Stablepoint Partners LLC Lowers Position in Tesla, Inc. (NASDAQ:TSLA)

Stablepoint Partners LLC cut its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 11.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,664 shares of the electric vehicle producer's stock after selling 1,129 shares during the quarter. Stablepoint Partners LLC's holdings in Tesla were worth $2,245,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the stock. True Wealth Design LLC raised its position in shares of Tesla by 79.5% in the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock valued at $28,000 after purchasing an additional 31 shares during the period. Horrell Capital Management Inc. raised its position in shares of Tesla by 75.6% in the fourth quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer's stock valued at $32,000 after purchasing an additional 34 shares during the period. GS Investments Inc. raised its position in shares of Tesla by 193.3% in the fourth quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer's stock valued at $36,000 after purchasing an additional 58 shares during the period. Navigoe LLC bought a new position in shares of Tesla in the fourth quarter valued at approximately $37,000. Finally, CoreFirst Bank & Trust bought a new position in shares of Tesla in the fourth quarter valued at approximately $38,000. 66.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on TSLA shares. Royal Bank of Canada lowered their price objective on shares of Tesla from $314.00 to $307.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 23rd. Wells Fargo & Company lowered their price objective on shares of Tesla from $135.00 to $130.00 and set an "underweight" rating on the stock in a research note on Friday, March 14th. Argus set a $410.00 price objective on shares of Tesla in a research note on Thursday, April 24th. Bank of America lowered their price objective on shares of Tesla from $490.00 to $380.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 4th. Finally, The Goldman Sachs Group decreased their price target on shares of Tesla from $295.00 to $285.00 and set a "neutral" rating on the stock in a research note on Friday. Ten analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $294.27.

Insider Transactions at Tesla

In related news, Director Ira Matthew Ehrenpreis sold 477,572 shares of the firm'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 transaction of $170,636,475.60. Following the completion of the transaction, the director now owns 855,394 shares of the company's stock, valued at $305,632,276.20. This trade represents a 35.83% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director James R. Murdoch sold 54,776 shares of the firm's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $240.79, for a total value of $13,189,513.04. Following the transaction, the director now directly owns 477,011 shares of the company's stock, valued at approximately $114,859,478.69. This trade represents a 10.30% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 870,721 shares of company stock valued at $286,248,728. Corporate insiders own 20.70% of the company's stock.

Tesla Trading Up 3.7%

TSLA stock traded up $10.44 during trading on Friday, hitting $295.14. 163,425,518 shares of the company traded hands, compared to its average volume of 99,690,029. The firm has a market capitalization of $950.63 billion, a PE ratio of 144.68, a P/E/G ratio of 5.86 and a beta of 2.47. Tesla, Inc. has a 1 year low of $167.41 and a 1 year high of $488.54. The company has a 50-day moving average of $292.17 and a 200-day moving average of $333.62. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.26). Tesla had a return on equity of 10.31% and a net margin of 7.26%. The business had revenue of $19.34 billion during the quarter, compared to analysts' expectations of $22.93 billion. During the same quarter last year, the business posted $0.45 EPS. Analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

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.