Principal Street Partners LLC Sells 3,807 Shares of Tesla, Inc. (NASDAQ:TSLA)

Principal Street Partners LLC lessened its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 42.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,221 shares of the electric vehicle producer’s stock after selling 3,807 shares during the quarter. Principal Street Partners LLC’s holdings in Tesla were worth $2,108,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the stock. True Wealth Design LLC grew its position in shares of Tesla by 79.5% in the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer’s stock valued at $28,000 after purchasing an additional 31 shares during the last quarter. Horrell Capital Management Inc. grew its holdings in Tesla by 75.6% in the 4th quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock valued at $32,000 after buying an additional 34 shares during the last quarter. GS Investments Inc. increased its position in Tesla by 193.3% in the 4th quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock worth $36,000 after buying an additional 58 shares during the period. Navigoe LLC acquired a new position in shares of Tesla during the fourth quarter worth approximately $37,000. Finally, CoreFirst Bank & Trust bought a new stake in shares of Tesla in the fourth quarter valued at approximately $38,000. 66.20% of the stock is owned by institutional investors.

Tesla Trading Down 2.3%

TSLA opened at $342.09 on Tuesday. The firm’s fifty day moving average is $269.23 and its two-hundred day moving average is $331.30. The firm has a market cap of $1.10 trillion, a PE ratio of 167.69, a price-to-earnings-growth ratio of 5.86 and a beta of 2.43. Tesla, Inc. has a twelve month low of $167.41 and a twelve month high of $488.54. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02.

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

Insider Buying and Selling

In related news, Director Robyn M. Denholm sold 112,395 shares of the stock in a transaction dated Tuesday, May 6th. The stock was 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 directly owns 85,000 shares in the company, valued at approximately $23,300,200. This trade represents a 56.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Vaibhav Taneja sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $300.00, for a total value of $1,200,000.00. Following the completion of the sale, the chief financial officer now owns 26,950 shares in the company, valued at $8,085,000. The trade was a 12.92% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 412,623 shares of company stock valued at $115,600,501. 20.70% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have weighed in on TSLA shares. TD Cowen raised shares of Tesla from a “hold” rating to a “buy” rating and increased their price target for the company from $180.00 to $388.00 in a report on Friday, March 7th. Glj Research restated a “sell” rating and set a $19.05 price target (down from $24.86) on shares of Tesla in a research note on Monday, April 21st. JPMorgan Chase & Co. cut their price target on Tesla from $120.00 to $115.00 and set an “underweight” rating for the company in a report on Wednesday, April 23rd. Argus set a $410.00 price objective on Tesla in a report on Thursday, April 24th. Finally, Mizuho upped their target price on Tesla from $325.00 to $390.00 and gave the company an “outperform” rating in a research note on Friday. 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. Based on data from MarketBeat.com, Tesla has a consensus rating of “Hold” and a consensus target price of $289.43.

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.