CoreCap Advisors LLC Sells 72 Shares of Tesla, Inc. (NASDAQ:TSLA)

CoreCap Advisors LLC lessened its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 0.3% during the 4th quarter, Holdings Channel reports. The fund owned 26,770 shares of the electric vehicle producer’s stock after selling 72 shares during the period. CoreCap Advisors LLC’s holdings in Tesla were worth $10,811,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Tesla in the 4th quarter worth $56,600,000. Stephens Consulting LLC raised its stake in Tesla by 126.7% in the fourth quarter. Stephens Consulting LLC now owns 1,594 shares of the electric vehicle producer’s stock valued at $644,000 after buying an additional 891 shares during the last quarter. Worth Asset Management LLC boosted its holdings in Tesla by 383.1% in the fourth quarter. Worth Asset Management LLC now owns 8,314 shares of the electric vehicle producer’s stock worth $3,358,000 after acquiring an additional 6,593 shares in the last quarter. Strategic Family Wealth Counselors L.L.C. grew its stake in shares of Tesla by 133.7% during the fourth 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 acquiring an additional 1,629 shares during the last quarter. Finally, Harvard Management Co. Inc. purchased a new position in shares of Tesla in the 4th quarter valued at approximately $8,158,000. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Morgan Stanley restated a “buy” rating and set a $430.00 price target on shares of Tesla in a research note on Tuesday, April 22nd. HSBC cut their target price on Tesla from $165.00 to $130.00 and set a “reduce” rating on the stock in a research report on Thursday, March 27th. Deutsche Bank Aktiengesellschaft lowered their price target on Tesla from $420.00 to $345.00 and set a “buy” rating for the company in a research report on Friday, March 28th. Truist Financial set a $280.00 price objective on Tesla in a research note on Tuesday, April 22nd. Finally, JPMorgan Chase & Co. dropped their target price on Tesla from $120.00 to $115.00 and set an “underweight” rating on the stock in a research report on Wednesday, April 23rd. Ten equities research 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 assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $287.46.

Tesla Trading Down 1.8 %

Shares of Tesla stock opened at $275.35 on Wednesday. Tesla, Inc. has a twelve month low of $167.41 and a twelve month high of $488.54. The firm’s 50-day moving average price is $258.47 and its 200 day moving average price is $325.98. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $886.89 billion, a PE ratio of 134.98, a P/E/G ratio of 5.86 and a beta of 2.43.

Tesla (NASDAQ:TSLA) last issued its quarterly 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 firm had revenue of $19.34 billion during the quarter, compared to analyst estimates of $22.93 billion. During the same period in the prior year, the firm earned $0.45 earnings per share. On average, sell-side analysts predict that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Transactions at Tesla

In related news, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $284.40, for a total transaction of $1,137,600.00. Following the transaction, the chief financial officer now owns 26,950 shares in the company, valued at approximately $7,664,580. This trade represents a 12.92 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Robyn M. Denholm sold 112,390 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were 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 owns 85,000 shares of the company’s stock, valued at approximately $25,466,850. The trade was a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 371,228 shares of company stock valued at $111,181,034 over the last 90 days. 20.70% of the stock is currently owned by corporate 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.