Woodmont Investment Counsel LLC Sells 2,100 Shares of Tesla, Inc. (NASDAQ:TSLA)

Woodmont Investment Counsel LLC trimmed its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 55.1% in the first quarter, Holdings Channel reports. The fund owned 1,712 shares of the electric vehicle producer’s stock after selling 2,100 shares during the quarter. Woodmont Investment Counsel LLC’s holdings in Tesla were worth $301,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of Tesla in the fourth quarter valued at about $7,844,757,000. International Assets Investment Management LLC lifted its stake in shares of Tesla by 25,990.7% in the fourth quarter. International Assets Investment Management LLC now owns 6,202,806 shares of the electric vehicle producer’s stock valued at $1,541,273,000 after buying an additional 6,179,032 shares during the period. Vanguard Group Inc. lifted its stake in shares of Tesla by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 229,806,372 shares of the electric vehicle producer’s stock valued at $57,102,287,000 after buying an additional 3,866,361 shares during the period. Morgan Stanley lifted its stake in shares of Tesla by 7.8% in the third quarter. Morgan Stanley now owns 30,160,747 shares of the electric vehicle producer’s stock valued at $7,546,823,000 after buying an additional 2,177,397 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its stake in shares of Tesla by 2,101.1% in the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,469,190 shares of the electric vehicle producer’s stock valued at $365,064,000 after buying an additional 1,402,443 shares during the period. 66.20% of the stock is currently owned by institutional investors.

Tesla Trading Up 10.2 %

Shares of NASDAQ TSLA opened at $231.26 on Wednesday. The company’s fifty day moving average is $179.16 and its 200-day moving average is $191.09. The stock has a market cap of $737.53 billion, a price-to-earnings ratio of 59.00, a P/E/G ratio of 4.91 and a beta of 2.31. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $299.29. 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 (NASDAQ:TSLA) last posted its quarterly earnings data on Tuesday, April 23rd. The electric vehicle producer reported $0.35 EPS for the quarter, meeting the consensus estimate of $0.35. The business had revenue of $21.30 billion for the quarter, compared to analysts’ expectations of $22.15 billion. Tesla had a net margin of 14.37% and a return on equity of 13.18%. Equities research analysts predict that Tesla, Inc. will post 1.86 EPS for the current year.

Insider Activity at Tesla

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft increased their target price on shares of Tesla from $123.00 to $136.00 and gave the company a “hold” rating in a research note on Thursday, April 25th. Bank of America raised shares of Tesla from a “neutral” rating to a “buy” rating and set a $220.00 price target for the company in a research report on Wednesday, April 24th. Citigroup reissued a “neutral” rating on shares of Tesla in a research report on Wednesday, June 12th. Cantor Fitzgerald reissued an “overweight” rating and issued a $230.00 price target on shares of Tesla in a research report on Monday. Finally, Mizuho dropped their price target on shares of Tesla from $195.00 to $180.00 and set a “neutral” rating for the company in a research report on Wednesday, April 24th. Seven equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $187.30.

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.