Stage Harbor Financial LLC Cuts Stake in Tesla, Inc. (NASDAQ:TSLA)

Stage Harbor Financial LLC decreased its holdings in Tesla, Inc. (NASDAQ:TSLA) by 13.4% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,119 shares of the electric vehicle producer’s stock after selling 173 shares during the period. Stage Harbor Financial LLC’s holdings in Tesla were worth $290,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in TSLA. Cherry Tree Wealth Management LLC boosted its position in Tesla by 86.3% during the 1st quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer’s stock valued at $25,000 after buying an additional 44 shares during the period. First PREMIER Bank boosted its position in Tesla by 79.2% during the 1st quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer’s stock valued at $25,000 after buying an additional 42 shares during the period. Newton One Investments LLC boosted its position in Tesla by 250.0% during the 1st quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer’s stock valued at $27,000 after buying an additional 75 shares during the period. True Wealth Design LLC boosted its position in Tesla by 79.5% during the 4th quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer’s stock valued at $28,000 after buying an additional 31 shares during the period. Finally, Horrell Capital Management Inc. boosted 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 during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Stock Down 0.7%

NASDAQ:TSLA opened at $313.56 on Friday. 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. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.54 and a current ratio of 2.00. Tesla, Inc. has a fifty-two week low of $182.00 and a fifty-two week high of $488.54. The firm has a 50-day simple moving average of $320.93 and a two-hundred day simple moving average of $325.92.

Tesla (NASDAQ:TSLA) last released 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 net margin of 6.66% and a return on equity of 9.02%. The firm had revenue of $19.34 billion for the quarter, compared to the consensus estimate of $22.93 billion. During the same quarter in the prior year, the business posted $0.45 earnings per share. Analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Kimbal Musk sold 91,588 shares of the business’s stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $357.39, for a total transaction 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 $522,940,195.80. The trade was a 5.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robyn M. Denholm sold 112,395 shares of the business’s stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $274.12, for a total transaction of $30,809,717.40. Following the transaction, the director directly owned 85,000 shares of the company’s stock, valued at $23,300,200. The trade was a 56.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 833,509 shares of company stock valued at $278,648,925 over the last three months. Corporate insiders own 20.70% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on TSLA. BNP Paribas set a $137.00 price target on shares of Tesla and gave the company an “underperform” rating in a research report on Wednesday, April 16th. Wells Fargo & Company dropped their price target on shares of Tesla from $135.00 to $130.00 and set an “underweight” rating for the company in a research report on Friday, March 14th. Raymond James Financial cut shares of Tesla to an “outperform” rating in a research report on Tuesday, April 22nd. TD Cowen upgraded shares of Tesla from a “hold” rating to a “buy” rating and upped their price objective for the stock from $180.00 to $388.00 in a report on Friday, March 7th. Finally, Guggenheim restated a “sell” rating and issued a $175.00 price objective on shares of Tesla in a report on Monday, June 23rd. Ten research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $301.24.

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.