Seros Financial LLC Cuts Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Seros Financial LLC lessened its stake in Tesla, Inc. (NASDAQ:TSLA) by 22.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,948 shares of the electric vehicle producer’s stock after selling 555 shares during the period. Seros Financial LLC’s holdings in Tesla were worth $505,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Crowley Wealth Management Inc. grew its stake in shares of Tesla by 1.3% during the first quarter. Crowley Wealth Management Inc. now owns 16,268 shares of the electric vehicle producer’s stock worth $4,216,000 after acquiring an additional 214 shares during the last quarter. Quintet Private Bank Europe S.A. grew its stake in shares of Tesla by 44.2% during the first quarter. Quintet Private Bank Europe S.A. now owns 59,036 shares of the electric vehicle producer’s stock worth $15,300,000 after acquiring an additional 18,093 shares during the last quarter. RFG Holdings Inc. grew its stake in shares of Tesla by 15.7% during the first quarter. RFG Holdings Inc. now owns 4,178 shares of the electric vehicle producer’s stock worth $1,083,000 after acquiring an additional 566 shares during the last quarter. Thomasville National Bank grew its stake in shares of Tesla by 34.1% during the first quarter. Thomasville National Bank now owns 1,581 shares of the electric vehicle producer’s stock worth $410,000 after acquiring an additional 402 shares during the last quarter. Finally, Polianta Ltd purchased a new stake in shares of Tesla during the first quarter worth about $1,114,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Buying and Selling at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $350.00, for a total value of $350,000.00. Following the completion of the sale, the chief financial officer now owns 1,950 shares in the company, valued at approximately $682,500. The trade was a 33.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robyn M. Denholm sold 112,390 shares of the business’s stock in a transaction that occurred on Tuesday, April 29th. The shares were sold at an average price of $285.58, for a total value of $32,096,336.20. Following the completion of the sale, the director now owns 85,000 shares of the company’s stock, valued at approximately $24,274,300. This represents a 56.94% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 818,509 shares of company stock worth $273,791,775. 20.70% of the stock is owned by insiders.

Tesla Stock Performance

Shares of TSLA opened at $319.11 on Friday. The stock has a 50 day moving average price of $297.32 and a 200 day moving average price of $332.97. 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 company has a market capitalization of $1.03 trillion, a price-to-earnings ratio of 156.43, a price-to-earnings-growth ratio of 5.86 and a beta of 2.47. Tesla, Inc. has a 52-week low of $176.92 and a 52-week high of $488.54.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share 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 during the quarter, compared to analysts’ expectations of $22.93 billion. During the same quarter in the prior year, the firm posted $0.45 EPS. Research analysts predict that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently weighed in on TSLA. Cowen upgraded Tesla from a “hold” rating to a “buy” rating in a research note on Thursday, March 6th. Benchmark reiterated a “buy” rating and issued a $350.00 target price on shares of Tesla in a research report on Wednesday, April 23rd. Raymond James lowered Tesla to an “outperform” rating in a research report on Tuesday, April 22nd. HSBC dropped their target price on Tesla from $165.00 to $130.00 and set a “reduce” rating on the stock in a research report on Thursday, March 27th. Finally, Barclays dropped 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. Ten 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’s stock. Based on data from MarketBeat.com, the company has a consensus 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.