Stage Harbor Financial LLC Sells 173 Shares of Tesla, Inc. (NASDAQ:TSLA)

Stage Harbor Financial LLC trimmed its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 13.4% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 1,119 shares of the electric vehicle producer’s stock after selling 173 shares during the quarter. Stage Harbor Financial LLC’s holdings in Tesla were worth $290,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently added to or reduced their stakes in the business. Norges Bank bought a new position in shares of Tesla in the fourth quarter worth approximately $14,420,248,000. FMR LLC lifted its holdings in shares of Tesla by 40.1% in the fourth quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer’s stock worth $13,997,660,000 after buying an additional 9,920,325 shares in the last quarter. GAMMA Investing LLC lifted its holdings 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 buying an additional 9,776,607 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Tesla by 4,963.0% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,834,707 shares of the electric vehicle producer’s stock worth $2,356,288,000 after buying an additional 5,719,466 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of Tesla by 21.6% in the fourth quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer’s stock worth $11,541,592,000 after buying an additional 5,075,418 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

TSLA has been the topic of several research analyst reports. Raymond James Financial downgraded shares of Tesla to an “outperform” rating in a report on Tuesday, April 22nd. Guggenheim reissued a “sell” rating and issued a $175.00 target price on shares of Tesla in a report on Monday, June 23rd. Royal Bank Of Canada lowered their target price on shares of Tesla from $314.00 to $307.00 and set an “outperform” rating on the stock in a report on Wednesday, April 23rd. UBS Group set a $290.00 price target on shares of Tesla in a research note on Monday, June 30th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $410.00 price target on shares of Tesla in a research note on Friday, June 6th. Ten research analysts have rated the stock with a sell rating, thirteen have given a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Tesla presently has a consensus rating of “Hold” and an average price target of $301.24.

Insider Activity at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 15,000 shares of the stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $323.81, for a total transaction of $4,857,150.00. Following the transaction, the senior vice president directly owned 67,600 shares in the company, valued at $21,889,556. This represents a 18.16% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robyn M. Denholm sold 112,395 shares of the stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $274.12, for a total transaction of $30,809,717.40. Following the transaction, the director owned 85,000 shares in the company, valued at approximately $23,300,200. The trade was a 56.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 833,509 shares of company stock worth $278,648,925 over the last quarter. Corporate insiders own 20.70% of the company’s stock.

Tesla Trading Down 0.7%

NASDAQ TSLA opened at $313.56 on Friday. The company’s 50-day moving average price is $320.93 and its 200-day moving average price is $325.92. The company has a current ratio of 2.00, a quick ratio of 1.54 and a debt-to-equity ratio of 0.07. The stock has a market cap of $1.01 trillion, a PE ratio of 172.29, a PEG ratio of 9.17 and a beta of 2.39. Tesla, Inc. has a 12 month low of $182.00 and a 12 month high of $488.54.

Tesla (NASDAQ:TSLA) last issued its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.26). Tesla had a return on equity of 9.02% and a net margin of 6.66%. The business had revenue of $19.34 billion for the quarter, compared to the consensus estimate of $22.93 billion. During the same quarter in the previous year, the company earned $0.45 earnings per share. Equities research analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current year.

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.