Global Strategic Investment Solutions LLC Cuts Holdings in Tesla, Inc. (NASDAQ:TSLA)

Global Strategic Investment Solutions LLC reduced its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 32.2% in the first quarter, according to its most recent filing with the SEC. The fund owned 1,204 shares of the electric vehicle producer’s stock after selling 572 shares during the period. Global Strategic Investment Solutions LLC’s holdings in Tesla were worth $312,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

TSLA has been the subject of a number of analyst reports. Cantor Fitzgerald dropped their price objective on Tesla from $425.00 to $355.00 and set an “overweight” rating for the company in a research note on Wednesday, April 23rd. Oppenheimer reiterated a “mixed” rating on shares of Tesla in a report on Tuesday, March 18th. Cfra Research lowered Tesla from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, April 22nd. UBS Group set a $290.00 price target on Tesla in a research note on Monday. Finally, Stifel Nicolaus set a $450.00 price objective on shares of Tesla and gave the stock a “buy” rating in a report on Thursday, April 24th. Ten equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $300.64.

Tesla Stock Performance

Shares of NASDAQ:TSLA opened at $315.65 on Thursday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.54 and a current ratio of 2.00. The firm has a market cap of $1.02 trillion, a PE ratio of 173.43, a price-to-earnings-growth ratio of 11.41 and a beta of 2.39. The firm’s 50 day simple moving average is $319.28 and its 200-day simple moving average is $328.10. Tesla, Inc. has a one year low of $182.00 and a one year high of $488.54.

Tesla (NASDAQ:TSLA) last issued its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.26). Tesla had a return on equity of 9.02% and a net margin of 6.66%. 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 company posted $0.45 earnings per share. As a group, equities analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Transactions at Tesla

In other Tesla news, Director Robyn M. Denholm sold 112,395 shares of the business’s stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $274.12, for a total value of $30,809,717.40. Following the completion of the transaction, the director directly owned 85,000 shares in the company, valued at approximately $23,300,200. The trade was a 56.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of Tesla stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $357.30, for a total transaction of $170,636,475.60. Following the completion of the transaction, the director directly owned 855,394 shares in the company, valued at approximately $305,632,276.20. The trade was a 35.83% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 833,509 shares of company stock worth $278,648,925. Company insiders own 20.70% of the company’s stock.

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.