Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Morton Capital Management LLC CA

Morton Capital Management LLC CA cut its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 41.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,319 shares of the electric vehicle producer's stock after selling 930 shares during the quarter. Morton Capital Management LLC CA's holdings in Tesla were worth $342,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the stock. True Wealth Design LLC boosted its stake in Tesla by 79.5% during the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock worth $28,000 after buying an additional 31 shares during the last quarter. Horrell Capital Management Inc. increased its position in Tesla by 75.6% during the fourth quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer's stock worth $32,000 after purchasing an additional 34 shares during the last quarter. GS Investments Inc. raised its stake in Tesla by 193.3% during the fourth quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer's stock worth $36,000 after purchasing an additional 58 shares during the period. Navigoe LLC acquired a new position in Tesla in the 4th quarter valued at about $37,000. Finally, CoreFirst Bank & Trust purchased a new stake in shares of Tesla in the 4th quarter valued at approximately $38,000. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on TSLA shares. Cowen upgraded Tesla from a "hold" rating to a "buy" rating in a research report on Thursday, March 6th. Bank of America cut their price objective on Tesla from $490.00 to $380.00 and set a "neutral" rating for the company in a research report on Tuesday, March 4th. Guggenheim reaffirmed a "sell" rating on shares of Tesla in a research note on Friday, June 13th. Stifel Nicolaus set a $450.00 price target on shares of Tesla and gave the company a "buy" rating in a research note on Thursday, April 24th. Finally, Cfra Research cut shares of Tesla from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, April 22nd. Ten research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $293.67.

Insider Buying and Selling

In other 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 transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Xiaotong Zhu sold 15,000 shares of Tesla stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $323.81, for a total transaction of $4,857,150.00. Following the completion of the transaction, the senior vice president now owns 67,600 shares in the company, valued at approximately $21,889,556. This trade represents a 18.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 833,509 shares of company stock worth $278,648,925 in the last 90 days. Company insiders own 20.70% of the company's stock.

Tesla Stock Performance

Shares of TSLA traded up $5.64 during midday trading on Wednesday, reaching $321.99. 94,503,205 shares of the stock were exchanged, compared to its average volume of 100,657,930. The company has a market capitalization of $1.04 trillion, a price-to-earnings ratio of 176.92, a PEG ratio of 12.36 and a beta of 2.47. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.00 and a quick ratio of 1.54. Tesla, Inc. has a twelve month low of $179.66 and a twelve month high of $488.54. The business's 50-day moving average price is $302.42 and its 200 day moving average price is $332.66.

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 for the quarter, missing analysts' consensus estimates of $0.53 by ($0.26). The firm had revenue of $19.34 billion during the quarter, compared to analysts' expectations of $22.93 billion. Tesla had a net margin of 6.66% and a return on equity of 9.02%. During the same quarter in the prior year, the firm posted $0.45 EPS. On average, sell-side analysts expect that Tesla, Inc. will post 2.56 EPS for the current fiscal 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.