Alpha Cubed Investments LLC Has $12.80 Million Position in Tesla, Inc. (NASDAQ:TSLA)

Alpha Cubed Investments LLC lessened its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 31.0% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 49,404 shares of the electric vehicle producer's stock after selling 22,246 shares during the quarter. Alpha Cubed Investments LLC's holdings in Tesla were worth $12,804,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Tesla by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 243,193,181 shares of the electric vehicle producer's stock worth $98,211,134,000 after acquiring an additional 3,571,793 shares during the period. Geode Capital Management LLC boosted its holdings in Tesla by 2.8% in the 4th quarter. Geode Capital Management LLC now owns 61,011,604 shares of the electric vehicle producer's stock worth $24,566,217,000 after acquiring an additional 1,655,203 shares during the period. Norges Bank purchased a new position in Tesla in the 4th quarter worth approximately $14,420,248,000. FMR LLC boosted its stake 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 during the last quarter. Finally, Northern Trust Corp boosted its stake 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 during the last quarter. Institutional investors and hedge funds own 66.20% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Glj Research reiterated a "sell" rating and set a $19.05 target price (down from $24.86) on shares of Tesla in a research note on Monday, April 21st. Baird R W cut Tesla from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 9th. Cantor Fitzgerald reduced their price objective on Tesla from $425.00 to $355.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 23rd. Oppenheimer restated a "mixed" rating on shares of Tesla in a research note on Tuesday, March 18th. Finally, Robert W. Baird restated a "neutral" rating and set a $320.00 price objective on shares of Tesla in a research note on Monday, June 9th. Ten analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $301.13.

Tesla Trading Up 1.3%

NASDAQ TSLA traded up $3.87 on Tuesday, hitting $297.81. 102,672,162 shares of the company were exchanged, compared to its average volume of 101,051,219. The company's 50 day moving average price is $321.10 and its 200-day moving average price is $323.46. 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 firm has a market capitalization of $959.23 billion, a P/E ratio of 163.63, a price-to-earnings-growth ratio of 9.17 and a beta of 2.39. Tesla, Inc. has a twelve month low of $182.00 and a twelve month high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its quarterly earnings data 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). The company had revenue of $19.34 billion for the quarter, compared to analyst estimates of $22.93 billion. Tesla had a return on equity of 9.02% and a net margin of 6.66%. During the same quarter in the previous year, the firm posted $0.45 EPS. Analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Activity

In other Tesla news, Director Ira Matthew Ehrenpreis sold 477,572 shares of the firm's stock in a transaction dated 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 completion of the sale, the director directly owned 855,394 shares in the company, valued at approximately $305,632,276.20. This trade represents a 35.83% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Robyn M. Denholm sold 112,395 shares of the firm's stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $274.12, for a total value of $30,809,717.40. Following the sale, the director owned 85,000 shares of the company's stock, valued at $23,300,200. The trade was a 56.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 829,509 shares of company stock worth $277,648,925. 20.70% of the stock is owned by company insiders.

Tesla Company 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.