Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Centre Asset Management LLC

Centre Asset Management LLC lowered its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 5.2% during the first quarter, Holdings Channel reports. The firm owned 21,553 shares of the electric vehicle producer’s stock after selling 1,176 shares during the period. Centre Asset Management LLC’s holdings in Tesla were worth $5,586,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TSLA. True Wealth Design LLC grew its position in shares of Tesla by 79.5% during the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer’s stock worth $28,000 after acquiring an additional 31 shares during the last quarter. Horrell Capital Management Inc. grew its position in shares of Tesla by 75.6% during the fourth quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock worth $32,000 after acquiring an additional 34 shares during the last quarter. GS Investments Inc. grew its position in shares of Tesla by 193.3% during the fourth quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock worth $36,000 after acquiring an additional 58 shares during the last quarter. Navigoe LLC purchased a new position in shares of Tesla during the fourth quarter worth approximately $37,000. Finally, CoreFirst Bank & Trust purchased a new position in shares of Tesla during the fourth quarter worth approximately $38,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Stock Down 1.7%

TSLA stock opened at $356.90 on Thursday. The company has a market cap of $1.15 trillion, a P/E ratio of 174.95, a P/E/G ratio of 5.86 and a beta of 2.43. Tesla, Inc. has a 52 week low of $167.41 and a 52 week high of $488.54. The company’s 50-day moving average price is $284.09 and its 200 day moving average price is $333.75. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last announced its quarterly 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). Tesla had a net margin of 7.26% and a return on equity of 10.31%. The business had revenue of $19.34 billion during the quarter, compared to analysts’ expectations of $22.93 billion. During the same period last year, the company earned $0.45 EPS. On average, research analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Barclays lowered their target price on shares of Tesla from $325.00 to $275.00 and set an “equal weight” rating on the stock in a research report on Monday, April 21st. UBS Group lowered their target price on shares of Tesla from $225.00 to $190.00 and set a “sell” rating on the stock in a research report on Thursday, April 10th. Stifel Nicolaus set a $450.00 target price on shares of Tesla and gave the stock a “buy” rating in a research report on Thursday, April 24th. Mizuho lifted their price objective on shares of Tesla from $325.00 to $390.00 and gave the company an “outperform” rating in a research report on Friday, May 16th. Finally, Wells Fargo & Company lowered their price objective on shares of Tesla from $135.00 to $130.00 and set an “underweight” rating on the stock in a research report on Friday, March 14th. Ten research analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $293.97.

Insider Buying and Selling at Tesla

In other Tesla news, Director Joseph Gebbia purchased 4,000 shares of Tesla stock in a transaction on Thursday, April 24th. The shares were bought at an average price of $256.31 per share, with a total value of $1,025,240.00. Following the completion of the acquisition, the director now directly owns 4,111 shares of the company’s stock, valued at approximately $1,053,690.41. This trade represents a 3,603.60% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James R. Murdoch sold 54,776 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the completion of the transaction, the director now directly owns 477,011 shares of the company’s stock, valued at approximately $114,859,478.69. This represents a 10.30% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 415,623 shares of company stock valued at $116,650,831 over the last quarter. 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.