von Borstel & Associates Inc. Reduces Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

von Borstel & Associates Inc. decreased its position in Tesla, Inc. (NASDAQ:TSLA) by 4.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,462 shares of the electric vehicle producer’s stock after selling 73 shares during the period. Tesla comprises approximately 0.1% of von Borstel & Associates Inc.’s portfolio, making the stock its 25th biggest holding. von Borstel & Associates Inc.’s holdings in Tesla were worth $378,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of TSLA. Cherry Tree Wealth Management LLC lifted its position in shares of Tesla by 86.3% during the first quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer’s stock worth $25,000 after acquiring an additional 44 shares in the last quarter. First PREMIER Bank lifted its position in shares of Tesla by 79.2% during the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer’s stock worth $25,000 after acquiring an additional 42 shares in the last quarter. Newton One Investments LLC lifted its position in shares of Tesla by 250.0% during the first quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer’s stock worth $27,000 after acquiring an additional 75 shares in the last quarter. True Wealth Design LLC lifted its position in shares of Tesla by 79.5% during the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer’s stock worth $28,000 after acquiring an additional 31 shares in the last quarter. Finally, Horrell Capital Management Inc. lifted its position in shares of Tesla by 75.6% during the fourth quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock worth $32,000 after acquiring an additional 34 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Transactions at Tesla

In other news, Director Kimbal Musk sold 91,588 shares of Tesla stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $357.39, for a total value of $32,732,635.32. Following the transaction, the director owned 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robyn M. Denholm sold 112,395 shares of Tesla stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $274.12, for a total value of $30,809,717.40. Following the completion of the transaction, the director owned 85,000 shares in the company, valued at approximately $23,300,200. This represents a 56.94% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 833,509 shares of company stock valued at $278,648,925. 20.70% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

TSLA has been the topic of several recent research reports. Piper Sandler restated an “overweight” rating and set a $400.00 target price on shares of Tesla in a research report on Tuesday, June 10th. Wedbush restated an “outperform” rating and set a $500.00 target price on shares of Tesla in a research report on Tuesday. JPMorgan Chase & Co. dropped their target price on Tesla from $120.00 to $115.00 and set an “underweight” rating on the stock in a research report on Wednesday, April 23rd. Stifel Nicolaus set a $450.00 price objective on Tesla and gave the stock a “buy” rating in a research report on Thursday, April 24th. Finally, Cfra Research downgraded Tesla from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, April 22nd. Ten investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Tesla currently has an average rating of “Hold” and an average price target of $301.24.

Tesla Stock Down 0.7%

Shares of NASDAQ:TSLA opened at $313.56 on Friday. The stock has a market capitalization of $1.01 trillion, a P/E ratio of 172.29, a price-to-earnings-growth ratio of 9.17 and a beta of 2.39. The stock’s 50-day moving average price is $320.93 and its 200-day moving average price is $325.92. The company has a current ratio of 2.00, a quick ratio of 1.54 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a 12-month low of $182.00 and a 12-month high of $488.54.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data 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). The company had revenue of $19.34 billion during the quarter, compared to analysts’ expectations of $22.93 billion. Tesla had a return on equity of 9.02% and a net margin of 6.66%. During the same quarter in the prior year, the firm posted $0.45 EPS. On average, equities analysts anticipate that Tesla, Inc. will post 2.56 earnings per share 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.