Delta Investment Management LLC Sells 684 Shares of Tesla, Inc. (NASDAQ:TSLA)

Delta Investment Management LLC lowered its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 7.8% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 8,070 shares of the electric vehicle producer’s stock after selling 684 shares during the period. Delta Investment Management LLC’s holdings in Tesla were worth $3,259,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Hengehold Capital Management LLC raised its stake in shares of Tesla by 1.8% in the fourth quarter. Hengehold Capital Management LLC now owns 1,347 shares of the electric vehicle producer’s stock worth $544,000 after buying an additional 24 shares during the period. Strategic Investment Advisors MI raised its stake in Tesla by 0.3% during the fourth quarter. Strategic Investment Advisors MI now owns 6,990 shares of the electric vehicle producer’s stock valued at $2,823,000 after purchasing an additional 24 shares in the last quarter. Vista Finance LLC increased its stake in Tesla by 0.7% during the fourth quarter. Vista Finance LLC now owns 3,510 shares of the electric vehicle producer’s stock worth $1,417,000 after acquiring an additional 25 shares during the last quarter. Prospect Financial Services LLC boosted its stake in Tesla by 0.3% during the fourth quarter. Prospect Financial Services LLC now owns 7,500 shares of the electric vehicle producer’s stock worth $3,029,000 after buying an additional 26 shares during the period. Finally, Jmac Enterprises LLC raised its position in Tesla by 0.7% in the 4th quarter. Jmac Enterprises LLC now owns 3,884 shares of the electric vehicle producer’s stock worth $1,569,000 after purchasing an additional 26 shares during the period. Institutional investors own 66.20% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on TSLA shares. Needham & Company LLC restated a “hold” rating on shares of Tesla in a report on Wednesday, April 23rd. The Goldman Sachs Group reiterated a “neutral” rating on shares of Tesla in a research note on Tuesday, April 22nd. Glj Research reaffirmed a “sell” rating and set a $19.05 target price (down previously from $24.86) on shares of Tesla in a report on Monday, April 21st. Piper Sandler set a $400.00 target price on Tesla in a report on Tuesday, May 6th. Finally, HSBC dropped their price objective on Tesla from $165.00 to $130.00 and set a “reduce” rating on the stock in a report on Thursday, March 27th. Ten research analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $289.43.

Tesla Trading Down 2.3%

TSLA opened at $342.09 on Tuesday. The firm’s 50 day moving average is $269.23 and its 200-day moving average is $331.30. Tesla, Inc. has a 52-week low of $167.41 and a 52-week high of $488.54. The firm has a market capitalization of $1.10 trillion, a P/E ratio of 167.69, a P/E/G ratio of 5.86 and a beta of 2.43. 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 (NASDAQ:TSLA) last posted its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.26). Tesla had a net margin of 7.26% and a return on equity of 10.31%. The firm had revenue of $19.34 billion for the quarter, compared to analyst estimates of $22.93 billion. During the same period in the previous year, the firm earned $0.45 earnings per share. Analysts expect that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Buying and Selling at Tesla

In related news, CFO Vaibhav Taneja sold 6,000 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $296.02, for a total transaction of $1,776,120.00. Following the completion of the sale, the chief financial officer now owns 23,084 shares in the company, valued at $6,833,325.68. This trade represents a 20.63% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Robyn M. Denholm sold 112,395 shares of the business’s stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $274.12, for a total transaction of $30,809,717.40. Following the completion of the transaction, the director now directly owns 85,000 shares of the company’s stock, valued at approximately $23,300,200. This represents a 56.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 412,623 shares of company stock worth $115,600,501 over the last ninety days. Company insiders own 20.70% 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.