Delta Investment Management LLC Sells 554 Shares of Tesla, Inc. $TSLA

Delta Investment Management LLC lessened its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 6.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,516 shares of the electric vehicle producer’s stock after selling 554 shares during the period. Delta Investment Management LLC’s holdings in Tesla were worth $1,948,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Means Investment CO. Inc. grew its stake in Tesla by 37.7% during the 1st quarter. Means Investment CO. Inc. now owns 23,089 shares of the electric vehicle producer’s stock valued at $5,984,000 after purchasing an additional 6,323 shares during the last quarter. Focus Financial Network Inc. boosted its position in Tesla by 3.1% during the first quarter. Focus Financial Network Inc. now owns 22,467 shares of the electric vehicle producer’s stock worth $5,823,000 after purchasing an additional 670 shares in the last quarter. Keystone Global Partners LLC purchased a new stake in shares of Tesla during the first quarter worth about $594,000. IFM Investors Pty Ltd lifted its holdings in Tesla by 8.5% in the 1st quarter. IFM Investors Pty Ltd now owns 586,460 shares of the electric vehicle producer’s stock valued at $153,436,000 after purchasing an additional 46,087 shares in the last quarter. Finally, Harvard Management Co. Inc. acquired a new position in shares of Tesla during the 4th quarter worth approximately $8,158,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on TSLA shares. The Goldman Sachs Group restated a “neutral” rating on shares of Tesla in a report on Sunday, August 17th. Canaccord Genuity Group increased their price target on shares of Tesla from $303.00 to $333.00 and gave the company a “buy” rating in a research note on Thursday, July 24th. Piper Sandler reiterated an “overweight” rating and set a $400.00 price target on shares of Tesla in a research note on Tuesday, June 10th. Royal Bank Of Canada restated an “overweight” rating on shares of Tesla in a research note on Tuesday, July 29th. Finally, Mizuho reduced their price target on shares of Tesla from $390.00 to $375.00 and set an “outperform” rating for the company in a research report on Tuesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, fifteen have assigned a Hold rating and nine have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $303.31.

Insider Activity

In related news, CFO Vaibhav Taneja sold 6,000 shares of the stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $341.02, for a total value of $2,046,120.00. Following the sale, the chief financial officer owned 1,950 shares of the company’s stock, valued at $664,989. This trade represents a 75.47% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Xiaotong Zhu sold 15,000 shares of the stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $323.81, for a total value of $4,857,150.00. Following the completion of the transaction, the senior vice president directly owned 67,600 shares of the company’s stock, valued at $21,889,556. This trade represents a 18.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 30,564 shares of company stock valued at $9,757,390 in the last 90 days. Insiders own 20.70% of the company’s stock.

Tesla Price Performance

TSLA stock opened at $351.67 on Wednesday. Tesla, Inc. has a 1 year low of $202.59 and a 1 year high of $488.54. The firm has a market cap of $1.13 trillion, a P/E ratio of 203.28, a price-to-earnings-growth ratio of 12.05 and a beta of 2.33. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04. The stock has a 50-day simple moving average of $322.32 and a 200-day simple moving average of $302.82.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.03). Tesla had a net margin of 6.54% and a return on equity of 7.98%. The business had revenue of $22.50 billion for the quarter, compared to analysts’ expectations of $23.18 billion. During the same quarter last year, the company posted $0.52 earnings per share. The business’s quarterly revenue was down 11.8% compared to the same quarter last year. On average, equities analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

About Tesla

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.