Horizon Wealth Management LLC Sells 544 Shares of Tesla, Inc. (NASDAQ:TSLA)

Horizon Wealth Management LLC decreased its holdings in Tesla, Inc. (NASDAQ:TSLA) by 6.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,614 shares of the electric vehicle producer’s stock after selling 544 shares during the quarter. Tesla makes up 0.3% of Horizon Wealth Management LLC’s investment portfolio, making the stock its 25th biggest holding. Horizon Wealth Management LLC’s holdings in Tesla were worth $1,338,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in Tesla in the fourth quarter valued at approximately $7,844,757,000. International Assets Investment Management LLC lifted its position in shares of Tesla by 25,990.7% during the 4th quarter. International Assets Investment Management LLC now owns 6,202,806 shares of the electric vehicle producer’s stock valued at $1,541,273,000 after acquiring an additional 6,179,032 shares during the period. Vanguard Group Inc. boosted its stake in Tesla by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 229,806,372 shares of the electric vehicle producer’s stock worth $57,102,287,000 after acquiring an additional 3,866,361 shares in the last quarter. Morgan Stanley increased its stake in Tesla by 7.8% in the third quarter. Morgan Stanley now owns 30,160,747 shares of the electric vehicle producer’s stock valued at $7,546,823,000 after purchasing an additional 2,177,397 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its holdings in shares of Tesla by 2,101.1% during the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,469,190 shares of the electric vehicle producer’s stock valued at $365,064,000 after purchasing an additional 1,402,443 shares during the period. Institutional investors own 66.20% of the company’s stock.

Tesla Trading Up 7.1 %

TSLA stock traded up $14.01 during trading on Monday, hitting $211.89. 96,644,656 shares of the company traded hands, compared to its average volume of 95,341,406. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.17 and a current ratio of 1.72. The company has a 50-day moving average of $177.80 and a 200-day moving average of $191.38. The firm has a market capitalization of $675.76 billion, a PE ratio of 53.55, a P/E/G ratio of 4.91 and a beta of 2.31. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $299.29.

Tesla (NASDAQ:TSLA) last issued its earnings results on Tuesday, April 23rd. The electric vehicle producer reported $0.35 EPS for the quarter, hitting the consensus estimate of $0.35. The company had revenue of $21.30 billion for the quarter, compared to the consensus estimate of $22.15 billion. Tesla had a net margin of 14.37% and a return on equity of 13.18%. Analysts predict that Tesla, Inc. will post 1.86 earnings per share for the current fiscal year.

Insider Buying and Selling at Tesla

In related news, SVP Xiaotong Zhu sold 650 shares of the business’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $174.21, for a total transaction of $113,236.50. Following the transaction, the senior vice president now owns 65,155 shares in the company, valued at $11,350,652.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Robyn M. Denholm sold 93,705 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $184.86, for a total value of $17,322,306.30. Following the transaction, the director now owns 15,000 shares in the company, valued at approximately $2,772,900. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Xiaotong Zhu sold 650 shares of Tesla stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $174.21, for a total transaction of $113,236.50. Following the completion of the transaction, the senior vice president now directly owns 65,155 shares of the company’s stock, valued at $11,350,652.55. The disclosure for this sale can be found here. 20.90% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on TSLA shares. Evercore ISI decreased their price objective on Tesla from $155.00 to $145.00 and set an “in-line” rating for the company in a report on Monday, April 29th. Stifel Nicolaus initiated coverage on shares of Tesla in a research report on Tuesday, June 25th. They set a “buy” rating and a $265.00 target price for the company. HSBC dropped their price target on shares of Tesla from $138.00 to $120.00 and set a “reduce” rating on the stock in a research report on Wednesday, April 24th. Wells Fargo & Company reissued an “underweight” rating and set a $120.00 price objective on shares of Tesla in a report on Monday. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on Tesla from $123.00 to $136.00 and gave the stock a “hold” rating in a research note on Thursday, April 25th. Seven research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $187.30.

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.