Tesla, Inc. (NASDAQ:TSLA) Position Trimmed by Handelsinvest Investeringsforvaltning

Handelsinvest Investeringsforvaltning trimmed its stake in Tesla, Inc. (NASDAQ:TSLA) by 37.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,203 shares of the electric vehicle producer’s stock after selling 2,521 shares during the quarter. Handelsinvest Investeringsforvaltning’s holdings in Tesla were worth $739,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. Wyrmwood Management LLC purchased a new stake in shares of Tesla during the 4th quarter worth about $25,000. Lam Group Inc. bought a new position in Tesla during the fourth quarter valued at approximately $25,000. Mendota Financial Group LLC lifted its stake in Tesla by 202.2% in the fourth quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock valued at $34,000 after acquiring an additional 91 shares during the last quarter. OLD Point Trust & Financial Services N A acquired a new position in shares of Tesla during the 4th quarter worth $37,000. Finally, Kathleen S. Wright Associates Inc. raised its holdings in shares of Tesla by 111.1% during the 4th quarter. Kathleen S. Wright Associates Inc. now owns 190 shares of the electric vehicle producer’s stock valued at $47,000 after purchasing an additional 100 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Tesla Stock Performance

NASDAQ TSLA opened at $239.15 on Wednesday. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $299.29. The stock has a market cap of $762.70 billion, a PE ratio of 59.00, a PEG ratio of 4.91 and a beta of 2.31. 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 firm’s fifty day moving average price is $179.16 and its two-hundred day moving average price is $191.09.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Tuesday, April 23rd. The electric vehicle producer reported $0.35 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.35. The business had revenue of $21.30 billion for the quarter, compared to analyst estimates of $22.15 billion. Tesla had a return on equity of 13.18% and a net margin of 14.37%. On average, equities analysts expect that Tesla, Inc. will post 1.86 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on TSLA. Wedbush upped their price objective on shares of Tesla from $275.00 to $300.00 and gave the stock an “outperform” rating in a report on Wednesday. Evercore ISI lowered their price objective on Tesla from $155.00 to $145.00 and set an “in-line” rating on the stock in a report on Monday, April 29th. Royal Bank of Canada reduced their target price on Tesla from $293.00 to $227.00 and set an “outperform” rating for the company in a report on Thursday, June 20th. Barclays lowered their price target on Tesla from $225.00 to $180.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 17th. Finally, Canaccord Genuity Group reduced their price objective on shares of Tesla from $234.00 to $222.00 and set a “buy” rating for the company in a research note on Wednesday, April 24th. Seven analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $188.40.

Insider Activity

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