MV Capital Management Inc. Sells 1,330 Shares of Tesla, Inc. (NASDAQ:TSLA)

MV Capital Management Inc. trimmed its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 39.0% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,080 shares of the electric vehicle producer’s stock after selling 1,330 shares during the quarter. MV Capital Management Inc.’s holdings in Tesla were worth $539,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Trueblood Wealth Management LLC grew its position in Tesla by 93.4% in the 1st quarter. Trueblood Wealth Management LLC now owns 1,955 shares of the electric vehicle producer’s stock worth $507,000 after purchasing an additional 944 shares in the last quarter. Sanibel Captiva Trust Company Inc. grew its stake in shares of Tesla by 22.0% during the 1st quarter. Sanibel Captiva Trust Company Inc. now owns 31,774 shares of the electric vehicle producer’s stock worth $8,235,000 after acquiring an additional 5,733 shares during the period. Curated Wealth Partners LLC boosted its stake in Tesla by 72.6% in the 1st quarter. Curated Wealth Partners LLC now owns 1,710 shares of the electric vehicle producer’s stock worth $443,000 after purchasing an additional 719 shares during the period. Avanza Fonder AB boosted its stake in Tesla by 3.8% in the 1st quarter. Avanza Fonder AB now owns 254,266 shares of the electric vehicle producer’s stock worth $71,896,000 after purchasing an additional 9,225 shares during the period. Finally, Parsons Capital Management Inc. RI raised its holdings in shares of Tesla by 0.3% in the 1st quarter. Parsons Capital Management Inc. RI now owns 15,656 shares of the electric vehicle producer’s stock valued at $4,057,000 after acquiring an additional 53 shares in the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Kimbal Musk sold 91,588 shares of Tesla stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $357.39, for a total transaction of $32,732,635.32. Following the completion of the sale, the director now directly owns 1,463,220 shares of the company’s stock, valued at $522,940,195.80. The trade was a 5.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction dated Monday, April 7th. The stock was 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 owns 26,950 shares in the company, valued at approximately $6,737,500. This represents a 12.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 818,509 shares of company stock worth $273,791,775 in the last 90 days. 20.70% of the stock is owned by company insiders.

Tesla Stock Performance

Shares of TSLA stock opened at $326.09 on Wednesday. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. Tesla, Inc. has a fifty-two week low of $167.41 and a fifty-two week high of $488.54. The stock’s 50-day moving average is $293.86 and its two-hundred day moving average is $333.15. The firm has a market cap of $1.05 trillion, a P/E ratio of 159.85, a PEG ratio of 5.86 and a beta of 2.47.

Tesla (NASDAQ:TSLA) last announced 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). Tesla had a net margin of 7.26% and a return on equity of 10.31%. The business had revenue of $19.34 billion for the quarter, compared to the consensus estimate of $22.93 billion. During the same quarter in the previous year, the company earned $0.45 EPS. Analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have issued reports on TSLA shares. Benchmark reiterated a “buy” rating and set a $350.00 target price on shares of Tesla in a research report on Wednesday, April 23rd. Argus reaffirmed a “hold” rating on shares of Tesla in a research note on Monday. Cantor Fitzgerald decreased their target price on shares of Tesla from $425.00 to $355.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 23rd. Morgan Stanley reissued an “overweight” rating and set a $410.00 price objective on shares of Tesla in a research report on Friday. Finally, Guggenheim reissued a “sell” rating and set a $170.00 price objective on shares of Tesla in a research report on Thursday, April 24th. Ten equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $293.67.

Tesla 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.