Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Morton Capital Management LLC CA

Morton Capital Management LLC CA cut its holdings in Tesla, Inc. (NASDAQ:TSLA) by 41.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,319 shares of the electric vehicle producer’s stock after selling 930 shares during the quarter. Morton Capital Management LLC CA’s holdings in Tesla were worth $342,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. True Wealth Design LLC boosted its position in Tesla by 79.5% during the fourth 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. boosted its position in Tesla by 75.6% during the fourth quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock worth $32,000 after acquiring an additional 34 shares during the last quarter. GS Investments Inc. boosted its position in Tesla by 193.3% during the fourth quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock worth $36,000 after acquiring an additional 58 shares during the last quarter. Navigoe LLC acquired a new stake in Tesla during the fourth quarter worth approximately $37,000. Finally, CoreFirst Bank & Trust purchased a new position in Tesla during the fourth quarter worth approximately $38,000. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Tesla Trading Up 1.9%

Shares of NASDAQ:TSLA opened at $325.31 on Friday. The company has a market cap of $1.05 trillion, a PE ratio of 159.47, a P/E/G ratio of 5.86 and a beta of 2.47. The company’s 50-day moving average price is $299.39 and its 200 day moving average price is $332.88. Tesla, Inc. has a fifty-two week low of $177.00 and a fifty-two 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) last issued 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). Tesla had a net margin of 7.26% and a return on equity of 10.31%. The firm had revenue of $19.34 billion during the quarter, compared to the consensus estimate of $22.93 billion. During the same quarter in the prior year, the business earned $0.45 earnings per share. Sell-side analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insiders Place Their Bets

In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of the business’s stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the sale, the chief financial officer now directly owns 26,950 shares in the company, valued at approximately $6,737,500. The trade was a 12.92% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kimbal Musk sold 91,588 shares of the business’s stock in a transaction dated 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 sale, the director now 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. In the last three months, insiders have sold 818,509 shares of company stock worth $273,791,775. 20.70% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in 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 on the stock in a research note on Friday, March 14th. TD Cowen raised shares of Tesla from a “hold” rating to a “buy” rating and increased their price target for the stock from $180.00 to $388.00 in a research note on Friday, March 7th. HSBC cut their price target on shares of Tesla from $165.00 to $130.00 and set a “reduce” rating on the stock in a research note on Thursday, March 27th. Guggenheim reaffirmed a “sell” rating and set a $170.00 price target on shares of Tesla in a research note on Thursday, April 24th. Finally, Benchmark reaffirmed a “buy” rating and set a $350.00 price target on shares of Tesla in a research note on Wednesday, April 23rd. Ten investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $293.67.

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.