Tesla, Inc. (NASDAQ:TSLA) Shares Sold by ProShare Advisors LLC

ProShare Advisors LLC reduced its stake in Tesla, Inc. (NASDAQ:TSLA) by 1.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,090,491 shares of the electric vehicle producer’s stock after selling 29,941 shares during the period. Tesla accounts for about 1.9% of ProShare Advisors LLC’s investment portfolio, making the stock its 6th biggest holding. ProShare Advisors LLC owned about 0.06% of Tesla worth $844,224,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Susquehanna Fundamental Investments LLC bought a new stake in shares of Tesla during the fourth quarter valued at approximately $56,600,000. Stephens Consulting LLC raised its holdings in shares of Tesla by 126.7% during 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. Strategic Family Wealth Counselors L.L.C. raised its holdings 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 valued at $1,150,000 after buying an additional 1,629 shares during the last quarter. Harvard Management Co. Inc. bought a new stake in Tesla during the fourth quarter worth approximately $8,158,000. Finally, Ameritas Advisory Services LLC raised its holdings in Tesla by 104.9% during the fourth quarter. Ameritas Advisory Services LLC now owns 57,553 shares of the electric vehicle producer’s stock worth $23,242,000 after purchasing an additional 29,458 shares in the last quarter. Institutional investors own 66.20% of the company’s stock.

Tesla Trading Up 4.1%

Tesla stock opened at $347.68 on Thursday. The company’s fifty day simple moving average is $262.55 and its 200-day simple moving average is $328.41. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 12 month low of $167.41 and a 12 month high of $488.54. The stock has a market cap of $1.12 trillion, a P/E ratio of 170.43, a P/E/G ratio of 5.86 and a beta of 2.43.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.26). The business had revenue of $19.34 billion during the quarter, compared to analyst estimates 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 previous year, the firm posted $0.45 EPS. As a group, sell-side analysts forecast that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Buying and Selling

In other Tesla news, Director Robyn M. Denholm sold 112,395 shares of the business’s stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $274.12, for a total transaction of $30,809,717.40. Following the completion of the transaction, the director now owns 85,000 shares of the company’s stock, valued at $23,300,200. The trade was a 56.94% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Vaibhav Taneja sold 2,672 shares of the business’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $268.73, for a total transaction of $718,046.56. Following the transaction, the chief financial officer now directly owns 26,950 shares of the company’s stock, valued at approximately $7,242,273.50. This represents a 9.02% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 412,623 shares of company stock worth $115,600,501. Corporate insiders own 20.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Stifel Nicolaus set a $450.00 target price on Tesla and gave the stock a “buy” rating in a report on Thursday, April 24th. Roth Mkm dropped their target price on Tesla from $450.00 to $395.00 and set a “buy” rating on the stock in a report on Wednesday, April 23rd. Deutsche Bank Aktiengesellschaft dropped their target price on Tesla from $420.00 to $345.00 and set a “buy” rating on the stock in a report on Friday, March 28th. Canaccord Genuity Group decreased their price target on shares of Tesla from $404.00 to $303.00 and set a “buy” rating on the stock in a research report on Wednesday, April 23rd. Finally, Morgan Stanley restated a “buy” rating and issued a $430.00 price target on shares of Tesla in a research report on Tuesday, April 22nd. Ten analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $287.46.

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.