Insight Advisors LLC PA Has $1.78 Million Stake in Tesla, Inc. (NASDAQ:TSLA)
Insight Advisors LLC PA reduced its stake in Tesla, Inc. (NASDAQ:TSLA) by 22.9% in Q1, now holding 6,858 shares valued at $1.78 million. Other hedge funds also adjusted their positions, with Vanguard increasing its holdings by 1.5%. Insider trading included CFO Vaibhav Taneja selling 4,000 shares and Director Ira Matthew Ehrenpreis selling 477,572 shares. Analysts have varied ratings on Tesla, with a consensus rating of "Hold" and an average price target of $293.97. Tesla's stock opened at $284.68, with a market cap of $916.94 billion and a PE ratio of 139.55.
Insight Advisors LLC PA trimmed its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 22.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,858 shares of the electric vehicle producer's stock after selling 2,039 shares during the period. Insight Advisors LLC PA's holdings in Tesla were worth $1,777,000 at the end of the most recent quarter.
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A number of other hedge funds also recently made changes to their positions in TSLA. Vanguard Group Inc. lifted its holdings in Tesla by 1.5% during 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 during the last quarter. Geode Capital Management LLC lifted its holdings in Tesla by 2.8% during the 4th quarter. Geode Capital Management LLC now owns 61,011,604 shares of the electric vehicle producer's stock worth $24,566,217,000 after purchasing an additional 1,655,203 shares during the last quarter. Norges Bank acquired a new stake in Tesla during the 4th quarter worth approximately $14,420,248,000. FMR LLC lifted its holdings in 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 last quarter. Finally, Northern Trust Corp lifted its holdings in Tesla by 21.6% during the 4th 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 last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling at Tesla
In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the sale, the chief financial officer now directly owns 26,950 shares of the company's stock, valued at approximately $6,737,500. The trade was a 12.92% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of Tesla stock in a transaction that occurred on 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 transaction, 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. In the last three months, insiders have sold 870,721 shares of company stock valued at $286,248,728. 20.70% of the stock is currently owned by corporate insiders.
Analyst Ratings Changes
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Several analysts recently weighed in on TSLA shares. JPMorgan Chase & Co. dropped their price target on Tesla from $120.00 to $115.00 and set an "underweight" rating for the company in a report on Wednesday, April 23rd. Canaccord Genuity Group dropped their price objective on Tesla from $404.00 to $303.00 and set a "buy" rating for the company in a report on Wednesday, April 23rd. Robert W. Baird dropped their price objective on Tesla from $370.00 to $320.00 and set an "outperform" rating for the company in a report on Wednesday, April 23rd. HSBC dropped their price objective on Tesla from $165.00 to $130.00 and set a "reduce" rating for the company in a report on Thursday, March 27th. Finally, TD Cowen raised Tesla from a "hold" rating to a "buy" rating and lifted their price objective for the company from $180.00 to $388.00 in a report on Friday, March 7th. Ten research analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $293.97.
Read Our Latest Analysis on TSLA
Tesla Stock Down 14.3%
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NASDAQ TSLA opened at $284.68 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. The stock has a market capitalization of $916.94 billion, a PE ratio of 139.55, a PEG ratio of 5.86 and a beta of 2.47. Tesla, Inc. has a 1 year low of $167.41 and a 1 year high of $488.54. The business's 50-day moving average is $291.63 and its 200 day moving average is $333.97.
Tesla (NASDAQ:TSLA - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.26). The business had revenue of $19.34 billion during the quarter, compared to the consensus estimate of $22.93 billion. Tesla had a return on equity of 10.31% and a net margin of 7.26%. During the same period in the previous year, the business earned $0.45 earnings per share. Sell-side analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current year.
Tesla Company Profile
(Free Report)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.
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