Woodmont Investment Counsel LLC trimmed its holdings in shares of Tesla, Inc. (NASDAQ:TSLA – Free Report) by 55.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,712 shares of the electric vehicle producer’s stock after selling 2,100 shares during the period. Woodmont Investment Counsel LLC’s holdings in Tesla were worth $301,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of TSLA. Wyrmwood Management LLC purchased a new position in shares of Tesla during the 4th quarter worth approximately $25,000. Lam Group Inc. purchased a new position in Tesla in the 4th quarter valued at approximately $25,000. Mendota Financial Group LLC increased its stake in Tesla by 202.2% in the 4th quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock valued at $34,000 after purchasing an additional 91 shares in the last quarter. OLD Point Trust & Financial Services N A purchased a new position in Tesla in the 4th quarter valued at approximately $37,000. Finally, Kathleen S. Wright Associates Inc. increased its stake in Tesla by 111.1% in the 4th quarter. Kathleen S. Wright Associates Inc. now owns 190 shares of the electric vehicle producer’s stock valued at $47,000 after purchasing an additional 100 shares in the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.
Tesla Trading Up 10.2 %
Shares of TSLA opened at $231.26 on Wednesday. The stock’s 50-day moving average is $179.16 and its two-hundred day moving average is $191.09. The stock has a market cap of $737.53 billion, a PE ratio of 59.00, a P/E/G ratio of 4.91 and a beta of 2.31. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $299.29. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.72 and a quick ratio of 1.17.
Tesla (NASDAQ:TSLA – Get Free Report) last released its quarterly earnings results on Tuesday, April 23rd. The electric vehicle producer reported $0.35 EPS for the quarter, hitting the consensus estimate of $0.35. Tesla had a return on equity of 13.18% and a net margin of 14.37%. The business had revenue of $21.30 billion for the quarter, compared to analysts’ expectations of $22.15 billion. Equities analysts forecast that Tesla, Inc. will post 1.86 earnings per share for the current fiscal year.
Analysts Set New Price Targets
Several research firms recently weighed in on TSLA. Sanford C. Bernstein reaffirmed an “underperform” rating and issued a $120.00 price objective on shares of Tesla in a research note on Monday, June 10th. Cantor Fitzgerald reissued an “overweight” rating and set a $230.00 price target on shares of Tesla in a research report on Monday. JPMorgan Chase & Co. dropped their price target on Tesla from $130.00 to $115.00 and set an “underweight” rating for the company in a research report on Wednesday, April 3rd. Mizuho dropped their price target on Tesla from $195.00 to $180.00 and set a “neutral” rating for the company in a research report on Wednesday, April 24th. Finally, Oppenheimer reissued a “market perform” rating on shares of Tesla in a research report on Tuesday. Seven equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $187.30.
Get Our Latest Research Report on TSLA
Insider Buying and Selling
In related news, SVP Xiaotong Zhu sold 650 shares of the business’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $174.21, for a total value of $113,236.50. Following the transaction, the senior vice president now owns 65,155 shares in the company, valued at $11,350,652.55. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, Director Robyn M. Denholm sold 93,705 shares of the business’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $184.86, for a total value of $17,322,306.30. Following the completion of the sale, the director now directly owns 15,000 shares of the company’s stock, valued at $2,772,900. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Xiaotong Zhu sold 650 shares of the business’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $174.21, for a total value of $113,236.50. Following the completion of the sale, the senior vice president now directly owns 65,155 shares of the company’s stock, valued at $11,350,652.55. The disclosure for this sale can be found here. Insiders own 20.90% of the company’s stock.
About Tesla
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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