Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Clark Asset Management LLC

by · The Markets Daily

Clark Asset Management LLC lowered its position in shares of Tesla, Inc. (NASDAQ:TSLA – Free Report) by 19.3% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 2,749 shares of the electric vehicle producer’s stock after selling 656 shares during the quarter. Clark Asset Management LLC’s holdings in Tesla were worth $712,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Susquehanna Fundamental Investments LLC acquired a new position in Tesla in the fourth quarter worth $56,600,000. Means Investment CO. Inc. boosted its holdings in shares of Tesla by 37.7% in the 1st quarter. Means Investment CO. Inc. now owns 23,089 shares of the electric vehicle producer’s stock valued at $5,984,000 after buying an additional 6,323 shares during the period. Focus Financial Network Inc. grew its position in shares of Tesla by 3.1% during the 1st quarter. Focus Financial Network Inc. now owns 22,467 shares of the electric vehicle producer’s stock valued at $5,823,000 after buying an additional 670 shares during the last quarter. Strategic Family Wealth Counselors L.L.C. raised its stake in Tesla by 133.7% during the fourth quarter. Strategic Family Wealth Counselors L.L.C. now owns 2,847 shares of the electric vehicle producer’s stock worth $1,150,000 after acquiring an additional 1,629 shares during the period. Finally, Harvard Management Co. Inc. bought a new position in Tesla in the fourth quarter worth about $8,158,000. Institutional investors own 66.20% of the company’s stock.

Insider Buying and Selling at Tesla

In other Tesla news, Director Kimbal Musk sold 91,588 shares of the business’s stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $357.39, for a total transaction of $32,732,635.32. Following the sale, the director directly owned 1,463,220 shares of the company’s stock, valued at $522,940,195.80. The trade was a 5.89% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Xiaotong Zhu sold 15,000 shares of the firm’s stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $323.81, for a total value of $4,857,150.00. Following the completion of the sale, the senior vice president directly owned 67,600 shares of the company’s stock, valued at approximately $21,889,556. This trade represents a 18.16% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 833,509 shares of company stock valued at $278,648,925 over the last three months. 20.70% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on TSLA. Oppenheimer reaffirmed a “mixed” rating on shares of Tesla in a report on Tuesday, March 18th. Morgan Stanley reaffirmed an “overweight” rating and issued a $410.00 target price on shares of Tesla in a research report on Friday, June 6th. TD Cowen raised shares of Tesla from a “hold” rating to a “buy” rating and boosted their price target for the company from $180.00 to $388.00 in a report on Friday, March 7th. JPMorgan Chase & Co. dropped their price objective on shares of Tesla from $120.00 to $115.00 and set an “underweight” rating on the stock in a report on Wednesday, April 23rd. Finally, Barclays reduced their target price on shares of Tesla from $325.00 to $275.00 and set an “equal weight” rating for the company in a research note on Monday, April 21st. Ten investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Tesla presently has an average rating of “Hold” and an average price target of $301.24.

Check Out Our Latest Stock Analysis on TSLA

Tesla Stock Performance

Shares of NASDAQ TSLA opened at $313.56 on Friday. Tesla, Inc. has a 52-week low of $182.00 and a 52-week high of $488.54. The stock has a market capitalization of $1.01 trillion, a price-to-earnings ratio of 172.29, a PEG ratio of 9.17 and a beta of 2.39. The company has a quick ratio of 1.54, a current ratio of 2.00 and a debt-to-equity ratio of 0.07. The stock’s fifty day simple moving average is $320.36 and its 200 day simple moving average is $327.07.

Tesla (NASDAQ:TSLA – Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.26). Tesla had a return on equity of 9.02% and a net margin of 6.66%. The company had revenue of $19.34 billion for the quarter, compared to analyst estimates of $22.93 billion. During the same quarter in the previous year, the firm posted $0.45 EPS. As a group, sell-side analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Tesla Profile

(Free Report)

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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