ERn Financial LLC Reduces Stake in Tesla, Inc. (NASDAQ:TSLA)

ERn Financial LLC reduced its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 2.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,858 shares of the electric vehicle producer’s stock after selling 277 shares during the period. ERn Financial LLC’s holdings in Tesla were worth $3,591,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the business. United Advisor Group LLC raised its position in Tesla by 1.6% during the first quarter. United Advisor Group LLC now owns 12,630 shares of the electric vehicle producer’s stock valued at $3,273,000 after purchasing an additional 193 shares in the last quarter. ORG Wealth Partners LLC boosted its stake in shares of Tesla by 336.3% during the first quarter. ORG Wealth Partners LLC now owns 4,795 shares of the electric vehicle producer’s stock valued at $1,287,000 after purchasing an additional 3,696 shares during the period. HCR Wealth Advisors grew its holdings in Tesla by 5.6% in the 1st quarter. HCR Wealth Advisors now owns 15,057 shares of the electric vehicle producer’s stock worth $3,902,000 after acquiring an additional 798 shares during the last quarter. Sterling Investment Counsel LLC increased its holdings in Tesla by 28.3% during the 1st quarter. Sterling Investment Counsel LLC now owns 2,930 shares of the electric vehicle producer’s stock valued at $759,000 after purchasing an additional 646 shares during the period. Finally, Hamilton Capital Partners LLC increased its stake in shares of Tesla by 32.3% during the first quarter. Hamilton Capital Partners LLC now owns 63,833 shares of the electric vehicle producer’s stock valued at $16,545,000 after buying an additional 15,598 shares during the period. 66.20% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

TSLA has been the subject of a number of research reports. Royal Bank Of Canada decreased their price target on shares of Tesla from $314.00 to $307.00 and set an “outperform” rating for the company in a research note on Wednesday, April 23rd. Cfra Research cut Tesla from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, April 22nd. Bank of America decreased their target price on shares of Tesla from $490.00 to $380.00 and set a “neutral” rating for the company in a report on Tuesday, March 4th. Mizuho increased their price objective on Tesla from $325.00 to $390.00 and gave the company an “outperform” rating in a research report on Friday, May 16th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target 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. Ten investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $293.67.

Tesla Trading Up 1.8%

Shares of TSLA stock opened at $322.05 on Friday. The stock has a fifty day simple moving average of $304.81 and a two-hundred day simple moving average of $332.35. Tesla, Inc. has a 52-week low of $179.66 and a 52-week high of $488.54. The firm has a market capitalization of $1.04 trillion, a PE ratio of 176.95, a PEG ratio of 12.04 and a beta of 2.47. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.54 and a current ratio of 2.00.

Tesla (NASDAQ:TSLA) last issued its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.26). Tesla had a net margin of 6.66% and a return on equity of 9.02%. The business had revenue of $19.34 billion for the quarter, compared to the consensus estimate of $22.93 billion. During the same period last year, the business posted $0.45 EPS. On average, analysts predict that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Transactions at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction that occurred on 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 sale, the chief financial officer now owns 26,950 shares of the company’s stock, valued at $6,737,500. The trade was a 12.92% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Kimbal Musk sold 91,588 shares of the company’s stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $357.39, for a total value of $32,732,635.32. Following the sale, the director now directly owns 1,463,220 shares in the company, valued at $522,940,195.80. This trade represents a 5.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 833,509 shares of company stock valued at $278,648,925. 20.70% of the stock is currently owned by corporate insiders.

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.