Catalyst Capital Advisors LLC Cuts Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Catalyst Capital Advisors LLC lowered its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 47.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,165 shares of the electric vehicle producer’s stock after selling 1,060 shares during the period. Catalyst Capital Advisors LLC’s holdings in Tesla were worth $302,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of TSLA. Norges Bank purchased a new position in Tesla during the fourth quarter worth approximately $14,420,248,000. FMR LLC raised its stake in Tesla by 40.1% during the fourth 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 raised its stake in Tesla by 27,378.6% during the first quarter. GAMMA Investing LLC now owns 9,812,316 shares of the electric vehicle producer’s stock worth $2,542,960,000 after purchasing an additional 9,776,607 shares during the period. Massachusetts Financial Services Co. MA raised its stake in Tesla by 4,963.0% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,834,707 shares of the electric vehicle producer’s stock worth $2,356,288,000 after purchasing an additional 5,719,466 shares during the period. Finally, Northern Trust Corp raised its stake in Tesla by 21.6% during 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 purchasing an additional 5,075,418 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Price Performance

Shares of TSLA stock opened at $313.56 on Friday. Tesla, Inc. has a 1-year low of $182.00 and a 1-year high of $488.54. The firm has a fifty day moving average of $320.93 and a two-hundred day moving average of $325.92. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.00 and a quick ratio of 1.54. The firm has a market cap of $1.01 trillion, a P/E ratio of 172.29, a P/E/G ratio of 9.17 and a beta of 2.39.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.26). Tesla had a net margin of 6.66% and a return on equity of 9.02%. The business had revenue of $19.34 billion during the quarter, compared to analyst estimates of $22.93 billion. During the same period last year, the firm posted $0.45 earnings per share. As a group, research analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Analyst Ratings Changes

TSLA has been the topic of a number of recent analyst reports. Morgan Stanley reaffirmed an “overweight” rating and set a $410.00 price target on shares of Tesla in a research note on Friday, June 6th. Robert W. Baird reissued a “neutral” rating and issued a $320.00 target price on shares of Tesla in a research note on Monday, June 9th. Deutsche Bank Aktiengesellschaft cut their target price on shares of Tesla from $420.00 to $345.00 and set a “buy” rating on the stock in a research note on Friday, March 28th. Roth Mkm cut their target price on shares of Tesla from $450.00 to $395.00 and set a “buy” rating on the stock in a research note on Wednesday, April 23rd. Finally, JPMorgan Chase & Co. cut their target price on shares of Tesla from $120.00 to $115.00 and set an “underweight” rating on the stock in a research note on Wednesday, April 23rd. Ten research analysts have rated the stock with a sell rating, thirteen have given a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $301.24.

Insiders Place Their Bets

In other news, Director Kimbal Musk sold 91,588 shares of Tesla stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $357.39, for a total value of $32,732,635.32. Following the completion of the transaction, the director directly owned 1,463,220 shares of the company’s stock, valued at approximately $522,940,195.80. The trade was a 5.89% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of Tesla stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $357.30, for a total transaction of $170,636,475.60. Following the completion of the transaction, the director directly owned 855,394 shares of the company’s stock, valued at $305,632,276.20. This trade represents a 35.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 833,509 shares of company stock worth $278,648,925. Corporate insiders own 20.70% of the company’s stock.

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.