Interchange Capital Partners LLC Trims Holdings in Tesla, Inc. (NASDAQ:TSLA)

Interchange Capital Partners LLC decreased its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 1.6% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 12,020 shares of the electric vehicle producer’s stock after selling 194 shares during the quarter. Tesla comprises 0.9% of Interchange Capital Partners LLC’s holdings, making the stock its 22nd largest position. Interchange Capital Partners LLC’s holdings in Tesla were worth $3,115,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in TSLA. Susquehanna Fundamental Investments LLC acquired a new stake in Tesla during the fourth quarter worth $56,600,000. Means Investment CO. Inc. increased its stake in Tesla by 37.7% during the first quarter. Means Investment CO. Inc. now owns 23,089 shares of the electric vehicle producer’s stock worth $5,984,000 after acquiring an additional 6,323 shares during the last quarter. Focus Financial Network Inc. increased its stake in Tesla by 3.1% during the first quarter. Focus Financial Network Inc. now owns 22,467 shares of the electric vehicle producer’s stock worth $5,823,000 after acquiring an additional 670 shares during the last quarter. Harvard Management Co. Inc. purchased a new position in shares of Tesla during the fourth quarter worth $8,158,000. Finally, Blackston Financial Advisory Group LLC boosted its position in shares of Tesla by 40.4% during the first quarter. Blackston Financial Advisory Group LLC now owns 3,040 shares of the electric vehicle producer’s stock worth $788,000 after buying an additional 874 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Buying and Selling at Tesla

In related news, Director Kimbal Musk sold 91,588 shares of the stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $357.39, for a total value of $32,732,635.32. Following the completion of the sale, the director directly owned 1,463,220 shares in the company, valued at approximately $522,940,195.80. This represents a 5.89% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Vaibhav Taneja sold 2,564 shares of the stock in a transaction on Monday, June 9th. The shares were sold at an average price of $285.71, for a total value of $732,560.44. Following the completion of the sale, the chief financial officer owned 5,924 shares of the company’s stock, valued at approximately $1,692,546.04. This represents a 30.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 829,509 shares of company stock worth $277,648,925. 20.70% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts have recently commented on TSLA shares. Cantor Fitzgerald lowered their price target on Tesla from $425.00 to $355.00 and set an “overweight” rating for the company in a research report on Wednesday, April 23rd. The Goldman Sachs Group lifted their target price on Tesla from $285.00 to $315.00 and gave the company a “neutral” rating in a report on Thursday. Piper Sandler reiterated an “overweight” rating and issued a $400.00 target price on shares of Tesla in a report on Tuesday, June 10th. Royal Bank Of Canada decreased their target price on Tesla from $314.00 to $307.00 and set an “outperform” rating for the company in a report on Wednesday, April 23rd. Finally, Truist Financial set a $280.00 target price on Tesla in a report on Tuesday, April 22nd. Ten investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $301.60.

Tesla Trading Down 0.7%

Shares of TSLA opened at $313.56 on Monday. The stock has a fifty day moving average of $320.93 and a two-hundred day moving average of $324.35. 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 $1.01 trillion, a PE ratio of 172.29, a price-to-earnings-growth ratio of 9.17 and a beta of 2.39. Tesla, Inc. has a fifty-two week low of $182.00 and a fifty-two week high of $488.54.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 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 analyst estimates of $22.93 billion. Tesla had a return on equity of 9.02% and a net margin of 6.66%. During the same quarter in the previous year, the company earned $0.45 earnings per share. As a group, analysts forecast that Tesla, Inc. will post 2.56 EPS for the current year.

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.