Catalyst Capital Advisors LLC Trims Position in Tesla, Inc. (NASDAQ:TSLA)

Catalyst Capital Advisors LLC trimmed its holdings in Tesla, Inc. (NASDAQ:TSLA) by 47.6% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 1,165 shares of the electric vehicle producer’s stock after selling 1,060 shares during the period. Catalyst Capital Advisors LLC’s holdings in Tesla were worth $302,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Tesla in the fourth quarter valued at about $56,600,000. Means Investment CO. Inc. raised its holdings in shares of Tesla by 37.7% in the first quarter. Means Investment CO. Inc. now owns 23,089 shares of the electric vehicle producer’s stock valued at $5,984,000 after buying an additional 6,323 shares during the last quarter. Focus Financial Network Inc. raised its holdings in shares of Tesla by 3.1% in the first quarter. Focus Financial Network Inc. now owns 22,467 shares of the electric vehicle producer’s stock valued at $5,823,000 after buying an additional 670 shares during the last quarter. Strategic Family Wealth Counselors L.L.C. raised its holdings in shares of Tesla by 133.7% in the fourth quarter. Strategic Family Wealth Counselors L.L.C. now owns 2,847 shares of the electric vehicle producer’s stock valued at $1,150,000 after buying an additional 1,629 shares during the last quarter. Finally, Harvard Management Co. Inc. purchased a new stake in shares of Tesla in the fourth quarter valued at about $8,158,000. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Stock Down 0.7%

TSLA stock opened at $313.56 on Friday. The company’s 50 day simple moving average is $320.93 and its 200-day simple moving average is $325.92. The firm has a market capitalization of $1.01 trillion, a PE ratio of 172.29, a P/E/G ratio of 9.17 and a beta of 2.39. Tesla, Inc. has a 12 month low of $182.00 and a 12 month high of $488.54. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.00 and a quick ratio of 1.54.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.26). The business had revenue of $19.34 billion during the quarter, compared to analyst estimates of $22.93 billion. Tesla had a net margin of 6.66% and a return on equity of 9.02%. During the same quarter in the prior year, the company earned $0.45 earnings per share. Equities analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently issued reports on TSLA shares. Wells Fargo & Company cut their price target on shares of Tesla from $135.00 to $130.00 and set an “underweight” rating for the company in a report on Friday, March 14th. Barclays cut their price target on shares of Tesla from $325.00 to $275.00 and set an “equal weight” rating for the company in a report on Monday, April 21st. Glj Research reissued a “sell” rating and set a $19.05 price target (down from $24.86) on shares of Tesla in a report on Monday, April 21st. Cantor Fitzgerald cut their price target on shares of Tesla from $425.00 to $355.00 and set an “overweight” rating for the company in a report on Wednesday, April 23rd. Finally, Argus reissued a “hold” rating on shares of Tesla in a report on Monday, June 9th. Ten equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Tesla has a consensus rating of “Hold” and a consensus price target of $301.24.

Insider Buying and Selling at Tesla

In related news, SVP Xiaotong Zhu sold 15,000 shares of the company’s stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $323.81, for a total transaction of $4,857,150.00. Following the transaction, the senior vice president owned 67,600 shares of the company’s stock, valued at approximately $21,889,556. This represents a 18.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Robyn M. Denholm sold 112,395 shares of the company’s stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $274.12, for a total transaction of $30,809,717.40. Following the transaction, the director directly owned 85,000 shares in the company, valued at $23,300,200. The trade was a 56.94% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 833,509 shares of company stock valued at $278,648,925. 20.70% of the stock is owned by corporate 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.