Tesla were worth $428,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Norges Bank purchased a new stake in Tesla during the 4th quarter worth approximately $14,420,248,000. FMR LLC raised its stake in Tesla by 40.1% during the fourth quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer's stock worth $13,997,660,000 after acquiring an additional 9,920,325 shares during the period. GAMMA Investing LLC increased its position in 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 buying an additional 9,776,607 shares during the period. Strategic Financial Concepts LLC boosted its position in shares of Tesla by 36,790.0% during the fourth quarter. Strategic Financial Concepts LLC now owns 8,660,672 shares of the electric vehicle producer's stock worth $3,497,526,000 after buying an additional 8,637,195 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its stake in shares of Tesla by 4,963.0% during the fourth 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 in the last quarter. Hedge funds and other institutional investors own 66.20% of the company's stock.

Insider Activity

In related news, CFO Vaibhav Taneja sold 1,000 shares of the company's stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $350.00, for a total value of $350,000.00. Following the completion of the transaction, the chief financial officer now directly owns 1,950 shares of the company's stock, valued at approximately $682,500. This represents a 33.90% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Joseph Gebbia bought 4,000 shares of the business's stock in a transaction on Thursday, April 24th. The stock was purchased at an average price of $256.31 per share, for a total transaction of $1,025,240.00. Following the purchase, the director now directly owns 4,111 shares in the company, valued at approximately $1,053,690.41. This represents a 3,603.60% increase in their position. The disclosure for this purchase can be found here. Insiders sold 870,721 shares of company stock worth $286,248,728 over the last quarter. 20.70% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages have commented on TSLA. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Tesla from $420.00 to $345.00 and set a "buy" rating on the stock in a research report on Friday, March 28th. Mizuho upped their price objective on shares of Tesla from $325.00 to $390.00 and gave the company an "outperform" rating in a research note on Friday, May 16th. Wedbush reaffirmed an "outperform" rating and set a $500.00 price objective (up previously from $350.00) on shares of Tesla in a research report on Friday, May 23rd. The Goldman Sachs Group reissued a "neutral" rating on shares of Tesla in a report on Tuesday, April 22nd. Finally, Benchmark reissued a "buy" rating and set a $350.00 target price on shares of Tesla in a research report on Wednesday, April 23rd. Ten research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $293.97.

Tesla Trading Down 14.3%

TSLA stock traded down $47.35 during midday trading on Thursday, reaching $284.70. The company's stock had a trading volume of 280,883,944 shares, compared to its average volume of 99,103,979. The business's 50-day simple moving average is $291.12 and its 200-day simple moving average is $334.34. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. The stock has a market cap of $917.01 billion, a PE ratio of 139.56, a price-to-earnings-growth ratio of 5.86 and a beta of 2.47. Tesla, Inc. has a 52 week low of $167.41 and a 52 week high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its quarterly earnings data 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). Tesla had a net margin of 7.26% and a return on equity of 10.31%. The firm had revenue of $19.34 billion for the quarter, compared to analyst estimates of $22.93 billion. During the same quarter in the prior year, the firm posted $0.45 EPS. As a group, sell-side analysts expect that Tesla, Inc. will post 2.56 EPS for the current year.

Tesla 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.