Perigon Wealth Management LLC Sells 3,871 Shares of Tesla, Inc. (NASDAQ:TSLA)

Perigon Wealth Management LLC decreased its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 4.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 81,628 shares of the electric vehicle producer’s stock after selling 3,871 shares during the quarter. Perigon Wealth Management LLC’s holdings in Tesla were worth $21,155,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Kooman & Associates boosted its stake in Tesla by 2.4% during the 4th quarter. Kooman & Associates now owns 1,188 shares of the electric vehicle producer’s stock valued at $480,000 after purchasing an additional 28 shares during the period. Rinkey Investments lifted its position in shares of Tesla by 3.5% in the 4th quarter. Rinkey Investments now owns 860 shares of the electric vehicle producer’s stock worth $347,000 after acquiring an additional 29 shares during the period. New England Capital Financial Advisors LLC lifted its position in shares of Tesla by 2.6% in the 4th quarter. New England Capital Financial Advisors LLC now owns 1,195 shares of the electric vehicle producer’s stock worth $483,000 after acquiring an additional 30 shares during the period. Ndwm LLC lifted its position in shares of Tesla by 0.8% in the 4th quarter. Ndwm LLC now owns 3,563 shares of the electric vehicle producer’s stock worth $1,439,000 after acquiring an additional 30 shares during the period. Finally, Bell Investment Advisors Inc lifted its position in shares of Tesla by 1.3% in the 4th quarter. Bell Investment Advisors Inc now owns 2,339 shares of the electric vehicle producer’s stock worth $945,000 after acquiring an additional 30 shares during the period. Institutional investors own 66.20% of the company’s stock.

Tesla Stock Down 3.8%

NASDAQ TSLA opened at $327.55 on Thursday. The stock has a fifty day moving average of $311.59 and a 200-day moving average of $331.45. The stock has a market capitalization of $1.06 trillion, a P/E ratio of 179.97, a price-to-earnings-growth ratio of 12.73 and a beta of 2.47. Tesla, Inc. has a 52 week low of $182.00 and a 52 week high of $488.54. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.54 and a current ratio of 2.00.

Tesla (NASDAQ:TSLA) last announced 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). Tesla had a return on equity of 9.02% and a net margin of 6.66%. The company had revenue of $19.34 billion for the quarter, compared to analyst estimates of $22.93 billion. During the same period last year, the firm earned $0.45 earnings per share. On average, equities research analysts forecast that Tesla, Inc. will post 2.56 EPS for the current year.

Analyst Upgrades and Downgrades

TSLA has been the subject of a number of research reports. Cantor Fitzgerald reduced their price objective on Tesla from $425.00 to $355.00 and set an “overweight” rating for the company in a research report on Wednesday, April 23rd. Truist Financial set a $280.00 price objective on Tesla in a research report on Tuesday, April 22nd. Bank of America reduced their price objective on Tesla from $490.00 to $380.00 and set a “neutral” rating for the company in a research report on Tuesday, March 4th. Wells Fargo & Company cut their target price on Tesla from $135.00 to $130.00 and set an “underweight” rating for the company in a research report on Friday, March 14th. Finally, Oppenheimer restated a “mixed” rating on shares of Tesla in a research report on Tuesday, March 18th. Ten analysts have rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $294.58.

Insider Buying and Selling

In related news, CFO Vaibhav Taneja sold 1,000 shares of Tesla stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $350.00, for a total transaction of $350,000.00. Following the completion of the sale, the chief financial officer now directly owns 1,950 shares of the company’s stock, valued at $682,500. The trade was a 33.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Xiaotong Zhu sold 15,000 shares of Tesla stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $323.81, for a total value 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 trade represents a 18.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 833,509 shares of company stock valued at $278,648,925 over the last three months. Company insiders own 20.70% of the company’s stock.

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.