Jacobs & Co. CA Sells 1,704 Shares of Tesla, Inc. (NASDAQ:TSLA)

Jacobs & Co. CA lessened its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 19.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,965 shares of the electric vehicle producer’s stock after selling 1,704 shares during the period. Jacobs & Co. CA’s holdings in Tesla were worth $1,805,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the business. Susquehanna Fundamental Investments LLC bought a new position in shares of Tesla during the fourth quarter valued at approximately $56,600,000. Stephens Consulting LLC boosted its holdings in shares of Tesla by 126.7% in the 4th quarter. Stephens Consulting LLC now owns 1,594 shares of the electric vehicle producer’s stock valued at $644,000 after acquiring an additional 891 shares during the last quarter. Strategic Family Wealth Counselors L.L.C. raised its position in 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 acquiring an additional 1,629 shares in the last quarter. Harvard Management Co. Inc. acquired a new position in shares of Tesla in the fourth quarter worth about $8,158,000. Finally, Vontobel Holding Ltd. grew its holdings in Tesla by 23.0% in the fourth quarter. Vontobel Holding Ltd. now owns 322,300 shares of the electric vehicle producer’s stock valued at $130,158,000 after purchasing an additional 60,342 shares during the period. Institutional investors own 66.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on TSLA. Robert W. Baird decreased their price target on shares of Tesla from $370.00 to $320.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 23rd. Wedbush reaffirmed an “outperform” rating and issued a $500.00 target price (up previously from $350.00) on shares of Tesla in a research report on Friday, May 23rd. Glj Research reaffirmed a “sell” rating and issued a $19.05 price objective (down from $24.86) on shares of Tesla in a research note on Monday, April 21st. Cowen raised shares of Tesla from a “hold” rating to a “buy” rating in a research note on Thursday, March 6th. Finally, Argus set a $410.00 price objective on Tesla in a research report on Thursday, April 24th. Ten equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $293.97.

Insider Activity

In related news, Director Robyn M. Denholm sold 112,390 shares of Tesla stock in a transaction that occurred 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 transaction, the director now owns 85,000 shares in the company, valued at approximately $25,466,850. The trade was a 56.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Vaibhav Taneja sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $350.11, for a total value of $1,050,330.00. Following the sale, the chief financial officer now owns 26,950 shares of the company’s stock, valued at approximately $9,435,464.50. The trade was a 10.02% decrease in their position. The disclosure for this sale can be found here. Insiders sold 415,623 shares of company stock worth $116,650,831 over the last three months. Insiders own 20.70% of the company’s stock.

Tesla Trading Down 1.7%

Shares of NASDAQ TSLA opened at $356.90 on Thursday. Tesla, Inc. has a fifty-two week low of $167.41 and a fifty-two week high of $488.54. The business’s 50 day moving average price is $284.09 and its 200-day moving average price is $333.75. The company has a market cap of $1.15 trillion, a price-to-earnings ratio of 174.95, a PEG ratio of 5.86 and a beta of 2.43. 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 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). The company had revenue of $19.34 billion for 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 quarter in the previous year, the company posted $0.45 EPS. On average, sell-side analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current year.

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.