Clarius Group LLC Decreases Holdings in Tesla, Inc. (NASDAQ:TSLA)

Clarius Group LLC lessened its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 7.2% during the first quarter, HoldingsChannel reports. The firm owned 26,892 shares of the electric vehicle producer’s stock after selling 2,091 shares during the period. Clarius Group LLC’s holdings in Tesla were worth $6,969,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of TSLA. Vista Finance LLC grew its holdings in shares of Tesla by 0.7% during the 4th quarter. Vista Finance LLC now owns 3,510 shares of the electric vehicle producer’s stock worth $1,417,000 after purchasing an additional 25 shares in the last quarter. Vista Capital Partners Inc. lifted its position in Tesla by 1.4% in the fourth quarter. Vista Capital Partners Inc. now owns 1,969 shares of the electric vehicle producer’s stock worth $795,000 after purchasing an additional 27 shares during the period. Blackston Financial Advisory Group LLC boosted its stake in Tesla by 1.3% during the fourth quarter. Blackston Financial Advisory Group LLC now owns 2,166 shares of the electric vehicle producer’s stock worth $875,000 after buying an additional 27 shares in the last quarter. Kooman & Associates raised its stake in shares of Tesla by 2.4% in the 4th quarter. Kooman & Associates now owns 1,188 shares of the electric vehicle producer’s stock valued at $480,000 after buying an additional 28 shares in the last quarter. Finally, Rinkey Investments raised its stake in shares of Tesla by 3.5% in the 4th quarter. Rinkey Investments now owns 860 shares of the electric vehicle producer’s stock valued at $347,000 after buying an additional 29 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Price Performance

Shares of TSLA stock opened at $316.73 on Wednesday. The firm has a market cap of $1.02 trillion, a price-to-earnings ratio of 174.03, a PEG ratio of 12.36 and a beta of 2.47. Tesla, Inc. has a 12 month low of $179.66 and a 12 month high of $488.54. The company has a quick ratio of 1.54, a current ratio of 2.00 and a debt-to-equity ratio of 0.07. The stock has a 50-day moving average price of $302.42 and a 200 day moving average price of $332.66.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS 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 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. Research analysts expect that Tesla, Inc. will post 2.56 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on TSLA shares. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Tesla from $420.00 to $345.00 and set a “buy” rating on the stock in a research note on Friday, March 28th. Truist Financial set a $280.00 price objective on Tesla in a research note on Tuesday, April 22nd. Barclays cut their target price on Tesla from $325.00 to $275.00 and set an “equal weight” rating for the company in a research report on Monday, April 21st. BNP Paribas set a $137.00 price target on Tesla and gave the company an “underperform” rating in a research report on Wednesday, April 16th. Finally, Glj Research reissued a “sell” rating and set a $19.05 price objective (down from $24.86) on shares of Tesla in a report on Monday, April 21st. Ten research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $293.67.

Insiders Place Their Bets

In related news, Director Kimbal Musk sold 91,588 shares of the business’s stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $357.39, for a total transaction of $32,732,635.32. Following the completion of the transaction, the director now owns 1,463,220 shares in the company, valued at approximately $522,940,195.80. The trade was a 5.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Xiaotong Zhu sold 15,000 shares of the stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $323.81, for a total value of $4,857,150.00. Following the completion of the sale, the senior vice president now owns 67,600 shares of the company’s stock, valued at $21,889,556. This trade represents a 18.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 833,509 shares of company stock valued at $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.