Tairen Capital Ltd Decreases Stake in Tesla, Inc. (NASDAQ:TSLA)

Tairen Capital Ltd trimmed its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 99.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,050 shares of the electric vehicle producer's stock after selling 654,438 shares during the period. Tairen Capital Ltd's holdings in Tesla were worth $424,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. True Wealth Design LLC raised its holdings 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 purchasing an additional 31 shares in the last quarter. Horrell Capital Management Inc. raised its holdings 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 in the last quarter. GS Investments Inc. raised its holdings 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 in the last quarter. Navigoe LLC acquired a new stake in Tesla during the fourth quarter worth approximately $37,000. Finally, CoreFirst Bank & Trust acquired a new stake in Tesla during the fourth quarter worth approximately $38,000. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Tesla Price Performance

Shares of NASDAQ:TSLA traded down $9.20 during midday trading on Wednesday, hitting $334.62. 101,809,426 shares of the stock were exchanged, compared to its average volume of 97,284,855. The stock has a market cap of $1.08 trillion, a P/E ratio of 164.03, a PEG ratio of 5.86 and a beta of 2.43. 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, Inc. has a twelve month low of $167.41 and a twelve month high of $488.54. The company has a 50 day moving average price of $271.29 and a 200-day moving average price of $331.39.

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 for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $22.93 billion. During the same period in the previous year, the firm posted $0.45 EPS. On average, research analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current year.

Wall Street Analysts Forecast Growth

TSLA has been the topic of a number of research analyst reports. Royal Bank of Canada cut their price objective on shares of Tesla from $314.00 to $307.00 and set an "outperform" rating on the stock in a report on Wednesday, April 23rd. Glj Research reiterated a "sell" rating and issued a $19.05 price target (down previously from $24.86) on shares of Tesla in a research report on Monday, April 21st. Bank of America decreased their price target on shares of Tesla from $490.00 to $380.00 and set a "neutral" rating for the company in a research note on Tuesday, March 4th. Cfra Research lowered shares of Tesla from a "moderate buy" rating to a "hold" rating in a research note on Tuesday, April 22nd. Finally, The Goldman Sachs Group reaffirmed a "neutral" rating on shares of Tesla in a report on Tuesday, April 22nd. Ten research 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 assigned a strong buy rating to the stock. According to MarketBeat, Tesla presently has a consensus rating of "Hold" and a consensus price target of $289.43.

Insider Activity at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 6,000 shares of Tesla stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $296.02, for a total value of $1,776,120.00. Following the completion of the sale, the chief financial officer now owns 23,084 shares in the company, valued at $6,833,325.68. The trade was a 20.63% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director James R. Murdoch sold 54,776 shares of Tesla stock in a transaction dated 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 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 position. The disclosure for this sale can be found here. In the last quarter, insiders sold 415,623 shares of company stock valued at $116,650,831. 20.70% of the stock is owned by insiders.

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.