Everhart Financial Group Inc. Decreases Holdings in Tesla, Inc. (NASDAQ:TSLA)

Everhart Financial Group Inc. lessened its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 0.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,647 shares of the electric vehicle producer’s stock after selling 149 shares during the quarter. Tesla accounts for 0.6% of Everhart Financial Group Inc.’s investment portfolio, making the stock its 26th biggest position. Everhart Financial Group Inc.’s holdings in Tesla were worth $4,055,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Wealth Group Ltd. purchased a new position in shares of Tesla in the fourth quarter valued at $275,000. Comprehensive Financial Planning Inc. PA purchased a new position in Tesla in the 4th quarter valued at about $1,361,000. Tallon Kerry Patrick acquired a new stake in shares of Tesla during the fourth quarter valued at about $374,000. Eagle Capital Management LLC purchased a new stake in shares of Tesla during the fourth quarter worth about $331,000. Finally, Brighton Jones LLC boosted its holdings 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 purchasing an additional 9,293 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Price Performance

NASDAQ TSLA opened at $319.11 on Friday. The stock has a market capitalization of $1.03 trillion, a P/E ratio of 156.43, a P/E/G ratio of 5.86 and a beta of 2.47. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. The business’s fifty day moving average is $297.32 and its two-hundred day moving average is $332.97. Tesla, Inc. has a 1 year low of $176.92 and a 1 year high of $488.54.

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

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on TSLA shares. Raymond James lowered shares of Tesla to an “outperform” rating in a research note on Tuesday, April 22nd. The Goldman Sachs Group dropped their target price on shares of Tesla from $295.00 to $285.00 and set a “neutral” rating for the company in a research report on Friday, June 6th. Baird R W cut shares of Tesla from a “strong-buy” rating to a “hold” rating in a research report on Monday. JPMorgan Chase & Co. decreased their price target on Tesla from $120.00 to $115.00 and set an “underweight” rating for the company in a research note on Wednesday, April 23rd. Finally, Needham & Company LLC restated 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 issued a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $293.67.

Insiders Place Their Bets

In other news, Director Robyn M. Denholm sold 112,390 shares of the stock in a transaction on Tuesday, April 29th. The stock was sold at an average price of $285.58, for a total value of $32,096,336.20. Following the completion of the sale, the director now owns 85,000 shares in the company, valued at $24,274,300. This represents a 56.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Vaibhav Taneja sold 4,000 shares of the company’s stock in a transaction on Monday, April 7th. The shares were sold at an average price of $250.00, for a total value of $1,000,000.00. Following the transaction, the chief financial officer now directly owns 26,950 shares in the company, valued at $6,737,500. The trade was a 12.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 818,509 shares of company stock worth $273,791,775 over the last ninety days. 20.70% of the stock is currently owned by company insiders.

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.