TFC Financial Management Inc. Sells 792 Shares of Tesla, Inc. (NASDAQ:TSLA)

TFC Financial Management Inc. decreased its position in Tesla, Inc. (NASDAQ:TSLA) by 8.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,140 shares of the electric vehicle producer’s stock after selling 792 shares during the quarter. Tesla makes up 0.3% of TFC Financial Management Inc.’s portfolio, making the stock its 26th biggest position. TFC Financial Management Inc.’s holdings in Tesla were worth $2,110,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Tesla by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 243,193,181 shares of the electric vehicle producer’s stock worth $98,211,134,000 after acquiring an additional 3,571,793 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Tesla by 2.8% in the fourth quarter. Geode Capital Management LLC now owns 61,011,604 shares of the electric vehicle producer’s stock worth $24,566,217,000 after acquiring an additional 1,655,203 shares during the last quarter. Norges Bank purchased a new stake in shares of Tesla in the fourth quarter worth $14,420,248,000. FMR LLC grew its stake in shares of Tesla by 40.1% in the fourth quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer’s stock worth $13,997,660,000 after acquiring an additional 9,920,325 shares during the last quarter. Finally, Northern Trust Corp grew its stake in shares of Tesla by 21.6% in the fourth quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer’s stock worth $11,541,592,000 after acquiring an additional 5,075,418 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

Tesla Stock Down 0.7%

NASDAQ TSLA opened at $323.63 on Friday. The stock’s 50-day moving average price is $314.93 and its 200-day moving average price is $330.48. The company has a quick ratio of 1.54, a current ratio of 2.00 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a 52 week low of $182.00 and a 52 week high of $488.54. The company has a market capitalization of $1.04 trillion, a P/E ratio of 177.82, a price-to-earnings-growth ratio of 12.18 and a beta of 2.47.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.26). Tesla had a return on equity of 9.02% and a net margin of 6.66%. The company had revenue of $19.34 billion during the quarter, compared to the consensus estimate of $22.93 billion. During the same period last year, the business earned $0.45 EPS. On average, equities research analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Transactions at Tesla

In related news, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the sale, the chief financial officer now owns 26,950 shares of the company’s stock, valued at approximately $6,737,500. This trade represents a 12.92% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Xiaotong Zhu sold 15,000 shares of Tesla stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $323.81, for a total value of $4,857,150.00. Following the sale, the senior vice president now directly owns 67,600 shares in the company, valued at $21,889,556. This trade represents a 18.16% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 833,509 shares of company stock valued at $278,648,925 over the last quarter. 20.70% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on TSLA shares. Needham & Company LLC reissued a “hold” rating on shares of Tesla in a research note on Wednesday, April 23rd. Guggenheim reissued a “sell” rating and issued a $175.00 target price on shares of Tesla in a research note on Monday, June 23rd. BNP Paribas set a $137.00 price objective on Tesla and gave the company an “underperform” rating in a research report on Wednesday, April 16th. Canaccord Genuity Group dropped their price objective on Tesla from $404.00 to $303.00 and set a “buy” rating on the stock in a research report on Wednesday, April 23rd. Finally, Cowen raised Tesla from a “hold” rating to a “buy” rating in a research report on Thursday, March 6th. Ten equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $298.37.

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.