Mine & Arao Wealth Creation & Management LLC. Sells 375 Shares of Tesla, Inc. (NASDAQ:TSLA)

Mine & Arao Wealth Creation & Management LLC. trimmed its holdings in Tesla, Inc. (NASDAQ:TSLA) by 21.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,404 shares of the electric vehicle producer’s stock after selling 375 shares during the period. Mine & Arao Wealth Creation & Management LLC.’s holdings in Tesla were worth $364,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Norges Bank bought a new stake in shares of Tesla during the fourth quarter valued at approximately $14,420,248,000. FMR LLC grew its stake in Tesla by 40.1% during the fourth quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer’s stock valued at $13,997,660,000 after acquiring an additional 9,920,325 shares in the last quarter. GAMMA Investing LLC increased its holdings in Tesla by 27,378.6% in the 1st quarter. GAMMA Investing LLC now owns 9,812,316 shares of the electric vehicle producer’s stock valued at $2,542,960,000 after acquiring an additional 9,776,607 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Tesla by 4,963.0% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 5,834,707 shares of the electric vehicle producer’s stock worth $2,356,288,000 after purchasing an additional 5,719,466 shares in the last quarter. Finally, Northern Trust Corp lifted its stake in Tesla by 21.6% in the 4th quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer’s stock worth $11,541,592,000 after purchasing an additional 5,075,418 shares in the last quarter. Institutional investors own 66.20% of the company’s stock.

Tesla Stock Performance

TSLA stock opened at $316.90 on Tuesday. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.00 and a quick ratio of 1.54. Tesla, Inc. has a 1-year low of $182.00 and a 1-year high of $488.54. The business has a 50-day moving average price of $323.33 and a 200 day moving average price of $318.52. The company has a market capitalization of $1.02 trillion, a P/E ratio of 174.12, a PEG ratio of 9.33 and a beta of 2.39.

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

Insider Buying and Selling

In other Tesla news, Director Ira Matthew Ehrenpreis sold 477,572 shares of Tesla stock in a transaction dated 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 transaction, the director owned 855,394 shares in the company, valued at $305,632,276.20. The trade was a 35.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kimbal Musk sold 91,588 shares of the stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $357.39, for a total transaction of $32,732,635.32. Following the sale, the director directly owned 1,463,220 shares of the company’s stock, valued at approximately $522,940,195.80. The trade was a 5.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 835,509 shares of company stock worth $279,420,485 in the last three months. Corporate insiders own 20.70% of the company’s stock.

Wall Street Analysts Forecast Growth

TSLA has been the topic of several research reports. Baird R W cut Tesla from a “strong-buy” rating to a “hold” rating in a report on Monday, June 9th. William Blair downgraded Tesla from an “outperform” rating to a “market perform” rating in a research note on Monday, July 7th. Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a research report on Wednesday, April 23rd. UBS Group set a $290.00 target price on shares of Tesla in a report on Monday, June 30th. Finally, Cfra Research downgraded shares of Tesla from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, April 22nd. Ten investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $300.19.

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.