Tesla, Inc. (NASDAQ:TSLA) Stake Decreased by Fortitude Family Office LLC

Fortitude Family Office LLC cut its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 49.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 438 shares of the electric vehicle producer’s stock after selling 432 shares during the period. Fortitude Family Office LLC’s holdings in Tesla were worth $114,000 at the end of the most recent reporting period.

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

Tesla Price Performance

NASDAQ:TSLA opened at $326.43 on Thursday. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. Tesla, Inc. has a one year low of $169.80 and a one year high of $488.54. The company has a fifty day moving average price of $295.60 and a 200 day moving average price of $333.11. The stock has a market cap of $1.05 trillion, a P/E ratio of 160.02, a PEG ratio of 5.86 and a beta of 2.47.

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

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on TSLA. Stifel Nicolaus set a $450.00 price target on shares of Tesla and gave the stock a “buy” rating in a report on Thursday, April 24th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Tesla from $420.00 to $345.00 and set a “buy” rating for the company in a research note on Friday, March 28th. UBS Group dropped their price target on shares of Tesla from $225.00 to $190.00 and set a “sell” rating on the stock in a research note on Thursday, April 10th. Argus reaffirmed a “hold” rating on shares of Tesla in a research note on Monday. Finally, Cowen upgraded Tesla from a “hold” rating to a “buy” rating in a report on Thursday, March 6th. Ten equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $293.67.

Insider Buying and Selling at Tesla

In other news, CFO Vaibhav Taneja sold 2,564 shares of the business’s stock in a transaction that occurred on Monday, June 9th. The stock was 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 approximately $1,692,546.04. The trade was a 30.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Joseph Gebbia bought 4,000 shares of Tesla stock in a transaction that occurred on Thursday, April 24th. The stock was purchased at an average cost of $256.31 per share, with a total value of $1,025,240.00. Following the completion of the transaction, the director now owns 4,111 shares of the company’s stock, valued at $1,053,690.41. This trade represents a 3,603.60% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 818,509 shares of company stock valued at $273,791,775 in the last quarter. Corporate insiders own 20.70% of the company’s stock.

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.