Navis Wealth Advisors LLC Sells 180 Shares of Tesla, Inc. (NASDAQ:TSLA)

Navis Wealth Advisors LLC reduced its position in Tesla, Inc. (NASDAQ:TSLA) by 8.2% in the first quarter, HoldingsChannel.com reports. The firm owned 2,008 shares of the electric vehicle producer’s stock after selling 180 shares during the period. Navis Wealth Advisors LLC’s holdings in Tesla were worth $520,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. True Wealth Design LLC raised its stake in Tesla by 79.5% during the 4th quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer’s stock valued at $28,000 after purchasing an additional 31 shares during the period. Horrell Capital Management Inc. raised its position in shares of Tesla by 75.6% during the fourth quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock valued at $32,000 after buying an additional 34 shares during the last quarter. GS Investments Inc. lifted its holdings in shares of Tesla by 193.3% in the fourth quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock worth $36,000 after buying an additional 58 shares in the last quarter. Navigoe LLC bought a new position in shares of Tesla during the fourth quarter worth $37,000. Finally, CoreFirst Bank & Trust purchased a new position in Tesla during the fourth quarter valued at $38,000. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Tesla

In related news, Director Ira Matthew Ehrenpreis sold 477,572 shares of the business’s stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $357.30, for a total value of $170,636,475.60. Following the completion of the transaction, the director now owns 855,394 shares of the company’s stock, valued at $305,632,276.20. The trade was a 35.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Vaibhav Taneja sold 1,000 shares of the stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $350.00, for a total value of $350,000.00. Following the sale, the chief financial officer now directly owns 1,950 shares in the company, valued at $682,500. This trade represents a 33.90% decrease in their position. The disclosure for this sale can be found here. Insiders sold 833,509 shares of company stock worth $278,648,925 over the last three months. 20.70% of the stock is owned by corporate insiders.

Tesla Stock Performance

Shares of NASDAQ:TSLA opened at $340.47 on Wednesday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.54 and a current ratio of 2.00. The firm has a market cap of $1.10 trillion, a PE ratio of 187.07, a price-to-earnings-growth ratio of 13.04 and a beta of 2.47. The firm’s 50 day simple moving average is $309.87 and its 200-day simple moving average is $331.48. Tesla, Inc. has a one year low of $182.00 and a one year high of $488.54.

Tesla (NASDAQ:TSLA) last issued its 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 net margin of 6.66% and a return on equity of 9.02%. The firm had revenue of $19.34 billion for the quarter, compared to the consensus estimate of $22.93 billion. During the same period last year, the firm earned $0.45 earnings per share. As a group, equities analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have commented on TSLA. BNP Paribas set a $137.00 price target on shares of Tesla and gave the stock an “underperform” rating in a research note on Wednesday, April 16th. TD Cowen raised Tesla from a “hold” rating to a “buy” rating and increased their price target for the company from $180.00 to $388.00 in a research note on Friday, March 7th. Oppenheimer reaffirmed a “mixed” rating on shares of Tesla in a research note on Tuesday, March 18th. Baird R W cut Tesla from a “strong-buy” rating to a “hold” rating in a report on Monday, June 9th. Finally, Barclays cut their target price on shares of Tesla from $325.00 to $275.00 and set an “equal weight” rating for the company in a report on Monday, April 21st. Ten investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Tesla presently has an average rating of “Hold” and an average price target of $294.58.

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.