Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Acorn Financial Advisory Services Inc. ADV

Acorn Financial Advisory Services Inc. ADV trimmed its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 12.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,061 shares of the electric vehicle producer's stock after selling 977 shares during the quarter. Acorn Financial Advisory Services Inc. ADV's holdings in Tesla were worth $1,830,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Eagle Capital Management LLC acquired a new position in Tesla during the fourth quarter valued at $331,000. Brighton Jones LLC lifted its holdings in Tesla by 11.8% in the fourth quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer's stock valued at $35,509,000 after acquiring an additional 9,293 shares during the period. Revolve Wealth Partners LLC boosted its position in Tesla by 21.2% in the 4th quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer's stock worth $2,147,000 after purchasing an additional 931 shares in the last quarter. Mascagni Wealth Management Inc. acquired a new stake in shares of Tesla during the 4th quarter worth approximately $346,000. Finally, Highview Capital Management LLC DE acquired a new position in shares of Tesla in the 4th quarter valued at $2,367,000. 66.20% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CFO Vaibhav Taneja sold 6,000 shares of the stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $341.02, for a total transaction of $2,046,120.00. Following the sale, the chief financial officer owned 1,950 shares of the company's stock, valued at approximately $664,989. This represents a 75.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robyn M. Denholm sold 112,395 shares of the stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $274.12, for a total transaction of $30,809,717.40. Following the sale, the director owned 85,000 shares in the company, valued at approximately $23,300,200. This trade represents a 56.94% 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 worth $278,648,925 over the last 90 days. 20.70% of the stock is owned by insiders.

Analysts Set New Price Targets

TSLA has been the topic of several analyst reports. TD Cowen upgraded shares of Tesla from a "hold" rating to a "buy" rating and raised their price target for the company from $180.00 to $388.00 in a research report on Friday, March 7th. Glj Research restated a "sell" rating and set a $19.05 target price (down from $24.86) on shares of Tesla in a research report on Monday, April 21st. Baird R W cut Tesla from a "strong-buy" rating to a "hold" rating in a report on Monday, June 9th. Cantor Fitzgerald lowered their price target on Tesla from $425.00 to $355.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 23rd. Finally, Raymond James Financial cut Tesla to an "outperform" rating in a research report on Tuesday, April 22nd. Ten research analysts have rated the stock with a sell rating, thirteen have given a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $301.24.

Tesla Trading Down 0.7%

Shares of NASDAQ:TSLA traded down $2.09 during midday trading on Friday, reaching $313.56. 58,042,302 shares of the company's stock were exchanged, compared to its average volume of 100,923,382. The firm's 50 day simple moving average is $320.93 and its two-hundred day simple moving average is $325.92. Tesla, Inc. has a fifty-two week low of $182.00 and a fifty-two week high of $488.54. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.00 and a quick ratio of 1.54. The stock has a market cap of $1.01 trillion, a price-to-earnings ratio of 170.46, a P/E/G ratio of 9.17 and a beta of 2.39.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) 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 company had revenue of $19.34 billion during the quarter, compared to analysts' expectations of $22.93 billion. During the same period last year, the firm posted $0.45 earnings per share. As a group, sell-side analysts forecast that Tesla, Inc. will post 2.56 EPS 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.