Tesla, Inc. (NASDAQ:TSLA) is Burr Financial Services LLC’s 6th Largest Position

Burr Financial Services LLC trimmed its stake in Tesla, Inc. (NASDAQ:TSLA) by 5.4% in the first quarter, Holdings Channel.com reports. The firm owned 27,821 shares of the electric vehicle producer’s stock after selling 1,598 shares during the quarter. Tesla comprises 5.7% of Burr Financial Services LLC’s portfolio, making the stock its 6th largest holding. Burr Financial Services LLC’s holdings in Tesla were worth $7,210,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in the stock. Verde Capital Management lifted its position in shares of Tesla by 5.0% in the first quarter. Verde Capital Management now owns 20,819 shares of the electric vehicle producer’s stock worth $5,395,000 after purchasing an additional 997 shares in the last quarter. Presidio Capital Management LLC lifted its position in shares of Tesla by 10.4% in the first quarter. Presidio Capital Management LLC now owns 4,337 shares of the electric vehicle producer’s stock worth $1,124,000 after purchasing an additional 409 shares in the last quarter. IVC Wealth Advisors LLC lifted its position in shares of Tesla by 12.4% in the first quarter. IVC Wealth Advisors LLC now owns 2,615 shares of the electric vehicle producer’s stock worth $678,000 after purchasing an additional 289 shares in the last quarter. Whitcomb & Hess Inc. lifted its position in shares of Tesla by 19.3% in the first quarter. Whitcomb & Hess Inc. now owns 867 shares of the electric vehicle producer’s stock worth $225,000 after purchasing an additional 140 shares in the last quarter. Finally, Rooted Wealth Advisors Inc. lifted its position in shares of Tesla by 7.4% in the first quarter. Rooted Wealth Advisors Inc. now owns 2,666 shares of the electric vehicle producer’s stock worth $638,000 after purchasing an additional 183 shares in the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently weighed in on TSLA shares. HSBC cut their price objective on shares of Tesla from $165.00 to $130.00 and set a “reduce” rating on the stock in a research report on Thursday, March 27th. Truist Financial set a $280.00 price objective on shares of Tesla in a research report on Tuesday, April 22nd. UBS Group cut their price objective on shares of Tesla from $225.00 to $190.00 and set a “sell” rating on the stock in a research report on Thursday, April 10th. BNP Paribas set a $137.00 price objective on shares of Tesla and gave the company an “underperform” rating in a research report on Wednesday, April 16th. Finally, Wedbush reaffirmed an “outperform” rating and set a $500.00 price objective (up previously from $350.00) on shares of Tesla in a research report on Friday, May 23rd. Ten research analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $293.97.

Insiders Place Their Bets

In other Tesla news, Director James R. Murdoch sold 54,776 shares of Tesla stock in a transaction on Monday, March 10th. The stock was sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the completion of the transaction, the director now directly owns 477,011 shares of the company’s stock, valued at approximately $114,859,478.69. This trade represents a 10.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Vaibhav Taneja sold 6,000 shares of Tesla stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $296.02, for a total value of $1,776,120.00. Following the transaction, the chief financial officer now directly owns 23,084 shares of the company’s stock, valued at approximately $6,833,325.68. The trade was a 20.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 984,783 shares of company stock worth $320,019,942 over the last 90 days. Corporate insiders own 20.70% of the company’s stock.

Tesla Trading Down 2.6%

Shares of Tesla stock opened at $349.09 on Friday. Tesla, Inc. has a 1 year low of $167.41 and a 1 year high of $488.54. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. The company’s fifty day simple moving average is $286.92 and its 200-day simple moving average is $333.97. The company has a market cap of $1.12 trillion, a price-to-earnings ratio of 171.12, a PEG ratio of 5.86 and a beta of 2.43.

Tesla (NASDAQ:TSLA) last posted 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). Tesla had a return on equity of 10.31% and a net margin of 7.26%. The business had revenue of $19.34 billion for the quarter, compared to analyst estimates of $22.93 billion. During the same quarter in the prior year, the firm earned $0.45 EPS. As a group, sell-side analysts expect that Tesla, Inc. will post 2.56 EPS for the current 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.