QRG Capital Management Inc. Has $100.77 Million Position in Tesla, Inc. (NASDAQ:TSLA)

QRG Capital Management Inc. cut its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 4.3% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 388,816 shares of the electric vehicle producer’s stock after selling 17,403 shares during the period. Tesla accounts for about 1.0% of QRG Capital Management Inc.’s investment portfolio, making the stock its 13th biggest holding. QRG Capital Management Inc.’s holdings in Tesla were worth $100,765,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Wealth Group Ltd. bought a new stake in Tesla in the fourth quarter valued at approximately $275,000. Tallon Kerry Patrick bought a new stake in Tesla in the fourth quarter valued at approximately $374,000. Eagle Capital Management LLC bought a new stake in Tesla in the fourth quarter valued at approximately $331,000. Brighton Jones LLC raised its stake in Tesla by 11.8% in the fourth quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer’s stock valued at $35,509,000 after buying an additional 9,293 shares during the period. Finally, Revolve Wealth Partners LLC raised its stake in Tesla by 21.2% in the fourth quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer’s stock valued at $2,147,000 after buying an additional 931 shares during the period. 66.20% of the stock is owned by institutional investors and hedge funds.

Tesla Stock Performance

TSLA stock opened at $325.31 on Monday. The stock has a 50-day moving average price of $299.39 and a 200-day moving average price of $332.88. Tesla, Inc. has a 1-year low of $177.00 and a 1-year high of $488.54. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. The firm has a market cap of $1.05 trillion, a PE ratio of 159.47, a price-to-earnings-growth ratio of 5.86 and a beta of 2.47.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.26). Tesla had a return on equity of 10.31% and a net margin of 7.26%. The business had revenue of $19.34 billion during the quarter, compared to the consensus estimate of $22.93 billion. During the same period last year, the business posted $0.45 earnings per share. As a group, equities research analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Buying and Selling at Tesla

In other Tesla news, Director Ira Matthew Ehrenpreis sold 477,572 shares of the business’s stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $357.30, for a total transaction of $170,636,475.60. Following the sale, the director now owns 855,394 shares of the company’s stock, valued at $305,632,276.20. The trade was a 35.83% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Vaibhav Taneja sold 2,564 shares of the business’s stock in a transaction on Monday, June 9th. The shares were sold at an average price of $285.71, for a total transaction of $732,560.44. Following the sale, the chief financial officer now directly owns 5,924 shares in the company, valued at $1,692,546.04. The trade was a 30.21% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 818,509 shares of company stock worth $273,791,775. Insiders own 20.70% of the company’s stock.

Wall Street Analyst Weigh In

TSLA has been the topic of a number of recent research reports. Wells Fargo & Company lowered their target price on Tesla from $135.00 to $130.00 and set an “underweight” rating on the stock in a research note on Friday, March 14th. Morgan Stanley reiterated an “overweight” rating and set a $410.00 target price on shares of Tesla in a research note on Friday, June 6th. Raymond James lowered Tesla to an “outperform” rating in a research note on Tuesday, April 22nd. Canaccord Genuity Group lowered their target price on Tesla from $404.00 to $303.00 and set a “buy” rating on the stock in a research note on Wednesday, April 23rd. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a research note on Wednesday, April 23rd. Ten equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $293.67.

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.