Condor Capital Management Decreases Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Condor Capital Management trimmed its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 3.8% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,999 shares of the electric vehicle producer’s stock after selling 78 shares during the quarter. Condor Capital Management’s holdings in Tesla were worth $351,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the company. Apexium Financial LP increased its stake in shares of Tesla by 736.8% during the fourth quarter. Apexium Financial LP now owns 24,954 shares of the electric vehicle producer’s stock valued at $6,201,000 after buying an additional 21,972 shares during the period. Mount Vernon Associates Inc. MD increased its holdings in shares of Tesla by 5.3% in the fourth quarter. Mount Vernon Associates Inc. MD now owns 6,940 shares of the electric vehicle producer’s stock valued at $1,724,000 after purchasing an additional 350 shares during the period. Forum Financial Management LP raised its stake in shares of Tesla by 19.7% in the fourth quarter. Forum Financial Management LP now owns 21,772 shares of the electric vehicle producer’s stock worth $5,410,000 after purchasing an additional 3,582 shares during the last quarter. J.W. Cole Advisors Inc. lifted its holdings in shares of Tesla by 16.6% during the fourth quarter. J.W. Cole Advisors Inc. now owns 46,414 shares of the electric vehicle producer’s stock worth $11,533,000 after purchasing an additional 6,615 shares during the period. Finally, Catalyst Financial Partners LLC boosted its position in Tesla by 9.4% in the fourth quarter. Catalyst Financial Partners LLC now owns 6,978 shares of the electric vehicle producer’s stock valued at $1,734,000 after buying an additional 598 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

Insider Buying and Selling

In other Tesla news, SVP Xiaotong Zhu sold 650 shares of the business’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $174.21, for a total value of $113,236.50. Following the transaction, the senior vice president now directly owns 65,155 shares of the company’s stock, valued at approximately $11,350,652.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Tesla news, Director Robyn M. Denholm sold 93,705 shares of the stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $184.86, for a total value of $17,322,306.30. Following the completion of the transaction, the director now directly owns 15,000 shares of the company’s stock, valued at $2,772,900. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Xiaotong Zhu sold 650 shares of the business’s stock in a transaction that occurred on Thursday, June 6th. The stock was 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 disclosure for this sale can be found here. Corporate insiders own 25.10% of the company’s stock.

Analyst Upgrades and Downgrades

TSLA has been the topic of several recent research reports. JPMorgan Chase & Co. dropped their price objective on shares of Tesla from $130.00 to $115.00 and set an “underweight” rating on the stock in a report on Wednesday, April 3rd. Royal Bank of Canada dropped their target price on Tesla from $293.00 to $227.00 and set an “outperform” rating on the stock in a report on Thursday, June 20th. New Street Research reissued a “buy” rating and issued a $235.00 price target on shares of Tesla in a report on Tuesday, June 25th. Bank of America upgraded shares of Tesla from a “neutral” rating to a “buy” rating and set a $220.00 target price for the company in a research note on Wednesday, April 24th. Finally, Jefferies Financial Group cut their price target on Tesla from $185.00 to $165.00 and set a “hold” rating for the company in a research note on Wednesday, April 10th. Eight investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $203.03.

Tesla Stock Down 3.9 %

NASDAQ TSLA traded down $9.61 during trading hours on Friday, hitting $239.62. 67,761,266 shares of the company were exchanged, compared to its average volume of 100,539,406. The company has a 50 day moving average of $198.70 and a two-hundred day moving average of $191.64. 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 has a market cap of $764.20 billion, a price-to-earnings ratio of 60.69, a PEG ratio of 6.20 and a beta of 2.31. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $280.93.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Tuesday, April 23rd. The electric vehicle producer reported $0.35 earnings per share for the quarter, meeting 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%. Equities research analysts anticipate that Tesla, Inc. will post 1.85 earnings per share for the current year.

Tesla Company Profile

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.