Tesla, Inc. (NASDAQ:TSLA) is Prime Capital Management Co Ltd’s Largest Position

Prime Capital Management Co Ltd trimmed its position in Tesla, Inc. (NASDAQ:TSLA) by 32.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 848,884 shares of the electric vehicle producer’s stock after selling 407,364 shares during the quarter. Tesla accounts for 50.7% of Prime Capital Management Co Ltd’s holdings, making the stock its largest holding. Prime Capital Management Co Ltd’s holdings in Tesla were worth $342,813,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Horrell Capital Management Inc. increased its position in Tesla by 75.6% during the 4th quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock valued at $32,000 after buying an additional 34 shares in the last quarter. GS Investments Inc. increased its position in Tesla by 193.3% during the 4th quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock valued at $36,000 after buying an additional 58 shares in the last quarter. Navigoe LLC acquired a new position in Tesla during the 4th quarter valued at about $37,000. CoreFirst Bank & Trust acquired a new position in Tesla during the 4th quarter valued at about $38,000. Finally, Marshall & Sterling Wealth Advisors Inc. acquired a new position in Tesla during the 4th quarter valued at about $39,000. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Tesla Stock Performance

Shares of Tesla stock opened at $347.68 on Thursday. Tesla, Inc. has a one year low of $167.41 and a one year high of $488.54. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. The company has a market cap of $1.12 trillion, a price-to-earnings ratio of 170.43, a PEG ratio of 5.86 and a beta of 2.43. The business’s 50 day moving average price is $262.55 and its 200 day moving average price is $328.41.

Tesla (NASDAQ:TSLA) last posted its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.26). Tesla had a net margin of 7.26% and a return on equity of 10.31%. The business had revenue of $19.34 billion during the quarter, compared to analysts’ expectations of $22.93 billion. During the same quarter in the prior year, the firm earned $0.45 EPS. On average, research analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

Wall Street Analyst Weigh In

TSLA has been the topic of a number of research reports. JPMorgan Chase & Co. cut their price objective on Tesla from $120.00 to $115.00 and set an “underweight” rating on the stock in a report on Wednesday, April 23rd. The Goldman Sachs Group reaffirmed a “neutral” rating on shares of Tesla in a report on Tuesday, April 22nd. Barclays dropped their target price on Tesla from $325.00 to $275.00 and set an “equal weight” rating on the stock in a report on Monday, April 21st. HSBC dropped their price objective on Tesla from $165.00 to $130.00 and set a “reduce” rating on the stock in a report on Thursday, March 27th. Finally, Robert W. Baird dropped their price objective on Tesla from $370.00 to $320.00 and set an “outperform” rating on the stock in a report on Wednesday, April 23rd. Ten research analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $287.46.

Insider Buying and Selling at Tesla

In related news, CFO Vaibhav Taneja sold 4,000 shares of the business’s stock in a transaction on Friday, May 9th. The stock was sold at an average price of $300.00, for a total value of $1,200,000.00. Following the sale, the chief financial officer now owns 26,950 shares in the company, valued at approximately $8,085,000. 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 hyperlink. Also, Director Robyn M. Denholm sold 112,390 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $299.61, for a total value of $33,673,167.90. Following the completion of the sale, the director now owns 85,000 shares in the company, valued at $25,466,850. This represents a 56.94% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 412,623 shares of company stock worth $115,600,501 over the last quarter. 20.70% of the stock is currently owned by company insiders.

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.