Kooman & Associates Decreases Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Kooman & Associates lowered its stake in Tesla, Inc. (NASDAQ:TSLA) by 5.0% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,129 shares of the electric vehicle producer’s stock after selling 59 shares during the quarter. Kooman & Associates’ holdings in Tesla were worth $293,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Tesla during the 4th quarter valued at about $56,600,000. Means Investment CO. Inc. raised its position in shares of 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 buying an additional 6,323 shares in the last quarter. Focus Financial Network Inc. raised its position in shares of Tesla by 3.1% during the 1st quarter. Focus Financial Network Inc. now owns 22,467 shares of the electric vehicle producer’s stock valued at $5,823,000 after buying an additional 670 shares in the last quarter. IFM Investors Pty Ltd raised its position in shares of Tesla by 8.5% during 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 buying an additional 46,087 shares in the last quarter. Finally, Harvard Management Co. Inc. purchased a new stake in Tesla in the 4th quarter worth about $8,158,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Price Performance

TSLA opened at $321.67 on Thursday. The company’s 50 day simple moving average is $324.95 and its 200 day simple moving average is $318.49. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.54 and a current ratio of 2.00. Tesla, Inc. has a 1 year low of $182.00 and a 1 year high of $488.54. The stock has a market capitalization of $1.04 trillion, a PE ratio of 176.74, a P/E/G ratio of 9.26 and a beta of 2.39.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results 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). The business had revenue of $19.34 billion for the quarter, compared to analyst estimates of $22.93 billion. Tesla had a net margin of 6.66% and a return on equity of 9.02%. During the same period last year, the firm earned $0.45 earnings per share. As a group, sell-side analysts expect that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Buying and Selling at Tesla

In related news, Director Ira Matthew Ehrenpreis sold 477,572 shares of Tesla stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $357.30, for a total value of $170,636,475.60. Following the completion of the sale, the director owned 855,394 shares in the company, valued at approximately $305,632,276.20. The trade was a 35.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kimbal Musk sold 91,588 shares of Tesla stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $357.39, for a total transaction of $32,732,635.32. Following the completion of the sale, the director owned 1,463,220 shares of the company’s stock, valued at approximately $522,940,195.80. This trade represents a 5.89% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 835,509 shares of company stock valued at $279,420,485. 20.70% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on TSLA. Cantor Fitzgerald reduced their price objective on shares of Tesla from $425.00 to $355.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 23rd. Baird R W lowered shares of Tesla from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 9th. Guggenheim reissued a “sell” rating and issued a $175.00 price objective on shares of Tesla in a research report on Tuesday, July 8th. HSBC reissued a “reduce” rating and issued a $120.00 price objective on shares of Tesla in a research report on Thursday, July 3rd. Finally, Raymond James Financial lowered shares of Tesla to an “outperform” rating in a research report on Tuesday, April 22nd. Ten research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $300.19.

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.