Fiduciary Financial Group LLC Lowers Stake in Tesla, Inc. (NASDAQ:TSLA)

Fiduciary Financial Group LLC lowered its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 9.0% in the first quarter, Holdings Channel reports. The institutional investor owned 2,462 shares of the electric vehicle producer’s stock after selling 243 shares during the period. Fiduciary Financial Group LLC’s holdings in Tesla were worth $621,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of TSLA. True Wealth Design LLC raised its stake in Tesla by 79.5% in the 4th quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer’s stock worth $28,000 after acquiring an additional 31 shares during the last quarter. Horrell Capital Management Inc. increased its holdings in shares of Tesla by 75.6% in the fourth quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock valued at $32,000 after purchasing an additional 34 shares during the period. GS Investments Inc. increased its holdings in shares of Tesla by 193.3% in the fourth quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock valued at $36,000 after purchasing an additional 58 shares during the period. Navigoe LLC acquired a new position in shares of Tesla in the fourth quarter valued at about $37,000. Finally, CoreFirst Bank & Trust acquired a new position in shares of Tesla in the fourth quarter valued at about $38,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Wall Street Analysts Forecast Growth

TSLA has been the topic of a number of research reports. Cowen raised Tesla from a “hold” rating to a “buy” rating in a report on Thursday, March 6th. Mizuho increased their price objective on Tesla from $325.00 to $390.00 and gave the company an “outperform” rating in a report on Friday, May 16th. Cfra Research lowered Tesla from a “moderate buy” rating to a “hold” rating in a report on Tuesday, April 22nd. TD Cowen raised Tesla from a “hold” rating to a “buy” rating and increased their price objective for the company from $180.00 to $388.00 in a report on Friday, March 7th. Finally, Glj Research reaffirmed a “sell” rating and set a $19.05 target price (down from $24.86) on shares of Tesla in a report on Monday, April 21st. Ten research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $293.67.

Tesla Stock Performance

NASDAQ TSLA opened at $308.58 on Tuesday. The company has a market cap of $993.92 billion, a PE ratio of 151.27, a price-to-earnings-growth ratio of 5.86 and a beta of 2.47. The stock’s 50 day simple moving average is $292.68 and its 200-day simple moving average is $333.20. Tesla, Inc. has a 1-year low of $167.41 and a 1-year high of $488.54. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61.

Tesla (NASDAQ:TSLA) last released 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). The firm had revenue of $19.34 billion during the quarter, compared to analysts’ expectations of $22.93 billion. Tesla had a net margin of 7.26% and a return on equity of 10.31%. During the same quarter last year, the business earned $0.45 EPS. As a group, equities research analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Activity

In other Tesla news, Director Kimbal Musk sold 91,588 shares of the firm’s stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $357.39, for a total transaction of $32,732,635.32. Following the completion of the sale, the director now owns 1,463,220 shares of the company’s stock, valued at $522,940,195.80. This trade represents a 5.89% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Vaibhav Taneja sold 1,000 shares of Tesla stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $350.00, for a total value of $350,000.00. Following the completion of the sale, the chief financial officer now directly owns 1,950 shares of the company’s stock, valued at $682,500. The trade was a 33.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 818,509 shares of company stock worth $273,791,775 over the last quarter. 20.70% of the stock is currently owned by corporate insiders.

Tesla Company 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.