Claro Advisors LLC Sells 622 Shares of Tesla, Inc. (NASDAQ:TSLA)

Claro Advisors LLC cut its position in Tesla, Inc. (NASDAQ:TSLA) by 6.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,363 shares of the electric vehicle producer’s stock after selling 622 shares during the quarter. Claro Advisors LLC’s holdings in Tesla were worth $1,646,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Wyrmwood Management LLC acquired a new position in Tesla in the 4th quarter valued at approximately $25,000. Lam Group Inc. bought a new position in shares of Tesla during the fourth quarter worth about $25,000. Mendota Financial Group LLC lifted its stake in shares of Tesla by 202.2% in the fourth quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock worth $34,000 after acquiring an additional 91 shares during the period. OLD Point Trust & Financial Services N A acquired a new stake in Tesla during the 4th quarter valued at approximately $37,000. Finally, Kathleen S. Wright Associates Inc. raised its holdings in Tesla by 111.1% during the 4th quarter. Kathleen S. Wright Associates Inc. now owns 190 shares of the electric vehicle producer’s stock worth $47,000 after purchasing an additional 100 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Tesla

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

Tesla Stock Performance

Tesla stock traded up $11.98 during mid-day trading on Monday, reaching $209.86. 135,388,582 shares of the company’s stock were exchanged, compared to its average volume of 95,650,203. The business’s fifty day simple moving average is $177.80 and its 200 day simple moving average is $191.38. The company has a quick ratio of 1.17, a current ratio of 1.72 and a debt-to-equity ratio of 0.04. Tesla, Inc. has a one year low of $138.80 and a one year high of $299.29. The firm has a market capitalization of $669.29 billion, a PE ratio of 53.54, a P/E/G ratio of 4.91 and a beta of 2.31.

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

Analyst Upgrades and Downgrades

TSLA has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft upped their price target on shares of Tesla from $123.00 to $136.00 and gave the company a “hold” rating in a research report on Thursday, April 25th. Royal Bank of Canada cut their target price on shares of Tesla from $293.00 to $227.00 and set an “outperform” rating on the stock in a research note on Thursday, June 20th. Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a research note on Wednesday, April 24th. Barclays cut their price objective on shares of Tesla from $225.00 to $180.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 17th. Finally, Jefferies Financial Group reduced their target price on Tesla from $185.00 to $165.00 and set a “hold” rating for the company in a research note on Wednesday, April 10th. Seven research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $187.30.

Tesla Company 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.