Hurley Capital LLC Sells 632 Shares of Tesla, Inc. (NASDAQ:TSLA)

Hurley Capital LLC reduced its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 45.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 761 shares of the electric vehicle producer’s stock after selling 632 shares during the quarter. Hurley Capital LLC’s holdings in Tesla were worth $197,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Rinkey Investments increased its stake in Tesla by 3.5% during the 4th quarter. Rinkey Investments now owns 860 shares of the electric vehicle producer’s stock worth $347,000 after purchasing an additional 29 shares in the last quarter. True Wealth Design LLC increased its stake in Tesla by 79.5% during the 4th quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer’s stock worth $28,000 after purchasing an additional 31 shares in the last quarter. Aldebaran Financial Inc. increased its stake in Tesla by 3.1% during the 4th quarter. Aldebaran Financial Inc. now owns 1,174 shares of the electric vehicle producer’s stock worth $490,000 after purchasing an additional 35 shares in the last quarter. Acorn Wealth Advisors LLC increased its stake in Tesla by 1.9% during the 1st quarter. Acorn Wealth Advisors LLC now owns 1,901 shares of the electric vehicle producer’s stock worth $493,000 after purchasing an additional 36 shares in the last quarter. Finally, Capital Management Associates Inc increased its stake in Tesla by 3.4% during the 1st quarter. Capital Management Associates Inc now owns 1,166 shares of the electric vehicle producer’s stock worth $302,000 after purchasing an additional 38 shares in the last quarter. 66.20% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Roth Mkm lowered their target price on Tesla from $450.00 to $395.00 and set a “buy” rating for the company in a research note on Wednesday, April 23rd. William Blair downgraded Tesla from an “outperform” rating to a “market perform” rating in a research report on Monday, July 7th. Robert W. Baird reaffirmed a “neutral” rating and set a $320.00 price target on shares of Tesla in a research report on Monday, June 9th. Stifel Nicolaus set a $450.00 price target on Tesla and gave the stock a “buy” rating in a research report on Thursday, April 24th. Finally, Barclays reduced their price target on 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 equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Tesla currently has an average rating of “Hold” and a consensus price target of $302.75.

Tesla Stock Up 3.0%

Shares of NASDAQ TSLA opened at $325.59 on Tuesday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04. Tesla, Inc. has a 52 week low of $182.00 and a 52 week high of $488.54. The stock has a market capitalization of $1.05 trillion, a P/E ratio of 188.20, a PEG ratio of 9.93 and a beta of 2.39. The stock’s fifty day moving average is $324.37 and its 200 day moving average is $313.04.

Tesla (NASDAQ:TSLA) last issued its quarterly 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 return on equity of 7.98% and a net margin of 6.54%. The company had revenue of $22.50 billion during the quarter, compared to the consensus estimate of $23.18 billion. During the same quarter in the previous year, the business posted $0.52 EPS. The firm’s revenue for the quarter was down 11.8% on a year-over-year basis. Sell-side analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Kimbal Musk sold 91,588 shares of the firm’s stock in a transaction dated 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 sale, the director directly owned 1,463,220 shares of the company’s stock, valued at $522,940,195.80. This trade represents a 5.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Xiaotong Zhu sold 15,000 shares of the firm’s stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $323.81, for a total value of $4,857,150.00. Following the completion of the sale, the senior vice president directly owned 67,600 shares in the company, valued at $21,889,556. This trade represents 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 sold 723,119 shares of company stock valued at $247,324,149. 20.70% of the stock is owned by corporate insiders.

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.