Gradient Capital Advisors LLC Has $4.97 Million Holdings in Tesla, Inc. (NASDAQ:TSLA)

Gradient Capital Advisors LLC reduced its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 20.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 19,192 shares of the electric vehicle producer’s stock after selling 4,836 shares during the period. Tesla comprises 1.6% of Gradient Capital Advisors LLC’s investment portfolio, making the stock its 18th largest holding. Gradient Capital Advisors LLC’s holdings in Tesla were worth $4,974,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cherry Tree Wealth Management LLC boosted its holdings in Tesla by 86.3% in the first quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer’s stock valued at $25,000 after acquiring an additional 44 shares during the last quarter. First PREMIER Bank lifted its stake in Tesla by 79.2% during the 1st quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer’s stock valued at $25,000 after acquiring an additional 42 shares in the last quarter. Newton One Investments LLC lifted its stake in Tesla by 250.0% during the 1st 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. Arcadia Investment Management Corp MI bought a new position in Tesla during the 1st quarter valued at $27,000. Finally, True Wealth Design LLC increased its position in shares of 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 last quarter. 66.20% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Cantor Fitzgerald decreased their price objective on Tesla from $425.00 to $355.00 and set an “overweight” rating for the company in a report on Wednesday, April 23rd. Argus reiterated a “hold” rating on shares of Tesla in a research report on Monday, June 9th. Raymond James Financial cut Tesla to an “outperform” rating in a research note on Tuesday, April 22nd. Royal Bank Of Canada decreased their price target on Tesla from $314.00 to $307.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 23rd. Finally, Baird R W cut 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 given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $300.19.

Tesla Stock Performance

NASDAQ:TSLA opened at $328.33 on Friday. The company has a current ratio of 2.00, a quick ratio of 1.54 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a 12-month low of $182.00 and a 12-month high of $488.54. The stock has a 50-day moving average price of $325.64 and a 200 day moving average price of $317.81. The stock has a market capitalization of $1.06 trillion, a P/E ratio of 179.33, a P/E/G ratio of 9.80 and a beta of 2.39.

Tesla (NASDAQ:TSLA) last released its earnings results 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). Tesla had a return on equity of 9.02% and a net margin of 6.66%. The business had revenue of $19.34 billion for the quarter, compared to analysts’ expectations of $22.93 billion. During the same quarter in the prior year, the business posted $0.45 EPS. Equities research analysts forecast that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insiders Place Their Bets

In other Tesla news, SVP Xiaotong Zhu sold 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $323.81, for a total transaction of $4,857,150.00. Following the completion of the transaction, the senior vice president owned 67,600 shares in the company, valued at $21,889,556. This trade represents a 18.16% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of the firm’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 transaction, the director owned 855,394 shares of the company’s stock, valued at $305,632,276.20. This represents a 35.83% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 835,509 shares of company stock worth $279,420,485. Company insiders own 20.70% of the company’s stock.

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.