Stephens Consulting LLC Reduces Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Stephens Consulting LLC lowered its holdings in Tesla, Inc. (NASDAQ:TSLA) by 75.6% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 323 shares of the electric vehicle producer’s stock after selling 1,003 shares during the quarter. Stephens Consulting LLC’s holdings in Tesla were worth $57,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. raised its position in Tesla by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 229,806,372 shares of the electric vehicle producer’s stock valued at $57,102,287,000 after purchasing an additional 3,866,361 shares during the last quarter. Norges Bank acquired a new stake in shares of Tesla during the 4th quarter valued at approximately $7,844,757,000. Morgan Stanley boosted its stake in shares of Tesla by 7.8% during the 3rd quarter. Morgan Stanley now owns 30,160,747 shares of the electric vehicle producer’s stock worth $7,546,823,000 after acquiring an additional 2,177,397 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Tesla by 3.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 15,155,878 shares of the electric vehicle producer’s stock worth $3,765,933,000 after acquiring an additional 458,804 shares during the period. Finally, American Century Companies Inc. raised its holdings in shares of Tesla by 0.3% in the third quarter. American Century Companies Inc. now owns 6,702,634 shares of the electric vehicle producer’s stock worth $1,677,133,000 after acquiring an additional 19,887 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Stock Performance

NASDAQ TSLA traded up $0.46 during trading hours on Friday, reaching $197.88. The company’s stock had a trading volume of 95,438,068 shares, compared to its average volume of 68,945,696. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $299.29. The company has a current ratio of 1.72, a quick ratio of 1.17 and a debt-to-equity ratio of 0.04. The business has a 50-day simple moving average of $177.80 and a 200 day simple moving average of $191.38. The stock has a market cap of $631.08 billion, a PE ratio of 50.48, a PEG ratio of 4.91 and a beta of 2.32.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Tuesday, April 23rd. The electric vehicle producer reported $0.35 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.35. Tesla had a return on equity of 13.18% and a net margin of 14.37%. The company had revenue of $21.30 billion for the quarter, compared to analysts’ expectations of $22.15 billion. Equities research analysts predict that Tesla, Inc. will post 1.86 earnings per share for the current fiscal year.

Insider Activity at Tesla

In related news, SVP Xiaotong Zhu sold 650 shares of the firm’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $174.21, for a total transaction of $113,236.50. Following the completion of the transaction, the senior vice president now owns 65,155 shares of the company’s stock, valued at $11,350,652.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, SVP Xiaotong Zhu sold 650 shares of the company’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $174.21, for a total value of $113,236.50. Following the transaction, the senior vice president now owns 65,155 shares in the company, valued at approximately $11,350,652.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robyn M. Denholm sold 93,705 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $184.86, for a total transaction of $17,322,306.30. Following the sale, the director now owns 15,000 shares of the company’s stock, valued at $2,772,900. The disclosure for this sale can be found here. Insiders sold 104,855 shares of company stock worth $19,285,643 in the last 90 days. Corporate insiders own 25.10% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Sanford C. Bernstein reissued an “underperform” rating and issued a $120.00 target price on shares of Tesla in a research note on Monday, June 10th. Jefferies Financial Group decreased their target price on shares of Tesla from $185.00 to $165.00 and set a “hold” rating on the stock in a research report on Wednesday, April 10th. New Street Research reiterated a “buy” rating and issued a $235.00 price target on shares of Tesla in a report on Tuesday, June 25th. Canaccord Genuity Group lowered their price objective on Tesla from $234.00 to $222.00 and set a “buy” rating for the company in a research report on Wednesday, April 24th. Finally, Piper Sandler restated an “overweight” rating and issued a $205.00 price target on shares of Tesla in a report on Monday, April 22nd. Seven investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, Tesla has a consensus rating of “Hold” and a consensus price target of $187.30.

Tesla Company 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.