McDonough Capital Management Inc Cuts Stake in Tesla, Inc. (NASDAQ:TSLA)

McDonough Capital Management Inc decreased its position in Tesla, Inc. (NASDAQ:TSLA) by 0.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,161 shares of the electric vehicle producer’s stock after selling 127 shares during the period. Tesla comprises 2.9% of McDonough Capital Management Inc’s portfolio, making the stock its 12th largest holding. McDonough Capital Management Inc’s holdings in Tesla were worth $4,447,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in TSLA. Norges Bank purchased a new position in Tesla in the fourth quarter worth $14,420,248,000. FMR LLC grew its stake in shares of Tesla by 40.1% during the 4th quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer’s stock worth $13,997,660,000 after purchasing an additional 9,920,325 shares during the period. GAMMA Investing LLC increased its holdings in shares of Tesla by 27,378.6% in the 1st quarter. GAMMA Investing LLC now owns 9,812,316 shares of the electric vehicle producer’s stock valued at $2,542,960,000 after purchasing an additional 9,776,607 shares in the last quarter. Strategic Financial Concepts LLC increased its holdings in shares of Tesla by 36,790.0% in the 4th quarter. Strategic Financial Concepts LLC now owns 8,660,672 shares of the electric vehicle producer’s stock valued at $3,497,526,000 after purchasing an additional 8,637,195 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its stake in shares of Tesla by 4,963.0% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,834,707 shares of the electric vehicle producer’s stock valued at $2,356,288,000 after purchasing an additional 5,719,466 shares during the period. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Tesla

In other news, CFO Vaibhav Taneja sold 4,000 shares of the firm’s stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $250.00, for a total value of $1,000,000.00. Following the transaction, the chief financial officer now directly owns 26,950 shares in the company, valued at $6,737,500. This trade represents a 12.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Robyn M. Denholm sold 112,395 shares of the business’s stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $274.12, for a total value of $30,809,717.40. Following the sale, the director now owns 85,000 shares of the company’s stock, valued at $23,300,200. The trade was a 56.94% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 815,945 shares of company stock worth $273,059,215. 20.70% of the stock is owned by insiders.

Wall Street Analyst Weigh In

TSLA has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Tesla from $420.00 to $345.00 and set a “buy” rating on the stock in a research report on Friday, March 28th. Canaccord Genuity Group decreased their price target on Tesla from $404.00 to $303.00 and set a “buy” rating on the stock in a research note on Wednesday, April 23rd. BNP Paribas set a $137.00 price objective on Tesla and gave the company an “underperform” rating in a research note on Wednesday, April 16th. Cowen raised Tesla from a “hold” rating to a “buy” rating in a report on Thursday, March 6th. Finally, Mizuho upped their target price on Tesla from $325.00 to $390.00 and gave the company an “outperform” rating in a report on Friday, May 16th. 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Tesla currently has a consensus rating of “Hold” and an average target price of $294.27.

Tesla Price Performance

TSLA opened at $295.14 on Monday. Tesla, Inc. has a 1 year low of $167.41 and a 1 year high of $488.54. The company’s 50 day simple moving average is $292.17 and its 200 day simple moving average is $333.51. The stock has a market capitalization of $950.63 billion, a PE ratio of 144.68, a P/E/G ratio of 5.86 and a beta of 2.47. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share 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 company had revenue of $19.34 billion during the quarter, compared to analyst estimates of $22.93 billion. During the same quarter last year, the business earned $0.45 EPS. As a group, sell-side analysts expect that Tesla, Inc. will post 2.56 EPS for the current year.

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.