Morse Asset Management Inc Has $441,000 Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Morse Asset Management Inc reduced its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 79.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,507 shares of the electric vehicle producer’s stock after selling 9,862 shares during the quarter. Morse Asset Management Inc’s holdings in Tesla were worth $441,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Manhattan West Asset Management LLC boosted its stake in shares of Tesla by 5.4% during the 1st quarter. Manhattan West Asset Management LLC now owns 3,189 shares of the electric vehicle producer’s stock worth $561,000 after acquiring an additional 164 shares during the period. BOKF NA boosted its stake in shares of Tesla by 23.8% during the 1st quarter. BOKF NA now owns 89,237 shares of the electric vehicle producer’s stock worth $15,636,000 after acquiring an additional 17,148 shares during the period. Kestra Advisory Services LLC boosted its stake in shares of Tesla by 8.7% during the 1st quarter. Kestra Advisory Services LLC now owns 239,983 shares of the electric vehicle producer’s stock worth $42,187,000 after acquiring an additional 19,200 shares during the period. Alpine Global Management LLC bought a new position in shares of Tesla during the 1st quarter worth approximately $3,516,000. Finally, LRI Investments LLC bought a new position in shares of Tesla during the 1st quarter worth approximately $312,000. 66.20% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

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

Tesla Stock Performance

NASDAQ:TSLA traded down $0.45 during trading hours on Friday, reaching $219.80. The stock had a trading volume of 94,604,145 shares, compared to its average volume of 132,509,544. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.17 and a current ratio of 1.91. The stock has a 50 day simple moving average of $205.68 and a 200 day simple moving average of $190.62. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $278.98. The stock has a market cap of $702.18 billion, a P/E ratio of 56.07, a price-to-earnings-growth ratio of 5.49 and a beta of 2.31.

Tesla (NASDAQ:TSLA) last released its earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). Tesla had a return on equity of 10.41% and a net margin of 13.00%. The firm had revenue of $25.50 billion during the quarter, compared to analysts’ expectations of $24.38 billion. During the same period in the prior year, the business earned $0.78 earnings per share. The business’s quarterly revenue was up 2.3% compared to the same quarter last year. On average, research analysts forecast that Tesla, Inc. will post 1.79 EPS for the current fiscal year.

Analyst Ratings Changes

TSLA has been the topic of a number of analyst reports. Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a research report on Wednesday. Glj Research upped their price target on Tesla from $22.86 to $24.86 and gave the company a “sell” rating in a research report on Tuesday, July 23rd. HSBC upped their price target on Tesla from $120.00 to $130.00 in a research report on Wednesday, July 10th. Robert W. Baird reiterated an “outperform” rating and issued a $280.00 price target on shares of Tesla in a research report on Tuesday, July 16th. Finally, Mizuho upped their price target on Tesla from $180.00 to $230.00 and gave the company a “neutral” rating in a research report on Friday, July 12th. Nine equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $204.30.

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.