Handelsinvest Investeringsforvaltning Sells 2,521 Shares of Tesla, Inc. (NASDAQ:TSLA)

Handelsinvest Investeringsforvaltning trimmed its holdings in Tesla, Inc. (NASDAQ:TSLA) by 37.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,203 shares of the electric vehicle producer’s stock after selling 2,521 shares during the quarter. Handelsinvest Investeringsforvaltning’s holdings in Tesla were worth $739,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of the business. Holderness Investments Co. boosted its position in shares of Tesla by 1.6% during the third quarter. Holderness Investments Co. now owns 2,599 shares of the electric vehicle producer’s stock valued at $650,000 after buying an additional 42 shares during the last quarter. Daymark Wealth Partners LLC grew its holdings in Tesla by 0.4% during the fourth quarter. Daymark Wealth Partners LLC now owns 10,554 shares of the electric vehicle producer’s stock valued at $2,622,000 after purchasing an additional 45 shares during the period. Cravens & Co Advisors LLC boosted its position in shares of Tesla by 1.2% in the third quarter. Cravens & Co Advisors LLC now owns 4,095 shares of the electric vehicle producer’s stock worth $1,025,000 after purchasing an additional 48 shares during the period. Patten & Patten Inc. TN increased its stake in shares of Tesla by 1.1% in the fourth quarter. Patten & Patten Inc. TN now owns 4,601 shares of the electric vehicle producer’s stock worth $1,143,000 after purchasing an additional 48 shares in the last quarter. Finally, Caerus Investment Advisors LLC raised its position in shares of Tesla by 0.3% during the 4th quarter. Caerus Investment Advisors LLC now owns 14,395 shares of the electric vehicle producer’s stock valued at $3,577,000 after purchasing an additional 49 shares during the period. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Tesla

In other Tesla news, Director Robyn M. Denholm sold 93,705 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $184.86, for a total transaction of $17,322,306.30. Following the sale, the director now owns 15,000 shares of the company’s stock, valued at approximately $2,772,900. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Director Robyn M. Denholm sold 93,705 shares of the firm’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $184.86, for a total transaction of $17,322,306.30. Following the sale, the director now owns 15,000 shares in the company, valued at $2,772,900. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Xiaotong Zhu sold 650 shares of Tesla 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 transaction, the senior vice president now owns 65,155 shares of the company’s stock, valued at approximately $11,350,652.55. The disclosure for this sale can be found here. 20.90% of the stock is currently owned by insiders.

Tesla Trading Up 3.4 %

Shares of NASDAQ:TSLA opened at $239.15 on Wednesday. The company has a market capitalization of $762.70 billion, a PE ratio of 59.00, a P/E/G ratio of 4.91 and a beta of 2.31. The company has a current ratio of 1.72, a quick ratio of 1.17 and a debt-to-equity ratio of 0.04. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $299.29. The business’s fifty day simple moving average is $179.16 and its 200-day simple moving average is $191.09.

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

Analysts Set New Price Targets

TSLA has been the topic of several research analyst reports. Needham & Company LLC reissued a “hold” rating on shares of Tesla in a report on Wednesday, April 24th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $175.00 target price on shares of Tesla in a report on Wednesday. Cantor Fitzgerald reissued an “overweight” rating and set a $230.00 price target on shares of Tesla in a research note on Monday. HSBC reduced their price objective on Tesla from $138.00 to $120.00 and set a “reduce” rating on the stock in a research note on Wednesday, April 24th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of Tesla from $123.00 to $136.00 and gave the company a “hold” rating in a report on Thursday, April 25th. Seven investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $188.40.

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.