Capital Advisory Group Advisory Services LLC Decreases Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Capital Advisory Group Advisory Services LLC lessened its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 17.6% in the first quarter, HoldingsChannel.com reports. The firm owned 2,287 shares of the electric vehicle producer’s stock after selling 487 shares during the quarter. Capital Advisory Group Advisory Services LLC’s holdings in Tesla were worth $593,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in TSLA. Susquehanna Fundamental Investments LLC purchased a new stake in Tesla in the fourth quarter worth about $56,600,000. Strategic Family Wealth Counselors L.L.C. lifted its stake in shares of Tesla by 133.7% in the 4th 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 purchasing an additional 1,629 shares during the period. Harvard Management Co. Inc. bought a new stake in shares of Tesla during the fourth quarter valued at approximately $8,158,000. Vontobel Holding Ltd. grew its stake in Tesla by 23.0% in the fourth quarter. Vontobel Holding Ltd. now owns 322,300 shares of the electric vehicle producer’s stock worth $130,158,000 after purchasing an additional 60,342 shares during the period. Finally, Jacobs Levy Equity Management Inc. lifted its position in Tesla by 451.9% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 285,121 shares of the electric vehicle producer’s stock valued at $115,143,000 after buying an additional 233,460 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Transactions at Tesla

In related news, 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 value of $170,636,475.60. Following the sale, the director now directly owns 855,394 shares in the company, valued at $305,632,276.20. This trade represents a 35.83% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Vaibhav Taneja sold 4,000 shares of the firm’s stock in a transaction on Monday, April 7th. The shares were sold at an average price of $250.00, for a total value of $1,000,000.00. Following the transaction, the chief financial officer now directly owns 26,950 shares in the company, valued at $6,737,500. This trade represents a 12.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 818,509 shares of company stock valued at $273,791,775. 20.70% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

TSLA has been the subject of a number of recent research reports. HSBC lowered their price target on shares of Tesla from $165.00 to $130.00 and set a “reduce” rating for the company in a research report on Thursday, March 27th. Cfra Research cut shares of Tesla from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, April 22nd. Benchmark reissued a “buy” rating and set a $350.00 price target on shares of Tesla in a report on Wednesday, April 23rd. JPMorgan Chase & Co. lowered their target price on Tesla from $120.00 to $115.00 and set an “underweight” rating for the company in a research report on Wednesday, April 23rd. Finally, Oppenheimer restated a “mixed” rating on shares of Tesla in a report on Tuesday, March 18th. Ten research 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 company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $293.67.

Tesla Trading Up 5.7%

Shares of TSLA stock opened at $326.09 on Wednesday. The firm’s 50 day moving average price is $293.86 and its two-hundred day moving average price is $333.15. 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 fifty-two week low of $167.41 and a fifty-two week high of $488.54. The stock has a market cap of $1.05 trillion, a price-to-earnings ratio of 159.85, a price-to-earnings-growth ratio of 5.86 and a beta of 2.47.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.26). The firm had revenue of $19.34 billion during the quarter, compared to analyst estimates 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 earned $0.45 EPS. On average, analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current year.

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.