Global Trust Asset Management LLC Sells 2,490 Shares of Tesla, Inc. (NASDAQ:TSLA)

Global Trust Asset Management LLC decreased its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 59.3% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,710 shares of the electric vehicle producer’s stock after selling 2,490 shares during the period. Global Trust Asset Management LLC’s holdings in Tesla were worth $443,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of TSLA. Norges Bank purchased a new position in shares of Tesla in the fourth quarter worth $14,420,248,000. FMR LLC raised its holdings in shares of Tesla by 40.1% during the fourth quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer’s stock worth $13,997,660,000 after purchasing an additional 9,920,325 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Tesla by 27,378.6% during the first quarter. GAMMA Investing LLC now owns 9,812,316 shares of the electric vehicle producer’s stock worth $2,542,960,000 after purchasing an additional 9,776,607 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Tesla by 4,963.0% during the fourth 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 purchasing an additional 5,719,466 shares during the last quarter. Finally, Northern Trust Corp raised its holdings in shares of Tesla by 21.6% during the fourth quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer’s stock worth $11,541,592,000 after purchasing an additional 5,075,418 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Analyst Upgrades and Downgrades

TSLA has been the subject of several recent research reports. Royal Bank of Canada reduced their target price on shares of Tesla from $314.00 to $307.00 and set an “outperform” rating for the company in a report on Wednesday, April 23rd. Wells Fargo & Company dropped their price target on shares of Tesla from $135.00 to $130.00 and set an “underweight” rating on the stock in a research report on Friday, March 14th. Glj Research restated a “sell” rating and set a $19.05 price target (down previously from $24.86) on shares of Tesla in a research report on Monday, April 21st. Canaccord Genuity Group dropped their price target on shares of Tesla from $404.00 to $303.00 and set a “buy” rating on the stock in a research report on Wednesday, April 23rd. Finally, Wedbush set a $500.00 price target on shares of Tesla in a research report on Thursday, June 5th. Ten research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $293.67.

Insider Buying and Selling

In other news, CFO Vaibhav Taneja sold 4,000 shares of the business’s stock in a transaction that occurred 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 owns 26,950 shares in the company, valued at approximately $6,737,500. The trade was a 12.92% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Xiaotong Zhu sold 15,000 shares of the business’s stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $323.81, for a total transaction of $4,857,150.00. Following the completion of the transaction, the senior vice president now owns 67,600 shares in the company, valued at $21,889,556. This trade represents a 18.16% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 833,509 shares of company stock worth $278,648,925 in the last ninety days. Company insiders own 20.70% of the company’s stock.

Tesla Price Performance

NASDAQ:TSLA opened at $329.13 on Tuesday. Tesla, Inc. has a 52 week low of $177.00 and a 52 week high of $488.54. The firm has a market cap of $1.06 trillion, a price-to-earnings ratio of 161.34, a P/E/G ratio of 5.86 and a beta of 2.47. The firm’s 50-day simple moving average is $301.53 and its 200 day simple moving average is $332.77. 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 released its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS 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 firm had revenue of $19.34 billion during the quarter, compared to the consensus estimate of $22.93 billion. During the same period in the prior year, the business earned $0.45 earnings per share. As a group, sell-side analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current year.

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.