Tesla, Inc. (NASDAQ:TSLA) Stock Holdings Lowered by Morton Capital Management LLC CA

Morton Capital Management LLC CA reduced its holdings in Tesla, Inc. (NASDAQ:TSLA) by 41.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,319 shares of the electric vehicle producer’s stock after selling 930 shares during the quarter. Morton Capital Management LLC CA’s holdings in Tesla were worth $342,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of Tesla by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 243,193,181 shares of the electric vehicle producer’s stock worth $98,211,134,000 after purchasing an additional 3,571,793 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Tesla by 2.8% in the fourth quarter. Geode Capital Management LLC now owns 61,011,604 shares of the electric vehicle producer’s stock worth $24,566,217,000 after acquiring an additional 1,655,203 shares in the last quarter. Norges Bank purchased a new position in shares of Tesla in the fourth quarter worth approximately $14,420,248,000. FMR LLC increased its position in shares of Tesla by 40.1% in the fourth quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer’s stock worth $13,997,660,000 after acquiring an additional 9,920,325 shares in the last quarter. Finally, Northern Trust Corp increased its position in shares of Tesla by 21.6% in the fourth quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer’s stock worth $11,541,592,000 after acquiring an additional 5,075,418 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. The Goldman Sachs Group dropped their target price on shares of Tesla from $295.00 to $285.00 and set a “neutral” rating on the stock in a research report on Friday, June 6th. Stifel Nicolaus set a $450.00 target price on shares of Tesla and gave the stock a “buy” rating in a research report on Thursday, April 24th. Needham & Company LLC reissued a “hold” rating on shares of Tesla in a research report on Wednesday, April 23rd. Piper Sandler reissued an “overweight” rating and issued a $400.00 target price on shares of Tesla in a research report on Tuesday. Finally, Oppenheimer reissued a “mixed” rating on shares of Tesla in a research report on Tuesday, March 18th. Ten investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Tesla currently has an average rating of “Hold” and a consensus target price of $293.67.

Insider Transactions at Tesla

In other news, CFO Vaibhav Taneja sold 1,000 shares of the business’s stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $350.00, for a total value of $350,000.00. Following the completion of the sale, the chief financial officer now directly owns 1,950 shares in the company, valued at approximately $682,500. The trade was a 33.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of the business’s stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $357.30, for a total transaction of $170,636,475.60. Following the completion of the sale, the director now owns 855,394 shares of the company’s stock, valued at $305,632,276.20. The trade was a 35.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 818,509 shares of company stock worth $273,791,775. 20.70% of the stock is owned by insiders.

Tesla Stock Performance

TSLA stock opened at $325.31 on Friday. The firm has a 50 day moving average of $299.39 and a two-hundred day moving average of $332.88. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 12 month low of $177.00 and a 12 month high of $488.54. The company has a market capitalization of $1.05 trillion, a price-to-earnings ratio of 159.47, a P/E/G ratio of 5.86 and a beta of 2.47.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data 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 return on equity of 10.31% and a net margin of 7.26%. The firm had revenue of $19.34 billion during the quarter, compared to analyst estimates of $22.93 billion. During the same quarter in the previous year, the firm posted $0.45 earnings per share. As a group, equities analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current fiscal 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.