Harold Davidson & Associates Inc. lessened its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 32.3% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,186 shares of the electric vehicle producer's stock after selling 1,999 shares during the quarter. Harold Davidson & Associates Inc.'s holdings in Tesla were worth $1,085,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Cherry Tree Wealth Management LLC raised its stake in shares of Tesla by 86.3% during the 1st quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock worth $25,000 after buying an additional 44 shares during the last quarter. First PREMIER Bank raised its stake in shares of Tesla by 79.2% during the 1st 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. Pacific Center for Financial Services raised its stake in shares of Tesla by 1,616.7% during the 4th quarter. Pacific Center for Financial Services now owns 103 shares of the electric vehicle producer's stock worth $42,000 after buying an additional 97 shares during the last quarter. Arcadia Investment Management Corp MI acquired a new position in Tesla in the 1st quarter valued at about $27,000. Finally, Newton One Investments LLC raised its stake in Tesla by 250.0% in the 1st quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock valued at $27,000 after purchasing an additional 75 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company's stock.
Analyst Ratings Changes
TSLA has been the subject of several analyst reports. UBS Group set a $290.00 target price on shares of Tesla in a research note on Monday, June 30th. William Blair reissued a "market perform" rating on shares of Tesla in a research note on Friday, September 5th. Daiwa Capital Markets reissued a "neutral" rating on shares of Tesla in a research note on Sunday, July 27th. Glj Research reissued a "sell" rating on shares of Tesla in a research note on Thursday, July 24th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Tesla in a research note on Thursday, July 24th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, fourteen have assigned a Hold rating and nine have given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $303.00.
Read Our Latest Research Report on Tesla
Insider Transactions at Tesla
In other news, CFO Vaibhav Taneja sold 2,606 shares of the business's stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $352.38, for a total transaction of $918,302.28. Following the completion of the sale, the chief financial officer owned 9,856 shares in the company, valued at approximately $3,473,057.28. The trade was a 20.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director James R. Murdoch sold 120,000 shares of the business's stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $350.29, for a total value of $42,034,800.00. Following the sale, the director owned 697,031 shares of the company's stock, valued at $244,162,988.99. The trade was a 14.69% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 128,606 shares of company stock valued at $44,724,662 in the last quarter. Company insiders own 20.70% of the company's stock.
Tesla Stock Up 6.0%
TSLA opened at $368.81 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55. The stock has a market capitalization of $1.19 trillion, a price-to-earnings ratio of 213.18, a price-to-earnings-growth ratio of 12.13 and a beta of 2.06. The business has a 50-day moving average of $327.25 and a two-hundred day moving average of $302.84. Tesla, Inc. has a 12 month low of $212.11 and a 12 month high of $488.54.
Tesla (NASDAQ:TSLA - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.03). Tesla had a net margin of 6.54% and a return on equity of 7.98%. The business had revenue of $22.50 billion during the quarter, compared to analysts' expectations of $23.18 billion. During the same quarter last year, the firm earned $0.52 EPS. The firm's quarterly revenue was down 11.8% compared to the same quarter last year. On average, research analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current year.
About Tesla
(
Free Report)
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.
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