Truvestments Capital LLC Decreases Holdings in Tesla, Inc. (NASDAQ:TSLA)

Truvestments Capital LLC decreased its holdings in Tesla, Inc. (NASDAQ:TSLA) by 34.4% in the first quarter, Holdings Channel.com reports. The firm owned 940 shares of the electric vehicle producer’s stock after selling 493 shares during the period. Truvestments Capital LLC’s holdings in Tesla were worth $165,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Tesla by 1.7% in the first quarter. Vanguard Group Inc. now owns 233,602,120 shares of the electric vehicle producer’s stock worth $41,064,917,000 after purchasing an additional 3,795,748 shares during the last quarter. Norges Bank bought a new position in shares of Tesla during the fourth quarter valued at $7,844,757,000. Charles Schwab Investment Management Inc. increased its holdings in shares of Tesla by 3.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 15,155,878 shares of the electric vehicle producer’s stock worth $3,765,933,000 after purchasing an additional 458,804 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its position in Tesla by 12.9% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,849,425 shares of the electric vehicle producer’s stock valued at $1,731,430,000 after purchasing an additional 1,125,329 shares during the period. Finally, International Assets Investment Management LLC increased 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 purchasing an additional 6,179,032 shares during the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Tesla Price Performance

Tesla stock traded down $0.45 during midday trading on Friday, reaching $219.80. 94,604,145 shares of the company were exchanged, compared to its average volume of 132,509,544. The firm’s 50-day simple moving average is $205.68 and its 200-day simple moving average is $190.93. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $278.98. The company has a market capitalization of $702.18 billion, a price-to-earnings ratio of 56.07, a P/E/G ratio of 5.49 and a beta of 2.31. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.17 and a current ratio of 1.91.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). The firm had revenue of $25.50 billion for the quarter, compared to analysts’ expectations of $24.38 billion. Tesla had a return on equity of 10.41% and a net margin of 13.00%. The business’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.78 earnings per share. On average, analysts anticipate that Tesla, Inc. will post 1.79 EPS for the current year.

Insiders Place Their Bets

In other news, SVP Xiaotong Zhu sold 650 shares of the firm’s stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $174.21, for a total transaction of $113,236.50. Following the sale, the senior vice president now owns 65,155 shares in the company, valued at $11,350,652.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, SVP Xiaotong Zhu sold 650 shares of the company’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 completion of the transaction, the senior vice president now owns 65,155 shares of the company’s stock, valued at approximately $11,350,652.55. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Robyn M. Denholm sold 93,705 shares of the stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $184.86, for a total transaction of $17,322,306.30. Following the transaction, the director now directly owns 15,000 shares in the company, valued at approximately $2,772,900. The disclosure for this sale can be found here. 25.10% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have recently issued reports on TSLA shares. Robert W. Baird reissued an “outperform” rating and issued a $280.00 price objective on shares of Tesla in a research note on Tuesday, July 16th. Argus reiterated a “buy” rating and set a $286.00 price objective on shares of Tesla in a research report on Friday. Citigroup reduced their price target on shares of Tesla from $274.00 to $258.00 and set a “neutral” rating on the stock in a research note on Wednesday. Barclays cut their target price on shares of Tesla from $225.00 to $220.00 and set an “equal weight” rating on the stock in a research report on Thursday. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a research note on Wednesday. Nine equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $204.30.

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.