Consolidated Portfolio Review Corp Reduces Position in Tesla, Inc. (NASDAQ:TSLA)

Consolidated Portfolio Review Corp decreased its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 50.3% in the first quarter, Holdings Channel.com reports. The institutional investor owned 3,004 shares of the electric vehicle producer’s stock after selling 3,041 shares during the quarter. Consolidated Portfolio Review Corp’s holdings in Tesla were worth $528,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Holderness Investments Co. increased its stake 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 worth $650,000 after buying an additional 42 shares during the period. Daymark Wealth Partners LLC increased its stake in shares of Tesla by 0.4% during the fourth quarter. Daymark Wealth Partners LLC now owns 10,554 shares of the electric vehicle producer’s stock worth $2,622,000 after buying an additional 45 shares during the period. Cravens & Co Advisors LLC increased its stake in shares of Tesla by 1.2% during the third quarter. Cravens & Co Advisors LLC now owns 4,095 shares of the electric vehicle producer’s stock worth $1,025,000 after buying an additional 48 shares during the period. Patten & Patten Inc. TN increased its stake in shares of Tesla by 1.1% during the fourth quarter. Patten & Patten Inc. TN now owns 4,601 shares of the electric vehicle producer’s stock worth $1,143,000 after buying an additional 48 shares during the period. Finally, Caerus Investment Advisors LLC increased its stake in Tesla by 0.3% in the fourth 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 last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Activity

In other news, Director Robyn M. Denholm sold 93,705 shares of the firm’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 transaction, the director now owns 15,000 shares in the company, valued at $2,772,900. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, SVP Xiaotong Zhu sold 650 shares of the firm’s stock in a transaction on Thursday, June 6th. The stock was 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 in the company, valued at $11,350,652.55. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Robyn M. Denholm sold 93,705 shares of Tesla stock in a transaction dated 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 sale, the director now owns 15,000 shares of the company’s stock, valued at approximately $2,772,900. The disclosure for this sale can be found here. Company insiders own 20.90% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Sanford C. Bernstein reiterated an “underperform” rating and issued a $120.00 price target on shares of Tesla in a research note on Monday, June 10th. TD Cowen increased their price target on shares of Tesla from $160.00 to $180.00 and gave the company a “hold” rating in a research note on Wednesday. Roth Mkm reiterated a “neutral” rating and issued a $85.00 price target on shares of Tesla in a research note on Wednesday, April 24th. Canaccord Genuity Group increased their price target on shares of Tesla from $222.00 to $254.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, New Street Research reiterated a “buy” rating and issued a $235.00 price target on shares of Tesla in a research note on Tuesday, June 25th. Seven equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, Tesla currently has an average rating of “Hold” and an average price target of $192.71.

Tesla Price Performance

Tesla stock traded up $5.13 during midday trading on Friday, reaching $251.52. The company’s stock had a trading volume of 154,501,152 shares, compared to its average volume of 82,893,608. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $299.29. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.17 and a current ratio of 1.72. The stock’s 50 day simple moving average is $185.76 and its 200 day simple moving average is $191.70. The firm has a market capitalization of $802.15 billion, a PE ratio of 64.16, a P/E/G ratio of 6.11 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, 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 during the quarter, compared to the consensus estimate of $22.15 billion. On average, equities research 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.