Lewis Asset Management LLC Sells 560 Shares of Tesla, Inc. (NASDAQ:TSLA)

Lewis Asset Management LLC decreased its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 21.1% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,088 shares of the electric vehicle producer’s stock after selling 560 shares during the quarter. Lewis Asset Management LLC’s holdings in Tesla were worth $541,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in TSLA. Norges Bank purchased a new stake in shares of Tesla in the 4th quarter valued at $14,420,248,000. FMR LLC lifted its stake 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 valued at $13,997,660,000 after purchasing an additional 9,920,325 shares during the period. GAMMA Investing LLC lifted its stake 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 valued at $2,542,960,000 after purchasing an additional 9,776,607 shares during the period. Massachusetts Financial Services Co. MA raised its position in Tesla by 4,963.0% during the fourth 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 period. Finally, Northern Trust Corp increased its position in Tesla by 21.6% during 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 own 66.20% of the company’s stock.

Tesla Price Performance

Tesla stock opened at $329.65 on Monday. 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 company has a market capitalization of $1.06 trillion, a PE ratio of 181.13, a P/E/G ratio of 12.56 and a beta of 2.39. Tesla, Inc. has a 12 month low of $182.00 and a 12 month high of $488.54. The stock has a 50-day moving average price of $326.27 and a two-hundred day moving average price of $316.26.

Tesla (NASDAQ:TSLA) last announced its earnings results 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 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 period in the previous year, the firm earned $0.45 EPS. Analysts expect that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Buying and Selling

In other news, 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 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. This represents a 35.83% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Xiaotong Zhu sold 15,000 shares of the stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $323.81, for a total value of $4,857,150.00. Following the completion of the transaction, the senior vice president directly owned 67,600 shares of the company’s stock, valued at $21,889,556. This represents a 18.16% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 835,509 shares of company stock valued at $279,420,485. 20.70% of the stock is owned by company insiders.

Analysts Set New Price Targets

TSLA has been the topic of several recent research reports. Raymond James Financial cut shares of Tesla to an “outperform” rating in a research note on Tuesday, April 22nd. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Tesla from $420.00 to $345.00 and set a “buy” rating on the stock in a research note on Friday, March 28th. Piper Sandler reaffirmed an “overweight” rating and set a $400.00 price target on shares of Tesla in a research note on Tuesday, June 10th. Barclays decreased their price target on shares of Tesla from $325.00 to $275.00 and set an “equal weight” rating on the stock in a research note on Monday, April 21st. Finally, Royal Bank Of Canada decreased their price target on shares of Tesla from $314.00 to $307.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 23rd. Ten research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $300.19.

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.