Mainsail Asset Management LLC Lowers Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Mainsail Asset Management LLC lowered its stake in Tesla, Inc. (NASDAQ:TSLA) by 2.1% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,735 shares of the electric vehicle producer’s stock after selling 82 shares during the period. Tesla accounts for about 0.7% of Mainsail Asset Management LLC’s holdings, making the stock its 18th largest holding. Mainsail Asset Management LLC’s holdings in Tesla were worth $968,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. raised its holdings in Tesla by 322.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer’s stock worth $6,891,201,000 after acquiring an additional 20,291,139 shares during the last quarter. Nuveen LLC bought a new stake in shares of Tesla in the 1st quarter worth $3,247,619,000. GAMMA Investing LLC raised its stake in shares of Tesla by 27,378.6% in the first quarter. GAMMA Investing LLC now owns 9,812,316 shares of the electric vehicle producer’s stock worth $2,542,960,000 after purchasing an additional 9,776,607 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of Tesla by 21.6% during the fourth quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer’s stock valued at $11,541,592,000 after purchasing an additional 5,075,418 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of Tesla by 1.5% during the first quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer’s stock valued at $63,983,418,000 after buying an additional 3,694,524 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on TSLA shares. Piper Sandler reissued an “overweight” rating and issued a $400.00 target price on shares of Tesla in a research report on Tuesday, June 10th. The Goldman Sachs Group reduced their price target on shares of Tesla from $315.00 to $285.00 and set a “neutral” rating for the company in a research note on Friday, July 11th. China Renaissance reissued a “hold” rating and set a $349.00 price objective on shares of Tesla in a report on Friday, July 25th. Morgan Stanley restated an “overweight” rating and issued a $410.00 target price on shares of Tesla in a report on Friday, June 6th. Finally, Barclays cut their target price on shares of Tesla from $325.00 to $275.00 and set an “equal weight” rating for the company in a research report on Monday, April 21st. Ten investment analysts have rated the stock with a sell rating, fifteen have given a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $303.31.

Insider Buying and Selling at Tesla

In related news, Director Ira Matthew Ehrenpreis sold 477,572 shares of the firm’s stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $357.30, for a total transaction of $170,636,475.60. Following the sale, the director directly owned 855,394 shares of the company’s stock, valued at $305,632,276.20. This trade represents a 35.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kimbal Musk sold 91,588 shares of Tesla stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $357.39, for a total value of $32,732,635.32. Following the transaction, the director owned 1,463,220 shares of the company’s stock, valued at approximately $522,940,195.80. This represents a 5.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 602,724 shares of company stock valued at $214,176,831 over the last quarter. Insiders own 20.70% of the company’s stock.

Tesla Stock Up 2.3%

Tesla stock opened at $329.61 on Monday. The business’s 50-day simple moving average is $318.68 and its two-hundred day simple moving average is $306.71. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04. The company has a market cap of $1.06 trillion, a PE ratio of 190.53, a PEG ratio of 11.46 and a beta of 2.33. Tesla, Inc. has a fifty-two week low of $194.67 and a fifty-two week high of $488.54.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). Tesla had a net margin of 6.54% and a return on equity of 7.98%. The firm had revenue of $22.50 billion during the quarter, compared to analysts’ expectations of $23.18 billion. During the same quarter in the prior year, the company earned $0.52 EPS. Tesla’s quarterly revenue was down 11.8% on a year-over-year basis. Equities analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current year.

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.