Cottage Street Advisors LLC Decreases Position in Tesla, Inc. (NASDAQ:TSLA)

Cottage Street Advisors LLC lessened its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 20.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,017 shares of the electric vehicle producer’s stock after selling 1,025 shares during the period. Cottage Street Advisors LLC’s holdings in Tesla were worth $1,041,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vista Capital Partners Inc. raised its holdings in shares of Tesla by 1.4% in the fourth quarter. Vista Capital Partners Inc. now owns 1,969 shares of the electric vehicle producer’s stock valued at $795,000 after buying an additional 27 shares during the last quarter. Blackston Financial Advisory Group LLC raised its holdings in shares of Tesla by 1.3% in the fourth quarter. Blackston Financial Advisory Group LLC now owns 2,166 shares of the electric vehicle producer’s stock valued at $875,000 after buying an additional 27 shares during the last quarter. Kooman & Associates raised its holdings in shares of Tesla by 2.4% in the fourth quarter. Kooman & Associates now owns 1,188 shares of the electric vehicle producer’s stock valued at $480,000 after buying an additional 28 shares during the last quarter. Rinkey Investments raised its holdings in Tesla by 3.5% during the fourth quarter. Rinkey Investments now owns 860 shares of the electric vehicle producer’s stock worth $347,000 after purchasing an additional 29 shares in the last quarter. Finally, New England Capital Financial Advisors LLC raised its holdings in Tesla by 2.6% during the fourth quarter. New England Capital Financial Advisors LLC now owns 1,195 shares of the electric vehicle producer’s stock worth $483,000 after purchasing an additional 30 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Activity at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the transaction, 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of the stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $357.30, for a total transaction of $170,636,475.60. Following the transaction, the director now directly owns 855,394 shares in the company, valued at approximately $305,632,276.20. This represents a 35.83% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 833,509 shares of company stock valued at $278,648,925. Company insiders own 20.70% of the company’s stock.

Tesla Stock Performance

Shares of TSLA opened at $322.16 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.54 and a current ratio of 2.00. The company has a market capitalization of $1.04 trillion, a price-to-earnings ratio of 177.01, a PEG ratio of 12.04 and a beta of 2.47. The company’s 50 day simple moving average is $306.22 and its 200 day simple moving average is $332.14. Tesla, Inc. has a 1 year low of $180.69 and a 1 year high of $488.54.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data 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 firm had revenue of $19.34 billion for the quarter, compared to analysts’ expectations of $22.93 billion. Tesla had a net margin of 6.66% and a return on equity of 9.02%. During the same period in the previous year, the company posted $0.45 EPS. On average, sell-side analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on TSLA. BNP Paribas set a $137.00 price target on shares of Tesla and gave the stock an “underperform” rating in a report on Wednesday, April 16th. Bank of America cut their price target on shares of Tesla from $490.00 to $380.00 and set a “neutral” rating for the company in a report on Tuesday, March 4th. Stifel Nicolaus set a $450.00 price target on shares of Tesla and gave the stock a “buy” rating in a report on Thursday, April 24th. Cfra Research cut shares of Tesla from a “moderate buy” rating to a “hold” rating in a report on Tuesday, April 22nd. Finally, Needham & Company LLC reissued a “hold” rating on shares of Tesla in a report on Wednesday, April 23rd. Ten equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Tesla currently has an average rating of “Hold” and an average price target of $293.67.

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.