Patrick M Sweeney & Associates Inc. Decreases Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Patrick M Sweeney & Associates Inc. lessened its position in Tesla, Inc. (NASDAQ:TSLA) by 5.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,738 shares of the electric vehicle producer’s stock after selling 98 shares during the period. Patrick M Sweeney & Associates Inc.’s holdings in Tesla were worth $450,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of TSLA. Vista Finance LLC grew its stake in shares of Tesla by 0.7% during the fourth quarter. Vista Finance LLC now owns 3,510 shares of the electric vehicle producer’s stock worth $1,417,000 after acquiring an additional 25 shares during the last quarter. Jmac Enterprises LLC boosted its stake in Tesla by 0.7% in the 4th quarter. Jmac Enterprises LLC now owns 3,884 shares of the electric vehicle producer’s stock worth $1,569,000 after purchasing an additional 26 shares in the last quarter. TFB Advisors LLC grew its position in Tesla by 0.5% during the 4th quarter. TFB Advisors LLC now owns 5,213 shares of the electric vehicle producer’s stock worth $2,105,000 after purchasing an additional 27 shares during the last quarter. Vista Capital Partners Inc. increased its stake in Tesla by 1.4% during the 4th quarter. Vista Capital Partners Inc. now owns 1,969 shares of the electric vehicle producer’s stock valued at $795,000 after purchasing an additional 27 shares in the last quarter. Finally, Blackston Financial Advisory Group LLC lifted its stake in shares of Tesla by 1.3% during the fourth quarter. Blackston Financial Advisory Group LLC now owns 2,166 shares of the electric vehicle producer’s stock worth $875,000 after buying an additional 27 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Stifel Nicolaus set a $450.00 target price on Tesla and gave the stock a “buy” rating in a research note on Thursday, April 24th. Royal Bank of Canada decreased their target price on shares of Tesla from $314.00 to $307.00 and set an “outperform” rating for the company in a research report on Wednesday, April 23rd. Benchmark reaffirmed a “buy” rating and set a $350.00 price target on shares of Tesla in a research report on Wednesday, April 23rd. Roth Mkm decreased their price objective on Tesla from $450.00 to $395.00 and set a “buy” rating for the company in a report on Wednesday, April 23rd. Finally, UBS Group dropped their target price on Tesla from $225.00 to $190.00 and set a “sell” rating on the stock in a report on Thursday, April 10th. Ten research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $294.27.

Insider Activity

In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of the business’s stock in a transaction on Monday, April 7th. The stock was sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the sale, the chief financial officer now directly owns 26,950 shares in the company, valued at approximately $6,737,500. The trade was a 12.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kimbal Musk sold 91,588 shares of the stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $357.39, for a total transaction of $32,732,635.32. Following the completion of the sale, the director now directly owns 1,463,220 shares in the company, valued at approximately $522,940,195.80. The trade was a 5.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 815,945 shares of company stock valued at $273,059,215. Company insiders own 20.70% of the company’s stock.

Tesla Stock Up 3.7%

Shares of NASDAQ:TSLA opened at $295.14 on Monday. The firm has a market capitalization of $950.63 billion, a PE ratio of 144.68, a price-to-earnings-growth ratio of 5.86 and a beta of 2.47. Tesla, Inc. has a 1 year low of $167.41 and a 1 year high of $488.54. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. The firm’s 50-day moving average is $292.17 and its two-hundred day moving average is $333.51.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.26). The firm had revenue of $19.34 billion during the quarter, compared to analysts’ expectations of $22.93 billion. Tesla had a net margin of 7.26% and a return on equity of 10.31%. During the same quarter in the prior year, the firm posted $0.45 EPS. Analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

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.