Tesla, Inc. (NASDAQ:TSLA) Shares Sold by McGowan Group Asset Management Inc.

McGowan Group Asset Management Inc. lowered its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 22.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,159 shares of the electric vehicle producer’s stock after selling 333 shares during the quarter. McGowan Group Asset Management Inc.’s holdings in Tesla were worth $468,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Horrell Capital Management Inc. increased its holdings in Tesla by 75.6% in the 4th quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock worth $32,000 after buying an additional 34 shares during the period. GS Investments Inc. increased its holdings in Tesla by 193.3% in the 4th quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock worth $36,000 after buying an additional 58 shares during the period. CoreFirst Bank & Trust acquired a new position in Tesla in the 4th quarter worth approximately $38,000. Delos Wealth Advisors LLC increased its holdings in Tesla by 300.0% in the 4th quarter. Delos Wealth Advisors LLC now owns 100 shares of the electric vehicle producer’s stock worth $40,000 after buying an additional 75 shares during the period. Finally, Cyrus J. Lawrence LLC acquired a new position in Tesla in the 4th quarter worth approximately $44,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Stock Up 6.7%

NASDAQ TSLA opened at $318.38 on Tuesday. Tesla, Inc. has a one year low of $167.41 and a one year high of $488.54. The company has a market cap of $1.03 trillion, a P/E ratio of 156.07, a P/E/G ratio of 5.86 and a beta of 2.43. The business has a fifty day moving average price of $259.44 and a 200 day moving average price of $328.24. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02.

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 analysts’ consensus estimates of $0.53 by ($0.26). Tesla had a return on equity of 10.31% and a net margin of 7.26%. The company had revenue of $19.34 billion during the quarter, compared to analyst estimates of $22.93 billion. During the same period last year, the business earned $0.45 earnings per share. Research analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on TSLA shares. Cantor Fitzgerald cut their price target on shares of Tesla from $425.00 to $355.00 and set an “overweight” rating on the stock in a report on Wednesday, April 23rd. Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a report on Wednesday, April 23rd. Robert W. Baird cut their price target on shares of Tesla from $370.00 to $320.00 and set an “outperform” rating on the stock in a report on Wednesday, April 23rd. Mizuho lowered their price objective on Tesla from $375.00 to $325.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 23rd. Finally, Bank of America lowered their price objective on Tesla from $490.00 to $380.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 4th. Ten investment analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Tesla has a consensus rating of “Hold” and a consensus price target of $287.46.

Insiders Place Their Bets

In other Tesla news, Director Robyn M. Denholm sold 112,390 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $299.61, for a total value of $33,673,167.90. Following the completion of the sale, the director now directly owns 85,000 shares of the company’s stock, valued at $25,466,850. This trade represents a 56.94% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Vaibhav Taneja sold 2,672 shares of the firm’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $268.73, for a total value of $718,046.56. Following the completion of the sale, the chief financial officer now directly owns 26,950 shares of the company’s stock, valued at $7,242,273.50. This trade represents a 9.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 408,623 shares of company stock valued at $114,400,501 in the last three months. 20.70% of the stock is currently owned by insiders.

Tesla 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.