Belmont Capital LLC Sells 1,181 Shares of Tesla, Inc. (NASDAQ:TSLA)

Belmont Capital LLC lessened its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 4.1% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 27,887 shares of the electric vehicle producer's stock after selling 1,181 shares during the period. Tesla accounts for 1.8% of Belmont Capital LLC's portfolio, making the stock its 11th largest position. Belmont Capital LLC's holdings in Tesla were worth $11,262,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Hengehold Capital Management LLC grew its position in Tesla by 1.8% in the 4th quarter. Hengehold Capital Management LLC now owns 1,347 shares of the electric vehicle producer's stock valued at $544,000 after purchasing an additional 24 shares during the period. Strategic Investment Advisors MI grew its holdings in shares of Tesla by 0.3% during the fourth quarter. Strategic Investment Advisors MI now owns 6,990 shares of the electric vehicle producer's stock valued at $2,823,000 after buying an additional 24 shares during the last quarter. Acropolis Investment Management LLC increased its position in shares of Tesla by 0.9% during the fourth quarter. Acropolis Investment Management LLC now owns 2,814 shares of the electric vehicle producer's stock worth $1,136,000 after acquiring an additional 25 shares in the last quarter. Mount Vernon Associates Inc. MD raised its holdings in shares of Tesla by 0.3% in the 4th quarter. Mount Vernon Associates Inc. MD now owns 7,305 shares of the electric vehicle producer's stock worth $2,950,000 after acquiring an additional 25 shares during the last quarter. Finally, Vista Finance LLC lifted its position in Tesla by 0.7% in the 4th quarter. Vista Finance LLC now owns 3,510 shares of the electric vehicle producer's stock valued at $1,417,000 after acquiring an additional 25 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors.

Tesla Stock Performance

Shares of NASDAQ TSLA opened at $241.17 on Friday. The stock has a market cap of $775.71 billion, a price-to-earnings ratio of 118.22, a P/E/G ratio of 5.86 and a beta of 2.58. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $488.54. The stock's 50-day moving average is $275.67 and its 200 day moving average is $322.33. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS for the quarter, missing analysts' consensus estimates of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. On average, sell-side analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

TSLA has been the subject of several analyst reports. Glj Research reissued a "buy" rating on shares of Tesla in a research note on Tuesday, March 11th. Bank of America cut their price objective on shares of Tesla from $490.00 to $380.00 and set a "neutral" rating on the stock in a report on Tuesday, March 4th. Truist Financial cut their price target on shares of Tesla from $373.00 to $280.00 and set a "hold" rating on the stock in a report on Thursday, April 3rd. Needham & Company LLC restated a "hold" rating on shares of Tesla in a research note on Monday, February 10th. Finally, Wedbush cut their price objective on Tesla from $550.00 to $315.00 and set an "outperform" rating on the stock in a research report on Monday, April 7th. Nine equities research analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Tesla currently has a consensus rating of "Hold" and a consensus price target of $292.18.

Insider Transactions at Tesla

In related news, Director Kimbal Musk sold 75,000 shares of the company's stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $367.87, for a total transaction of $27,590,250.00. Following the completion of the transaction, the director now owns 1,463,220 shares in the company, valued at $538,274,741.40. This represents a 4.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James R. Murdoch sold 54,776 shares of the business's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the transaction, the director now directly owns 477,011 shares in the company, valued at approximately $114,859,478.69. The trade was a 10.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 374,228 shares of company stock worth $123,791,123. Insiders own 20.70% of the company's stock.

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.

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