Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Horizon Wealth Management LLC

Horizon Wealth Management LLC reduced its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 6.7% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 7,614 shares of the electric vehicle producer’s stock after selling 544 shares during the period. Tesla makes up about 0.3% of Horizon Wealth Management LLC’s holdings, making the stock its 25th largest position. Horizon Wealth Management LLC’s holdings in Tesla were worth $1,338,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Norges Bank purchased a new stake in shares of Tesla during the 4th quarter worth approximately $7,844,757,000. International Assets Investment Management LLC increased its position in shares of Tesla by 25,990.7% in the fourth quarter. International Assets Investment Management LLC now owns 6,202,806 shares of the electric vehicle producer’s stock valued at $1,541,273,000 after buying an additional 6,179,032 shares in the last quarter. Vanguard Group Inc. increased its holdings in Tesla by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 229,806,372 shares of the electric vehicle producer’s stock valued at $57,102,287,000 after acquiring an additional 3,866,361 shares in the last quarter. Morgan Stanley increased its stake in shares of Tesla by 7.8% during the 3rd quarter. Morgan Stanley now owns 30,160,747 shares of the electric vehicle producer’s stock worth $7,546,823,000 after purchasing an additional 2,177,397 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its holdings in shares of Tesla by 2,101.1% in the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,469,190 shares of the electric vehicle producer’s stock worth $365,064,000 after acquiring an additional 1,402,443 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insider Transactions at Tesla

In related news, SVP Xiaotong Zhu sold 650 shares of the company’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $174.21, for a total value of $113,236.50. Following the completion of the sale, the senior vice president now owns 65,155 shares of the company’s stock, valued at $11,350,652.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Robyn M. Denholm sold 93,705 shares of the company’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $184.86, for a total value of $17,322,306.30. Following the completion of the sale, the director now owns 15,000 shares in the company, valued at $2,772,900. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Xiaotong Zhu sold 650 shares of Tesla stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $174.21, for a total value of $113,236.50. Following the transaction, the senior vice president now directly owns 65,155 shares in the company, valued at $11,350,652.55. The disclosure for this sale can be found here. Company insiders own 20.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Tesla from $123.00 to $136.00 and gave the stock a “hold” rating in a research note on Thursday, April 25th. Morgan Stanley restated an “overweight” rating and issued a $310.00 price objective on shares of Tesla in a report on Thursday, June 20th. Barclays dropped their target price on shares of Tesla from $225.00 to $180.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 17th. Sanford C. Bernstein restated an “underperform” rating and issued a $120.00 price target on shares of Tesla in a report on Monday, June 10th. Finally, Guggenheim reissued a “sell” rating and issued a $126.00 price objective on shares of Tesla in a research report on Tuesday, June 25th. Seven investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, Tesla currently has an average rating of “Hold” and an average target price of $187.30.

Tesla Stock Performance

Shares of TSLA stock traded up $14.01 during trading hours on Monday, reaching $211.89. The stock had a trading volume of 96,644,656 shares, compared to its average volume of 95,341,406. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.72 and a quick ratio of 1.17. The firm has a 50-day simple moving average of $177.80 and a 200-day simple moving average of $191.38. The firm has a market capitalization of $675.76 billion, a PE ratio of 53.55, a price-to-earnings-growth ratio of 4.91 and a beta of 2.31. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $299.29.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Tuesday, April 23rd. The electric vehicle producer reported $0.35 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.35. Tesla had a return on equity of 13.18% and a net margin of 14.37%. The company had revenue of $21.30 billion for the quarter, compared to analysts’ expectations of $22.15 billion. As a group, equities analysts forecast that Tesla, Inc. will post 1.86 earnings per share for the current year.

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.