Analyst IMS Investment Management Services Ltd. Sells 647 Shares of Tesla, Inc. (NASDAQ:TSLA)

Analyst IMS Investment Management Services Ltd. lowered its position in Tesla, Inc. (NASDAQ:TSLA) by 3.4% in the first quarter, HoldingsChannel.com reports. The fund owned 18,196 shares of the electric vehicle producer’s stock after selling 647 shares during the quarter. Analyst IMS Investment Management Services Ltd.’s holdings in Tesla were worth $4,716,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Susquehanna Fundamental Investments LLC acquired a new position in shares of Tesla during the fourth quarter worth approximately $56,600,000. Focus Financial Network Inc. raised its position in Tesla by 3.1% in the 1st quarter. Focus Financial Network Inc. now owns 22,467 shares of the electric vehicle producer’s stock worth $5,823,000 after purchasing an additional 670 shares during the last quarter. Strategic Family Wealth Counselors L.L.C. lifted its holdings in Tesla by 133.7% during the 4th quarter. Strategic Family Wealth Counselors L.L.C. now owns 2,847 shares of the electric vehicle producer’s stock worth $1,150,000 after buying an additional 1,629 shares in the last quarter. Harvard Management Co. Inc. bought a new position in Tesla in the 4th quarter valued at $8,158,000. Finally, Blackston Financial Advisory Group LLC increased its stake in shares of Tesla by 40.4% in the 1st quarter. Blackston Financial Advisory Group LLC now owns 3,040 shares of the electric vehicle producer’s stock valued at $788,000 after buying an additional 874 shares during the period. 66.20% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the completion of the transaction, the chief financial officer now owns 26,950 shares of the company’s stock, valued at $6,737,500. This represents a 12.92% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of the firm’s stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $357.30, for a total transaction of $170,636,475.60. Following the transaction, the director now directly owns 855,394 shares of the company’s stock, valued at $305,632,276.20. This represents a 35.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 833,509 shares of company stock valued at $278,648,925. 20.70% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on TSLA shares. Robert W. Baird reaffirmed a “neutral” rating and set a $320.00 price target on shares of Tesla in a research note on Monday, June 9th. BNP Paribas set a $137.00 price objective on Tesla and gave the stock an “underperform” rating in a report on Wednesday, April 16th. Cantor Fitzgerald cut their target price on shares of Tesla from $425.00 to $355.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 23rd. Baird R W cut shares of Tesla from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 9th. Finally, The Goldman Sachs Group cut their price objective on shares of Tesla from $295.00 to $285.00 and set a “neutral” rating on the stock in a report on Friday, June 6th. Ten investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Tesla has an average rating of “Hold” and a consensus price target of $293.67.

Tesla Trading Down 3.8%

NASDAQ:TSLA opened at $316.73 on Wednesday. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.00 and a quick ratio of 1.54. The business’s 50-day simple moving average is $302.42 and its 200-day simple moving average is $332.66. Tesla, Inc. has a fifty-two week low of $179.66 and a fifty-two week high of $488.54. The stock has a market capitalization of $1.02 trillion, a PE ratio of 174.03, a price-to-earnings-growth ratio of 12.36 and a beta of 2.47.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.26). The company had revenue of $19.34 billion during the quarter, compared to the consensus estimate of $22.93 billion. Tesla had a net margin of 6.66% and a return on equity of 9.02%. During the same period in the previous year, the firm posted $0.45 EPS. Sell-side analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

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.