Affiance Financial LLC Sells 756 Shares of Tesla, Inc. (NASDAQ:TSLA)

Affiance Financial LLC reduced its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 26.2% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,128 shares of the electric vehicle producer's stock after selling 756 shares during the quarter. Affiance Financial LLC's holdings in Tesla were worth $551,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently modified their holdings of the stock. Wealth Group Ltd. purchased a new stake in shares of Tesla during the 4th quarter valued at about $275,000. Comprehensive Financial Planning Inc. PA purchased a new stake in Tesla in the fourth quarter worth approximately $1,361,000. Tallon Kerry Patrick bought a new stake in Tesla in the 4th quarter worth approximately $374,000. Eagle Capital Management LLC purchased a new stake in Tesla during the 4th quarter valued at $331,000. Finally, Brighton Jones LLC lifted its holdings in shares of Tesla by 11.8% during the 4th quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer's stock valued at $35,509,000 after buying an additional 9,293 shares during the period. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Trading Down 14.3%

Shares of TSLA traded down $47.37 during midday trading on Thursday, hitting $284.68. The stock had a trading volume of 277,571,779 shares, compared to its average volume of 99,097,566. The stock's 50 day moving average is $291.12 and its 200 day moving average is $334.34. The firm has a market cap of $916.94 billion, a PE ratio of 139.55, a price-to-earnings-growth ratio of 5.86 and a beta of 2.47. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. Tesla, Inc. has a 1 year low of $167.41 and a 1 year high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last released its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS for the quarter, missing analysts' consensus estimates of $0.53 by ($0.26). Tesla had a net margin of 7.26% and a return on equity of 10.31%. The business had revenue of $19.34 billion for the quarter, compared to the consensus estimate of $22.93 billion. During the same period in the prior year, the company posted $0.45 EPS. As a group, analysts forecast that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently commented on TSLA shares. JPMorgan Chase & Co. reduced their price objective on Tesla from $120.00 to $115.00 and set an "underweight" rating for the company in a research report on Wednesday, April 23rd. UBS Group cut their price target on Tesla from $225.00 to $190.00 and set a "sell" rating for the company in a research note on Thursday, April 10th. BNP Paribas set a $137.00 price objective on shares of Tesla and gave the stock an "underperform" rating in a research note on Wednesday, April 16th. Wells Fargo & Company cut their target price on shares of Tesla from $135.00 to $130.00 and set an "underweight" rating for the company in a research report on Friday, March 14th. Finally, Royal Bank of Canada decreased their price target on shares of Tesla from $314.00 to $307.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 23rd. Ten equities research analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Tesla has a consensus rating of "Hold" and a consensus price target of $293.97.

Insiders Place Their Bets

In related news, Director Joseph Gebbia acquired 4,000 shares of the stock in a transaction on Thursday, April 24th. The stock was bought at an average cost of $256.31 per share, with a total value of $1,025,240.00. Following the transaction, the director now directly owns 4,111 shares in the company, valued at approximately $1,053,690.41. This represents a 3,603.60% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Vaibhav Taneja sold 1,000 shares of Tesla stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $350.00, for a total transaction of $350,000.00. Following the sale, the chief financial officer now directly owns 1,950 shares of the company's stock, valued at $682,500. This represents a 33.90% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 870,721 shares of company stock worth $286,248,728 over the last quarter. 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.