Oak Harvest Investment Services Lowers Stake in Tesla, Inc. (NASDAQ:TSLA)

Oak Harvest Investment Services lessened its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 80.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,162 shares of the electric vehicle producer’s stock after selling 4,700 shares during the period. Oak Harvest Investment Services’ holdings in Tesla were worth $204,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in TSLA. Wyrmwood Management LLC purchased a new stake in shares of Tesla in the fourth quarter worth about $25,000. Lam Group Inc. acquired a new position in shares of Tesla in 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 in the last quarter. OLD Point Trust & Financial Services N A acquired a new position in shares of Tesla in the fourth quarter worth about $37,000. Finally, Guardian Wealth Management Inc. acquired a new position in shares of Tesla in the fourth quarter worth about $47,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insiders Place Their Bets

In other news, Director Robyn M. Denholm sold 93,705 shares of the stock in a transaction dated 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 transaction, the director now owns 15,000 shares of the company’s stock, valued at approximately $2,772,900. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director Robyn M. Denholm sold 93,705 shares of the company’s 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 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 SEC, which is available through this link. Also, SVP Xiaotong Zhu sold 650 shares of the business’s stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $174.21, for a total transaction of $113,236.50. Following the transaction, the senior vice president now directly owns 65,155 shares of the company’s stock, valued at approximately $11,350,652.55. The disclosure for this sale can be found here. Insiders own 20.90% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on TSLA shares. 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. Evercore ISI cut their price objective on Tesla from $155.00 to $145.00 and set an “in-line” rating on the stock in a research note on Monday, April 29th. Citigroup restated a “neutral” rating on shares of Tesla in a research note on Wednesday, June 12th. Needham & Company LLC restated a “hold” rating on shares of Tesla in a research note on Wednesday, April 24th. Finally, UBS Group dropped their price target on Tesla from $160.00 to $147.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 24th. Seven equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $189.47.

Tesla Price Performance

TSLA opened at $246.39 on Friday. The stock has a fifty day moving average price of $184.10 and a 200 day moving average price of $191.70. The company has a current ratio of 1.72, a quick ratio of 1.17 and a debt-to-equity ratio of 0.04. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $299.29. The stock has a market cap of $785.79 billion, a price-to-earnings ratio of 62.85, a PEG ratio of 6.11 and a beta of 2.31.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results 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 during 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%. Analysts forecast that Tesla, Inc. will post 1.86 EPS for the current fiscal 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.