Baron Silver Stevens Financial Advisors LLC Cuts Holdings in Tesla, Inc. (NASDAQ:TSLA)

Baron Silver Stevens Financial Advisors LLC decreased its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 18.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,148 shares of the electric vehicle producer’s stock after selling 728 shares during the quarter. Baron Silver Stevens Financial Advisors LLC’s holdings in Tesla were worth $816,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Cherry Tree Wealth Management LLC increased its position in shares of Tesla by 86.3% during the first quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer’s stock worth $25,000 after purchasing an additional 44 shares in the last quarter. First PREMIER Bank increased its position in shares of Tesla by 79.2% during the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer’s stock worth $25,000 after purchasing an additional 42 shares in the last quarter. Newton One Investments LLC increased its position in shares of Tesla by 250.0% during the first quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer’s stock worth $27,000 after purchasing an additional 75 shares in the last quarter. Arcadia Investment Management Corp MI acquired a new stake in shares of Tesla during the first quarter worth about $27,000. Finally, True Wealth Design LLC increased its position in shares of Tesla by 79.5% during the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer’s stock worth $28,000 after purchasing an additional 31 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Tesla

In related news, CFO Vaibhav Taneja sold 2,000 shares of the stock in a transaction dated Tuesday, July 8th. The shares were sold at an average price of $300.00, for a total transaction of $600,000.00. Following the sale, the chief financial officer owned 5,924 shares in the company, valued at $1,777,200. This represents a 25.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kimbal Musk sold 91,588 shares of the firm’s stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $357.39, for a total transaction of $32,732,635.32. Following the completion of the sale, the director owned 1,463,220 shares in the company, valued at $522,940,195.80. The trade was a 5.89% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 835,509 shares of company stock worth $279,420,485 in the last ninety days. Insiders own 20.70% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on TSLA shares. Morgan Stanley reiterated an “overweight” rating and set a $410.00 target price on shares of Tesla in a research report on Friday, June 6th. Cfra Research lowered Tesla from a “moderate buy” rating to a “hold” rating in a report on Tuesday, April 22nd. The Goldman Sachs Group lowered their price target on Tesla from $315.00 to $285.00 and set a “neutral” rating on the stock in a report on Friday, July 11th. Roth Mkm lowered their price target on Tesla from $450.00 to $395.00 and set a “buy” rating on the stock in a report on Wednesday, April 23rd. Finally, Needham & Company LLC reissued a “hold” rating on shares of Tesla in a report on Thursday. Ten analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Tesla currently has an average rating of “Hold” and a consensus price target of $302.75.

Tesla Stock Performance

Shares of TSLA stock opened at $316.06 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.54 and a current ratio of 2.04. Tesla, Inc. has a one year low of $182.00 and a one year high of $488.54. The company’s 50-day simple moving average is $324.70 and its 200-day simple moving average is $314.65. The stock has a market capitalization of $1.02 trillion, a price-to-earnings ratio of 182.69, a PEG ratio of 11.59 and a beta of 2.39.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.03). The business had revenue of $22.50 billion for the quarter, compared to analyst estimates of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%. Tesla’s revenue was down 11.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.52 EPS. Equities 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.