Sage Mountain Advisors LLC Has $6.37 Million Position in Tesla, Inc. (NASDAQ:TSLA)

Sage Mountain Advisors LLC lowered its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 2.9% during the 1st quarter, Holdings Channel.com reports. The firm owned 24,585 shares of the electric vehicle producer’s stock after selling 732 shares during the quarter. Sage Mountain Advisors LLC’s holdings in Tesla were worth $6,371,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Norges Bank acquired a new position in Tesla during the fourth quarter worth $14,420,248,000. FMR LLC raised its holdings in shares of Tesla by 40.1% in the 4th 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. GAMMA Investing LLC raised its holdings in shares of 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 worth $2,542,960,000 after acquiring an additional 9,776,607 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of 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 acquiring an additional 5,719,466 shares during the last quarter. Finally, Northern Trust Corp raised 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 purchasing an additional 5,075,418 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Stock Performance

Shares of Tesla stock opened at $316.90 on Tuesday. The company has a current ratio of 2.00, a quick ratio of 1.54 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $1.02 trillion, a P/E ratio of 174.12, a P/E/G ratio of 9.33 and a beta of 2.39. The business has a fifty day simple moving average of $323.33 and a two-hundred day simple moving average of $318.52. Tesla, Inc. has a 12 month low of $182.00 and a 12 month 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 analysts’ consensus estimates of $0.53 by ($0.26). The company 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 quarter in the previous year, the firm posted $0.45 EPS. On average, equities analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently commented on the company. BNP Paribas set a $137.00 price objective on Tesla and gave the stock an “underperform” rating in a research note on Wednesday, April 16th. Piper Sandler reissued an “overweight” rating and issued a $400.00 price target on shares of Tesla in a research report on Tuesday, June 10th. William Blair downgraded shares of Tesla from an “outperform” rating to a “market perform” rating in a report on Monday, July 7th. Morgan Stanley reiterated an “overweight” rating and issued a $410.00 target price on shares of Tesla in a report on Friday, June 6th. Finally, Benchmark reiterated a “buy” rating and issued a $475.00 target price (up previously from $350.00) on shares of Tesla in a report on Thursday, June 26th. Ten research analysts have rated the stock with a sell rating, fourteen have given a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Tesla presently has a consensus rating of “Hold” and an average price target of $300.19.

Insider Transactions at Tesla

In other Tesla news, Director Ira Matthew Ehrenpreis sold 477,572 shares of the business’s 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 completion of the transaction, the director owned 855,394 shares of the company’s stock, valued at approximately $305,632,276.20. The trade was a 35.83% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Xiaotong Zhu sold 15,000 shares of the business’s stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $323.81, for a total transaction of $4,857,150.00. Following the transaction, the senior vice president directly owned 67,600 shares of the company’s stock, valued at $21,889,556. The trade was a 18.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 835,509 shares of company stock valued at $279,420,485. Insiders own 20.70% of the company’s stock.

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.