Mogy Joel R Investment Counsel Inc. Cuts Holdings in Tesla, Inc. (NASDAQ:TSLA)

Mogy Joel R Investment Counsel Inc. lowered its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 83.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 850 shares of the electric vehicle producer’s stock after selling 4,145 shares during the period. Mogy Joel R Investment Counsel Inc.’s holdings in Tesla were worth $220,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of TSLA. McElhenny Sheffield Capital Management LLC increased its holdings in shares of Tesla by 34.0% in the 1st quarter. McElhenny Sheffield Capital Management LLC now owns 2,221 shares of the electric vehicle producer’s stock valued at $576,000 after acquiring an additional 564 shares during the period. Allen Mooney & Barnes Investment Advisors LLC boosted its position in Tesla by 15.0% during the first quarter. Allen Mooney & Barnes Investment Advisors LLC now owns 2,651 shares of the electric vehicle producer’s stock valued at $687,000 after purchasing an additional 345 shares in the last quarter. Spectrum Asset Management Inc. NB CA grew its stake in Tesla by 63.4% in the first quarter. Spectrum Asset Management Inc. NB CA now owns 920 shares of the electric vehicle producer’s stock valued at $239,000 after purchasing an additional 357 shares during the last quarter. Sterling Financial Group Inc. grew its position in shares of Tesla by 3.3% in the 1st quarter. Sterling Financial Group Inc. now owns 2,782 shares of the electric vehicle producer’s stock worth $721,000 after buying an additional 88 shares during the last quarter. Finally, Ferguson Wellman Capital Management Inc. lifted its position in Tesla by 2.0% during the first quarter. Ferguson Wellman Capital Management Inc. now owns 27,421 shares of the electric vehicle producer’s stock valued at $7,107,000 after acquiring an additional 532 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Trading Up 0.1%

Tesla stock opened at $326.43 on Thursday. The firm has a market cap of $1.05 trillion, a PE ratio of 160.02, a P/E/G ratio of 5.86 and a beta of 2.47. Tesla, Inc. has a 12 month low of $169.80 and a 12 month high of $488.54. The stock’s 50 day simple moving average is $295.60 and its two-hundred day simple moving average is $333.11. 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 analysts’ consensus estimates of $0.53 by ($0.26). The firm had revenue of $19.34 billion for the quarter, compared to analysts’ expectations of $22.93 billion. Tesla had a return on equity of 10.31% and a net margin of 7.26%. During the same period last year, the company posted $0.45 earnings per share. Analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current year.

Wall Street Analysts Forecast Growth

TSLA has been the topic of several analyst reports. Cfra Research lowered shares of Tesla from a “moderate buy” rating to a “hold” rating in a report on Tuesday, April 22nd. Mizuho raised their price objective on Tesla from $325.00 to $390.00 and gave the stock an “outperform” rating in a research report on Friday, May 16th. Argus restated a “hold” rating on shares of Tesla in a research note on Monday. Baird R W cut Tesla from a “strong-buy” rating to a “hold” rating in a research note on Monday. Finally, Barclays lowered their price target on Tesla from $325.00 to $275.00 and set an “equal weight” rating for the company in a report on Monday, April 21st. Ten research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $293.67.

Insiders Place Their Bets

In other Tesla news, Director Ira Matthew Ehrenpreis sold 477,572 shares of the firm’s stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $357.30, for a total value of $170,636,475.60. Following the sale, the director now directly owns 855,394 shares of the company’s stock, valued at approximately $305,632,276.20. This trade represents a 35.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Vaibhav Taneja sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $250.00, for a total value of $1,000,000.00. Following the completion of the sale, the chief financial officer now owns 26,950 shares of the company’s stock, valued at $6,737,500. This trade represents a 12.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 818,509 shares of company stock worth $273,791,775. Company insiders own 20.70% of the company’s stock.

Tesla 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.