Donaldson Capital Management LLC Sells 7,825 Shares of Tesla, Inc. (NASDAQ:TSLA)

Donaldson Capital Management LLC lowered its stake in Tesla, Inc. (NASDAQ:TSLA) by 77.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,261 shares of the electric vehicle producer’s stock after selling 7,825 shares during the quarter. Donaldson Capital Management LLC’s holdings in Tesla were worth $586,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of TSLA. Norges Bank acquired a new position in Tesla during the fourth quarter worth approximately $14,420,248,000. FMR LLC boosted its stake in shares of Tesla by 40.1% during the 4th quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer’s stock worth $13,997,660,000 after acquiring an additional 9,920,325 shares during the period. GAMMA Investing LLC boosted its stake in shares of Tesla by 27,378.6% during the 1st quarter. GAMMA Investing LLC now owns 9,812,316 shares of the electric vehicle producer’s stock worth $2,542,960,000 after acquiring an additional 9,776,607 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in shares of Tesla by 4,963.0% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 5,834,707 shares of the electric vehicle producer’s stock worth $2,356,288,000 after acquiring an additional 5,719,466 shares during the last quarter. Finally, Northern Trust Corp raised its stake in Tesla by 21.6% in the 4th quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer’s stock valued at $11,541,592,000 after acquiring an additional 5,075,418 shares during the period. Institutional investors own 66.20% of the company’s stock.

Insider Buying and Selling

In related news, Director Joseph Gebbia bought 4,000 shares of the stock in a transaction that occurred on Thursday, April 24th. The stock was acquired at an average cost of $256.31 per share, with a total value of $1,025,240.00. Following the transaction, the director now directly owns 4,111 shares in the company, valued at approximately $1,053,690.41. This trade represents a 3,603.60% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Vaibhav Taneja sold 2,564 shares of Tesla stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $285.71, for a total value of $732,560.44. Following the transaction, the chief financial officer now directly owns 5,924 shares in the company, valued at $1,692,546.04. The trade was a 30.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 818,509 shares of company stock worth $273,791,775 in the last ninety days. Company insiders own 20.70% of the company’s stock.

Tesla Trading Up 0.1%

NASDAQ TSLA opened at $326.43 on Thursday. The company has a market cap of $1.05 trillion, a price-to-earnings ratio of 160.02, a price-to-earnings-growth ratio of 5.86 and a beta of 2.47. Tesla, Inc. has a twelve month low of $169.80 and a twelve month high of $488.54. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. The business’s fifty day moving average is $295.60 and its 200 day moving average is $333.11.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results 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). Tesla had a net margin of 7.26% and a return on equity of 10.31%. The firm had revenue of $19.34 billion for the quarter, compared to analyst estimates of $22.93 billion. During the same period in the previous year, the business posted $0.45 earnings per share. As a group, sell-side analysts expect that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on TSLA. Mizuho increased their price objective on shares of Tesla from $325.00 to $390.00 and gave the company an “outperform” rating in a research report on Friday, May 16th. Piper Sandler reissued an “overweight” rating and issued a $400.00 price target on shares of Tesla in a report on Tuesday. Stifel Nicolaus set a $450.00 price objective on Tesla and gave the stock a “buy” rating in a report on Thursday, April 24th. Barclays decreased their target price on Tesla from $325.00 to $275.00 and set an “equal weight” rating on the stock in a research report on Monday, April 21st. Finally, Canaccord Genuity Group reduced their target price on shares of Tesla from $404.00 to $303.00 and set a “buy” rating for the company in a research report on Wednesday, April 23rd. Ten equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Tesla currently has an average rating of “Hold” and an average 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.