Financial Management Professionals Inc. Sells 261 Shares of Tesla, Inc. (NASDAQ:TSLA)

Financial Management Professionals Inc. reduced its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 6.1% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 4,045 shares of the electric vehicle producer’s stock after selling 261 shares during the period. Financial Management Professionals Inc.’s holdings in Tesla were worth $711,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Kathmere Capital Management LLC boosted its holdings in Tesla by 9.2% in the 1st quarter. Kathmere Capital Management LLC now owns 1,177 shares of the electric vehicle producer’s stock valued at $207,000 after purchasing an additional 99 shares during the period. DeDora Capital Inc. raised its position in Tesla by 3.7% in the 1st quarter. DeDora Capital Inc. now owns 19,150 shares of the electric vehicle producer’s stock worth $3,366,000 after purchasing an additional 685 shares during the period. Register Financial Advisors LLC raised its position in Tesla by 32.7% in the 1st quarter. Register Financial Advisors LLC now owns 1,677 shares of the electric vehicle producer’s stock worth $295,000 after purchasing an additional 413 shares during the period. Capital Asset Advisory Services LLC raised its position in Tesla by 25.4% in the 1st quarter. Capital Asset Advisory Services LLC now owns 20,396 shares of the electric vehicle producer’s stock worth $3,363,000 after purchasing an additional 4,130 shares during the period. Finally, Howard Financial Services LTD. raised its position in Tesla by 22.1% in the 1st quarter. Howard Financial Services LTD. now owns 4,864 shares of the electric vehicle producer’s stock worth $855,000 after purchasing an additional 882 shares during the period. 66.20% of the stock is owned by institutional investors.

Tesla Stock Performance

Shares of Tesla stock opened at $197.88 on Friday. Tesla, Inc. has a 52 week low of $138.80 and a 52 week 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. The firm’s 50 day moving average is $177.80 and its two-hundred day moving average is $192.03. The firm has a market capitalization of $631.08 billion, a P/E ratio of 50.48, a P/E/G ratio of 4.90 and a beta of 2.32.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Tuesday, April 23rd. The electric vehicle producer reported $0.35 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.35. The business had revenue of $21.30 billion during the quarter, compared to the consensus estimate of $22.15 billion. Tesla had a return on equity of 13.18% and a net margin of 14.37%. Research analysts forecast that Tesla, Inc. will post 1.87 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Jefferies Financial Group decreased their target price on shares of Tesla from $185.00 to $165.00 and set a “hold” rating on the stock in a research report on Wednesday, April 10th. Evercore ISI cut their price target on shares of Tesla from $155.00 to $145.00 and set an “in-line” rating on the stock in a report on Monday, April 29th. Stifel Nicolaus started coverage on shares of Tesla in a research note on Tuesday. They set a “buy” rating and a $265.00 target price on the stock. Truist Financial dropped their price objective on shares of Tesla from $176.00 to $162.00 and set a “hold” rating on the stock in a research note on Wednesday, April 24th. Finally, New Street Research reissued a “buy” rating and set a $235.00 price objective on shares of Tesla in a research note on Tuesday. Seven analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $187.30.

Insider Buying and Selling

In related news, 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 transaction of $17,322,306.30. Following the completion of the sale, the director now owns 15,000 shares in the company, valued at approximately $2,772,900. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, 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 transaction of $17,322,306.30. Following the completion of the sale, the director now owns 15,000 shares in the company, valued at approximately $2,772,900. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Andrew D. Baglino sold 10,500 shares of Tesla stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $176.20, for a total value of $1,850,100.00. Following the sale, the senior vice president now owns 31,230 shares of the company’s stock, valued at approximately $5,502,726. The disclosure for this sale can be found here. In the last quarter, insiders sold 104,855 shares of company stock worth $19,285,643. 25.10% of the stock is owned by corporate 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.