Worth Asset Management LLC Has $925,000 Position in Tesla, Inc. (NASDAQ:TSLA)

Worth Asset Management LLC lowered its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 57.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,570 shares of the electric vehicle producer's stock after selling 4,744 shares during the quarter. Worth Asset Management LLC's holdings in Tesla were worth $925,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in TSLA. Vanguard Group Inc. grew its holdings in shares of Tesla by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 243,193,181 shares of the electric vehicle producer's stock worth $98,211,134,000 after purchasing an additional 3,571,793 shares in the last quarter. Geode Capital Management LLC lifted its position in Tesla by 2.8% in the fourth quarter. Geode Capital Management LLC now owns 61,011,604 shares of the electric vehicle producer's stock valued at $24,566,217,000 after purchasing an additional 1,655,203 shares during the last quarter. Norges Bank bought a new stake in Tesla in the fourth quarter valued at approximately $14,420,248,000. FMR LLC increased its stake in shares of Tesla by 40.1% during the fourth quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer's stock valued at $13,997,660,000 after buying an additional 9,920,325 shares during the period. Finally, Northern Trust Corp increased its stake in shares of Tesla by 21.6% during the fourth quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer's stock valued at $11,541,592,000 after buying an additional 5,075,418 shares during the period. Institutional investors own 66.20% of the company's stock.

Tesla Stock Performance

TSLA traded down $17.85 on Thursday, hitting $314.20. 86,372,668 shares of the company's stock were exchanged, compared to its average volume of 98,374,619. The stock has a fifty day moving average of $291.12 and a two-hundred day moving average of $334.34. Tesla, Inc. has a twelve month low of $167.41 and a twelve month high of $488.54. The firm has a market cap of $1.01 trillion, a PE ratio of 154.02, a P/E/G ratio of 5.86 and a beta of 2.47. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS 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 analyst estimates of $22.93 billion. Tesla had a return on equity of 10.31% and a net margin of 7.26%. During the same period in the prior year, the business posted $0.45 EPS. On average, research analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CFO Vaibhav Taneja sold 4,000 shares of the firm's stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $250.00, for a total value of $1,000,000.00. Following the completion of the transaction, the chief financial officer now owns 26,950 shares in the company, valued at $6,737,500. This trade represents a 12.92% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James R. Murdoch sold 54,776 shares of the firm's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the completion of the sale, the director now owns 477,011 shares of the company's stock, valued at $114,859,478.69. This trade represents a 10.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 870,721 shares of company stock worth $286,248,728 in the last quarter. 20.70% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on TSLA shares. Barclays reduced their target price on Tesla from $325.00 to $275.00 and set an "equal weight" rating on the stock in a research note on Monday, April 21st. Wedbush reissued an "outperform" rating and set a $500.00 target price (up from $350.00) on shares of Tesla in a research note on Friday, May 23rd. Raymond James cut Tesla to an "outperform" rating in a research note on Tuesday, April 22nd. Bank of America reduced their price target on Tesla from $490.00 to $380.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 4th. Finally, Piper Sandler set a $400.00 price target on Tesla in a research note on Tuesday, May 6th. Ten equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $293.97.

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.