Stonehearth Capital Management LLC Sells 678 Shares of Tesla, Inc. (NASDAQ:TSLA)

Stonehearth Capital Management LLC decreased its holdings in Tesla, Inc. (NASDAQ:TSLA) by 37.9% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,110 shares of the electric vehicle producer’s stock after selling 678 shares during the period. Stonehearth Capital Management LLC’s holdings in Tesla were worth $288,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the business. 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. Vista Finance LLC grew its holdings in shares of Tesla by 0.7% during the fourth quarter. Vista Finance LLC now owns 3,510 shares of the electric vehicle producer’s stock valued at $1,417,000 after buying an additional 25 shares during the last quarter. Prospect Financial Services LLC grew its holdings in shares of Tesla by 0.3% during the fourth quarter. Prospect Financial Services LLC now owns 7,500 shares of the electric vehicle producer’s stock valued at $3,029,000 after buying an additional 26 shares during the last quarter. Jmac Enterprises LLC grew its holdings in shares of Tesla by 0.7% during the fourth quarter. Jmac Enterprises LLC now owns 3,884 shares of the electric vehicle producer’s stock valued at $1,569,000 after buying an additional 26 shares during the last quarter. Finally, TFB Advisors LLC grew its holdings in shares of Tesla by 0.5% during the fourth quarter. TFB Advisors LLC now owns 5,213 shares of the electric vehicle producer’s stock valued at $2,105,000 after buying an additional 27 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

Analysts Set New Price Targets

TSLA has been the topic of a number of research analyst reports. 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. Mizuho boosted their target price on shares of Tesla from $325.00 to $390.00 and gave the company an “outperform” rating in a research report on Friday, May 16th. Wells Fargo & Company decreased their target price on shares of Tesla from $135.00 to $130.00 and set an “underweight” rating for the company in a research report on Friday, March 14th. Piper Sandler set a $400.00 target price on shares of Tesla in a research report on Tuesday, May 6th. Finally, Royal Bank of Canada decreased their target price on shares of Tesla from $314.00 to $307.00 and set an “outperform” rating for the company in a research report on Wednesday, April 23rd. Ten equities research analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $293.97.

Tesla Stock Down 1.7%

TSLA opened at $356.90 on Thursday. Tesla, Inc. has a twelve month low of $167.41 and a twelve month high of $488.54. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. The company has a 50-day moving average price of $284.09 and a 200 day moving average price of $333.75. The company has a market cap of $1.15 trillion, a PE ratio of 174.95, a price-to-earnings-growth ratio of 5.86 and a beta of 2.43.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.26). The business had revenue of $19.34 billion during the quarter, compared to analyst estimates of $22.93 billion. Tesla had a net margin of 7.26% and a return on equity of 10.31%. During the same quarter in the previous year, the company posted $0.45 EPS. Sell-side analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Buying and Selling at Tesla

In other Tesla news, Director Robyn M. Denholm sold 112,395 shares of the stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $274.12, for a total value of $30,809,717.40. Following the completion of the sale, the director now owns 85,000 shares in the company, valued at approximately $23,300,200. This represents a 56.94% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Vaibhav Taneja sold 3,000 shares of the stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $350.11, for a total transaction of $1,050,330.00. Following the completion of the sale, the chief financial officer now owns 26,950 shares of the company’s stock, valued at approximately $9,435,464.50. The trade was a 10.02% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 415,623 shares of company stock worth $116,650,831. 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.