Nisa Investment Advisors LLC Sells 4,213 Shares of Tesla, Inc. (NASDAQ:TSLA)

Nisa Investment Advisors LLC lessened its stake in Tesla, Inc. (NASDAQ:TSLA) by 0.7% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 585,969 shares of the electric vehicle producer’s stock after selling 4,213 shares during the quarter. Tesla makes up about 0.8% of Nisa Investment Advisors LLC’s holdings, making the stock its 14th largest position. Nisa Investment Advisors LLC’s holdings in Tesla were worth $151,860,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Norges Bank purchased a new stake in Tesla in the fourth quarter worth $14,420,248,000. FMR LLC increased its position in Tesla by 40.1% in the fourth quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer’s stock worth $13,997,660,000 after buying an additional 9,920,325 shares during the last quarter. GAMMA Investing LLC increased its position in Tesla by 27,378.6% in the first quarter. GAMMA Investing LLC now owns 9,812,316 shares of the electric vehicle producer’s stock worth $2,542,960,000 after buying an additional 9,776,607 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of Tesla by 4,963.0% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,834,707 shares of the electric vehicle producer’s stock valued at $2,356,288,000 after purchasing an additional 5,719,466 shares in the last quarter. Finally, Northern Trust Corp grew its position in shares of Tesla by 21.6% in the fourth 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 in the last quarter. 66.20% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Tesla news, Director Kimbal Musk sold 91,588 shares of the business’s stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $357.39, for a total value of $32,732,635.32. Following the sale, the director owned 1,463,220 shares of the company’s stock, valued at $522,940,195.80. The trade was a 5.89% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Vaibhav Taneja sold 2,564 shares of the stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $285.71, for a total transaction of $732,560.44. Following the sale, the chief financial officer directly owned 5,924 shares in the company, valued at approximately $1,692,546.04. This represents a 30.21% decrease in their position. The disclosure for this sale can be found here. Insiders sold 829,509 shares of company stock valued at $277,648,925 in the last three months. Company insiders own 20.70% of the company’s stock.

Tesla Stock Up 0.2%

Shares of NASDAQ:TSLA opened at $298.54 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. Tesla, Inc. has a 1-year low of $182.00 and a 1-year high of $488.54. The company’s fifty day moving average is $321.21 and its two-hundred day moving average is $323.29. The stock has a market capitalization of $961.59 billion, a price-to-earnings ratio of 163.62, a price-to-earnings-growth ratio of 8.57 and a beta of 2.39.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.26). The business had revenue of $19.34 billion during the quarter, compared to analyst estimates of $22.93 billion. Tesla had a return on equity of 9.02% and a net margin of 6.66%. During the same period in the prior year, the firm earned $0.45 EPS. Equities analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on TSLA. Robert W. Baird reiterated a “neutral” rating and issued a $320.00 price target on shares of Tesla in a research report on Monday, June 9th. Morgan Stanley reiterated an “overweight” rating and issued a $410.00 price target on shares of Tesla in a report on Friday, June 6th. William Blair downgraded Tesla from an “outperform” rating to a “market perform” rating in a report on Monday. Cantor Fitzgerald cut their price target on Tesla from $425.00 to $355.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 23rd. Finally, Baird R W downgraded Tesla from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 9th. Ten research analysts have rated the stock with a sell rating, fourteen have given a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $301.13.

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.