Albion Financial Group UT Reduces Holdings in Tesla, Inc. (NASDAQ:TSLA)

Albion Financial Group UT lowered its stake in Tesla, Inc. (NASDAQ:TSLA) by 14.6% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,059 shares of the electric vehicle producer’s stock after selling 1,040 shares during the quarter. Albion Financial Group UT’s holdings in Tesla were worth $1,570,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Wealth Group Ltd. acquired a new stake in shares of Tesla during the 4th quarter worth about $275,000. Tallon Kerry Patrick purchased a new position in shares of Tesla during the fourth quarter valued at approximately $374,000. Eagle Capital Management LLC acquired a new stake in Tesla during the fourth quarter worth approximately $331,000. Brighton Jones LLC grew its stake in Tesla by 11.8% in the 4th quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer’s stock worth $35,509,000 after acquiring an additional 9,293 shares during the period. Finally, Revolve Wealth Partners LLC raised its holdings in Tesla by 21.2% in the 4th quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer’s stock valued at $2,147,000 after acquiring an additional 931 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Stock Performance

Tesla stock opened at $317.66 on Tuesday. Tesla, Inc. has a 12-month low of $182.00 and a 12-month high of $488.54. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.00 and a quick ratio of 1.54. The company has a market capitalization of $1.02 trillion, a price-to-earnings ratio of 174.54, a price-to-earnings-growth ratio of 12.20 and a beta of 2.47. The firm’s fifty day moving average price is $316.73 and its 200 day moving average price is $328.38.

Tesla (NASDAQ:TSLA) last announced its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.26). The business had revenue of $19.34 billion for the quarter, compared to analysts’ expectations of $22.93 billion. Tesla had a return on equity of 9.02% and a net margin of 6.66%. During the same period in the previous year, the firm posted $0.45 earnings per share. On average, research analysts forecast that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Activity at Tesla

In other news, CFO Vaibhav Taneja sold 2,564 shares of the stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $285.71, for a total transaction of $732,560.44. Following the completion of the transaction, the chief financial officer directly owned 5,924 shares in the company, valued at approximately $1,692,546.04. This represents a 30.21% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Robyn M. Denholm sold 112,395 shares of Tesla stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $274.12, for a total transaction of $30,809,717.40. Following the completion of the sale, the director owned 85,000 shares of the company’s stock, valued at approximately $23,300,200. This trade represents a 56.94% decrease in their position. The disclosure for this sale can be found here. Insiders sold 833,509 shares of company stock worth $278,648,925 over the last ninety days. Company insiders own 20.70% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Bank of America lowered their price objective on Tesla from $490.00 to $380.00 and set a “neutral” rating for the company in a research report on Tuesday, March 4th. Baird R W cut Tesla from a “strong-buy” rating to a “hold” rating in a report on Monday, June 9th. Robert W. Baird reiterated a “neutral” rating and set a $320.00 price objective on shares of Tesla in a report on Monday, June 9th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Tesla from $420.00 to $345.00 and set a “buy” rating for the company in a report on Friday, March 28th. Finally, JPMorgan Chase & Co. cut their price target on shares of Tesla from $120.00 to $115.00 and set an “underweight” rating on the stock in a research note on Wednesday, April 23rd. Ten analysts have rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $298.37.

Tesla Company 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.