Mountain Capital Investment Advisors Inc. Cuts Position in Tesla, Inc. (NASDAQ:TSLA)

Mountain Capital Investment Advisors Inc. trimmed its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 51.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,352 shares of the electric vehicle producer's stock after selling 16,580 shares during the period. Tesla accounts for 0.7% of Mountain Capital Investment Advisors Inc.'s portfolio, making the stock its 12th biggest position. Mountain Capital Investment Advisors Inc.'s holdings in Tesla were worth $3,984,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Cherry Tree Wealth Management LLC boosted its stake in Tesla by 86.3% in the 1st quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock worth $25,000 after purchasing an additional 44 shares in the last quarter. First PREMIER Bank raised its holdings in Tesla by 79.2% in the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock worth $25,000 after buying an additional 42 shares during the last quarter. Newton One Investments LLC lifted its stake in shares of Tesla by 250.0% in the first quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock worth $27,000 after buying an additional 75 shares in the last quarter. True Wealth Design LLC grew its holdings in shares of Tesla by 79.5% during the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock valued at $28,000 after buying an additional 31 shares during the last quarter. Finally, Horrell Capital Management Inc. increased its holdings in shares of Tesla by 75.6% in the 4th 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 in the last quarter. Hedge funds and other institutional investors own 66.20% of the company's stock.

Tesla Price Performance

Tesla stock traded down $2.09 during mid-day trading on Friday, reaching $313.56. 58,042,302 shares of the company's stock traded hands, compared to its average volume of 101,137,163. Tesla, Inc. has a 12-month low of $182.00 and a 12-month high of $488.54. The company has a quick ratio of 1.54, a current ratio of 2.00 and a debt-to-equity ratio of 0.07. The stock has a 50 day moving average of $320.36 and a two-hundred day moving average of $327.07. The company has a market cap of $1.01 trillion, a price-to-earnings ratio of 172.29, a PEG ratio of 9.17 and a beta of 2.39.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (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 business had revenue of $19.34 billion for the quarter, compared to analysts' expectations of $22.93 billion. During the same quarter in the prior year, the company posted $0.45 earnings per share. Equities analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on TSLA shares. Guggenheim reaffirmed a "sell" rating and set a $175.00 price target on shares of Tesla in a report on Monday, June 23rd. UBS Group set a $290.00 target price on shares of Tesla in a report on Monday. Canaccord Genuity Group reiterated a "buy" rating and set a $303.00 target price on shares of Tesla in a research note on Monday. Mizuho boosted their price target on Tesla from $325.00 to $390.00 and gave the company an "outperform" rating in a research note on Friday, May 16th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Tesla in a research report on Wednesday, April 23rd. Ten research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Tesla currently has an average rating of "Hold" and an average target price of $301.24.

Insider Transactions at Tesla

In related news, CFO Vaibhav Taneja sold 2,564 shares of the business's stock in a transaction on Monday, June 9th. The stock was 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 owned 5,924 shares in the company, valued at $1,692,546.04. The trade was a 30.21% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kimbal Musk sold 91,588 shares of the company's stock in a transaction 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 transaction, the director directly owned 1,463,220 shares in the company, valued at $522,940,195.80. This trade represents a 5.89% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 833,509 shares of company stock worth $278,648,925. 20.70% of the stock is currently owned by insiders.

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.