Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Legacy Trust

Legacy Trust trimmed its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 5.6% in the 1st quarter, HoldingsChannel.com reports. The fund owned 704 shares of the electric vehicle producer’s stock after selling 42 shares during the quarter. Legacy Trust’s holdings in Tesla were worth $182,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Vanguard Group Inc. lifted its stake in shares of Tesla by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 243,193,181 shares of the electric vehicle producer’s stock valued at $98,211,134,000 after purchasing an additional 3,571,793 shares during the period. Geode Capital Management LLC lifted its stake in shares of Tesla by 2.8% in the 4th quarter. Geode Capital Management LLC now owns 61,011,604 shares of the electric vehicle producer’s stock valued at $24,566,217,000 after purchasing an additional 1,655,203 shares during the period. Norges Bank acquired a new position in shares of Tesla in the 4th quarter valued at $14,420,248,000. FMR LLC lifted its stake in shares of Tesla by 40.1% in the 4th quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer’s stock valued at $13,997,660,000 after purchasing an additional 9,920,325 shares during the period. Finally, Northern Trust Corp lifted its stake in shares of Tesla by 21.6% in the 4th quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer’s stock valued at $11,541,592,000 after purchasing an additional 5,075,418 shares during the period. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Tesla Stock Performance

Shares of TSLA stock opened at $319.11 on Friday. The firm’s 50 day moving average price is $297.32 and its 200-day moving average price is $332.97. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. Tesla, Inc. has a one year low of $176.92 and a one year high of $488.54. The firm has a market cap of $1.03 trillion, a P/E ratio of 156.43, a P/E/G ratio of 5.86 and a beta of 2.47.

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

Insider Transactions at Tesla

In other news, Director Joseph Gebbia bought 4,000 shares of the business’s stock in a transaction that occurred on Thursday, April 24th. The shares were purchased at an average cost of $256.31 per share, for a total transaction of $1,025,240.00. Following the completion of the purchase, the director now owns 4,111 shares of the company’s stock, valued at approximately $1,053,690.41. This represents a 3,603.60% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of the company’s stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $357.30, for a total transaction of $170,636,475.60. Following the sale, the director now owns 855,394 shares in the company, valued at $305,632,276.20. The trade was a 35.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 818,509 shares of company stock valued at $273,791,775. 20.70% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

TSLA has been the subject of several analyst reports. Barclays decreased 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. HSBC cut their price target on shares of Tesla from $165.00 to $130.00 and set a “reduce” rating for the company in a report on Thursday, March 27th. Robert W. Baird reissued a “neutral” rating and issued a $320.00 price target on shares of Tesla in a report on Monday. BNP Paribas set a $137.00 price target on shares of Tesla and gave the stock an “underperform” rating in a report on Wednesday, April 16th. Finally, Cantor Fitzgerald cut their price target on shares of Tesla from $425.00 to $355.00 and set an “overweight” rating for the company in a report on Wednesday, April 23rd. Ten research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $293.67.

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.