Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Private Wealth Partners LLC

Private Wealth Partners LLC trimmed its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 26.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,116 shares of the electric vehicle producer’s stock after selling 2,154 shares during the period. Private Wealth Partners LLC’s holdings in Tesla were worth $1,585,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Cherry Tree Wealth Management LLC boosted its stake in shares of Tesla by 86.3% during the 1st quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer’s stock valued at $25,000 after buying an additional 44 shares during the last quarter. Newton One Investments LLC raised its holdings in Tesla by 250.0% in the first quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer’s stock valued at $27,000 after acquiring an additional 75 shares in the last quarter. True Wealth Design LLC raised its holdings in Tesla by 79.5% in the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer’s stock valued at $28,000 after acquiring an additional 31 shares in the last quarter. Horrell Capital Management Inc. boosted its stake in Tesla by 75.6% during the 4th quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock valued at $32,000 after acquiring an additional 34 shares during the last quarter. Finally, Pflug Koory LLC grew its holdings in Tesla by 370.4% during the 1st quarter. Pflug Koory LLC now owns 127 shares of the electric vehicle producer’s stock worth $33,000 after acquiring an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insiders Place Their Bets

In other Tesla news, Director Joseph Gebbia bought 4,000 shares of the company’s stock in a transaction that occurred on Thursday, April 24th. The shares were acquired at an average cost of $256.31 per share, for a total transaction of $1,025,240.00. Following the acquisition, the director now directly owns 4,111 shares of the company’s stock, valued at $1,053,690.41. This trade represents a 3,603.60% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Xiaotong Zhu sold 15,000 shares of the stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $323.81, for a total transaction of $4,857,150.00. Following the sale, the senior vice president now directly owns 67,600 shares of the company’s stock, valued at approximately $21,889,556. This represents a 18.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 833,509 shares of company stock worth $278,648,925 over the last ninety days. Company insiders own 20.70% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on TSLA shares. Bank of America cut their target price on shares of Tesla from $490.00 to $380.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 4th. Wells Fargo & Company cut their price objective on Tesla from $135.00 to $130.00 and set an “underweight” rating on the stock in a research note on Friday, March 14th. Canaccord Genuity Group reduced their target price on Tesla from $404.00 to $303.00 and set a “buy” rating on the stock in a report on Wednesday, April 23rd. Robert W. Baird reiterated a “neutral” rating and issued a $320.00 price target on shares of Tesla in a report on Monday, June 9th. Finally, Baird R W lowered Tesla from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 9th. Ten analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $293.67.

Tesla Stock Performance

Shares of TSLA opened at $322.05 on Friday. The firm has a market capitalization of $1.04 trillion, a PE ratio of 176.95, a P/E/G ratio of 12.04 and a beta of 2.47. 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 firm has a 50-day moving average price of $304.81 and a 200 day moving average price of $332.35. Tesla, Inc. has a 52-week low of $179.66 and a 52-week high of $488.54.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $22.93 billion. During the same period in the prior year, the company posted $0.45 earnings per share. On average, sell-side analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Tesla 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.