Suvretta Capital Management LLC Reduces Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Suvretta Capital Management LLC lessened its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 15.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 163,630 shares of the electric vehicle producer's stock after selling 30,212 shares during the period. Tesla comprises approximately 2.3% of Suvretta Capital Management LLC's holdings, making the stock its 13th biggest holding. Suvretta Capital Management LLC's holdings in Tesla were worth $66,080,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Horrell Capital Management Inc. increased its position 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 during the last quarter. GS Investments Inc. grew its position in shares of Tesla by 193.3% during the 4th quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer's stock valued at $36,000 after buying an additional 58 shares during the last quarter. Navigoe LLC bought a new stake in shares of Tesla during the 4th quarter valued at about $37,000. CoreFirst Bank & Trust bought a new stake in shares of Tesla during the 4th quarter valued at about $38,000. Finally, Marshall & Sterling Wealth Advisors Inc. bought a new stake in shares of Tesla during the 4th quarter valued at about $39,000. Hedge funds and other institutional investors own 66.20% of the company's stock.

Analysts Set New Price Targets

A number of research firms have issued reports on TSLA. Needham & Company LLC reissued a "hold" rating on shares of Tesla in a research note on Wednesday, April 23rd. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Tesla from $420.00 to $345.00 and set a "buy" rating for the company in a research note on Friday, March 28th. Piper Sandler set a $400.00 target price on shares of Tesla in a research note on Tuesday, May 6th. Argus set a $410.00 price target on shares of Tesla in a research note on Thursday, April 24th. Finally, BNP Paribas set a $137.00 price target on shares of Tesla and gave the stock an "underperform" rating in a research note on Wednesday, April 16th. Ten research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Tesla currently has an average rating of "Hold" and an average price target of $289.43.

Insider Buying and Selling at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of the firm's stock in a transaction on Friday, May 9th. The stock was sold at an average price of $300.00, for a total transaction of $1,200,000.00. Following the transaction, the chief financial officer now directly owns 26,950 shares in the company, valued at approximately $8,085,000. 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 accessible through the SEC website. Also, Director James R. Murdoch sold 54,776 shares of Tesla stock in a transaction dated Monday, March 10th. The stock was 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 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 90 days, insiders sold 412,623 shares of company stock valued at $115,600,501. 20.70% of the stock is currently owned by company insiders.

Tesla Stock Performance

Shares of Tesla stock traded down $7.89 during trading on Monday, reaching $342.09. The company's stock had a trading volume of 88,364,557 shares, compared to its average volume of 97,056,533. The business's 50-day moving average price is $267.35 and its 200-day moving average price is $330.65. The firm has a market cap of $1.10 trillion, a PE ratio of 167.69, a P/E/G ratio of 5.86 and a beta of 2.43. Tesla, Inc. has a 52 week low of $167.41 and a 52 week high of $488.54. The company has a quick ratio of 1.61, a current ratio of 2.02 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 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.26). The firm had revenue of $19.34 billion for the quarter, compared to the consensus estimate 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 company earned $0.45 EPS. Equities analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current 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.