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

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

Several other hedge funds have also bought and sold shares of TSLA. Norges Bank purchased a new position in shares of Tesla during the 4th quarter valued at approximately $14,420,248,000. FMR LLC lifted its position in shares of Tesla by 40.1% during the 4th quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer's stock valued at $13,997,660,000 after buying an additional 9,920,325 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Tesla by 27,378.6% during the 1st quarter. GAMMA Investing LLC now owns 9,812,316 shares of the electric vehicle producer's stock valued at $2,542,960,000 after buying an additional 9,776,607 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Tesla by 4,963.0% during the 4th 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 buying an additional 5,719,466 shares in the last quarter. Finally, Northern Trust Corp lifted its position in shares of Tesla by 21.6% during the 4th quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer's stock valued at $11,541,592,000 after buying an additional 5,075,418 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on TSLA. Deutsche Bank Aktiengesellschaft decreased their target price on Tesla from $420.00 to $345.00 and set a "buy" rating on the stock in a research report on Friday, March 28th. Glj Research reissued a "sell" rating and issued a $19.05 price objective (down from $24.86) on shares of Tesla in a research note on Monday, April 21st. UBS Group set a $290.00 price objective on Tesla in a research note on Monday, June 30th. Benchmark reissued a "buy" rating and issued a $475.00 price objective (up from $350.00) on shares of Tesla in a research note on Thursday, June 26th. Finally, BNP Paribas set a $137.00 price objective on Tesla and gave the company an "underperform" rating in a research note on Wednesday, April 16th. Ten research analysts have rated the stock with a sell rating, thirteen have given a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $301.60.

Tesla Stock Down 0.7%

Shares of NASDAQ TSLA traded down $2.09 during midday trading on Friday, hitting $313.56. 58,042,302 shares of the company's stock were exchanged, compared to its average volume of 100,923,382. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.00 and a quick ratio of 1.54. Tesla, Inc. has a twelve month low of $182.00 and a twelve month high of $488.54. The company has a market cap of $1.01 trillion, a PE ratio of 172.29, a P/E/G ratio of 9.17 and a beta of 2.39. The firm's fifty day simple moving average is $320.93 and its 200-day simple moving average is $325.13.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share 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 analyst estimates of $22.93 billion. During the same period last year, the business posted $0.45 EPS. Research analysts predict that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Activity at Tesla

In other Tesla news, Director Ira Matthew Ehrenpreis sold 477,572 shares of Tesla stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $357.30, for a total transaction 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. The trade was a 35.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Xiaotong Zhu sold 15,000 shares of Tesla stock in a transaction that occurred 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 transaction, the senior vice president directly owned 67,600 shares in the company, valued at approximately $21,889,556. This trade represents a 18.16% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 833,509 shares of company stock valued at $278,648,925 over the last 90 days. 20.70% of the stock is owned by insiders.

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.