Zega Financial LLC Trims Position in Tesla, Inc. (NASDAQ:TSLA)

Zega Financial LLC cut its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 35.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 6,088 shares of the electric vehicle producer's stock after selling 3,284 shares during the quarter. Tesla accounts for about 0.4% of Zega Financial LLC's portfolio, making the stock its 27th largest holding. Zega Financial LLC's holdings in Tesla were worth $1,070,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Lam Group Inc. purchased a new position in shares of Tesla during the 4th quarter valued at approximately $25,000. Mendota Financial Group LLC increased its holdings in shares of Tesla by 202.2% during the 4th quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer's stock valued at $34,000 after purchasing an additional 91 shares in the last quarter. OLD Point Trust & Financial Services N A purchased a new position in shares of Tesla during the 4th quarter valued at approximately $37,000. Guardian Wealth Management Inc. purchased a new position in shares of Tesla during the 4th quarter valued at approximately $47,000. Finally, Kathleen S. Wright Associates Inc. increased its holdings in shares of Tesla by 111.1% during the 4th quarter. Kathleen S. Wright Associates Inc. now owns 190 shares of the electric vehicle producer's stock valued at $47,000 after purchasing an additional 100 shares in the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Trading Up 0.3 %

Shares of NASDAQ TSLA traded up $0.73 during trading on Thursday, hitting $249.23. 110,708,316 shares of the company were exchanged, compared to its average volume of 100,776,320. Tesla, Inc. has a 12-month low of $138.80 and a 12-month 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 company has a fifty day moving average price of $198.70 and a 200-day moving average price of $191.64. The firm has a market capitalization of $794.84 billion, a PE ratio of 63.58, a P/E/G ratio of 6.40 and a beta of 2.31.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its quarterly earnings data on Tuesday, April 23rd. The electric vehicle producer reported $0.35 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.35. The firm had revenue of $21.30 billion for the quarter, compared to analyst estimates of $22.15 billion. Tesla had a net margin of 14.37% and a return on equity of 13.18%. As a group, equities research analysts expect that Tesla, Inc. will post 1.85 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Evercore ISI cut their target price on shares of Tesla from $155.00 to $145.00 and set an "in-line" rating for the company in a report on Monday, April 29th. Deutsche Bank Aktiengesellschaft lifted their price target 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. Morgan Stanley reissued an "overweight" rating and issued a $310.00 price target on shares of Tesla in a research note on Thursday. UBS Group cut shares of Tesla from a "neutral" rating to a "sell" rating and lifted their price target for the company from $147.00 to $197.00 in a research note on Friday, July 12th. Finally, Cantor Fitzgerald reissued an "overweight" rating and issued a $230.00 price target on shares of Tesla in a research note on Monday. Eight investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $203.03.

Insider Activity at Tesla

In related news, SVP Xiaotong Zhu sold 650 shares of the business's stock in a transaction dated 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 in the company, valued at approximately $11,350,652.55. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Tesla news, Director Robyn M. Denholm sold 93,705 shares of the business's stock in a transaction dated 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 sale, the director now directly owns 15,000 shares in the company, valued at $2,772,900. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Xiaotong Zhu sold 650 shares of the business's stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $174.21, for a total transaction of $113,236.50. Following the sale, the senior vice president now owns 65,155 shares in the company, valued at $11,350,652.55. The disclosure for this sale can be found here. 25.10% of the stock is owned by insiders.

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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