Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Alpha Wealth Funds LLC

Alpha Wealth Funds LLC lowered its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 62.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,186 shares of the electric vehicle producer's stock after selling 2,012 shares during the quarter. Tesla comprises approximately 0.3% of Alpha Wealth Funds LLC's holdings, making the stock its 29th largest holding. Alpha Wealth Funds LLC's holdings in Tesla were worth $307,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of TSLA. Vanguard Group Inc. increased its stake in Tesla by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 243,193,181 shares of the electric vehicle producer's stock valued at $98,211,134,000 after acquiring an additional 3,571,793 shares during the period. Geode Capital Management LLC grew its stake in shares of 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 valued at $24,566,217,000 after purchasing an additional 1,655,203 shares during the period. Norges Bank bought a new stake in shares of Tesla in the 4th quarter valued at approximately $14,420,248,000. FMR LLC raised its holdings in shares of Tesla by 40.1% in the 4th quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer's stock worth $13,997,660,000 after buying an additional 9,920,325 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in Tesla by 21.6% in 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. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Tesla Stock Down 14.3%

Shares of Tesla stock traded down $47.37 on Thursday, reaching $284.68. The stock had a trading volume of 286,093,850 shares, compared to its average volume of 99,144,964. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $916.94 billion, a P/E ratio of 139.55, a P/E/G ratio of 5.86 and a beta of 2.47. The company has a 50 day moving average price of $291.12 and a 200 day moving average price of $334.34. 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 announced its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.26). The company had revenue of $19.34 billion during the quarter, compared to analysts' expectations of $22.93 billion. Tesla had a net margin of 7.26% and a return on equity of 10.31%. During the same period in the previous year, the business earned $0.45 earnings per share. As a group, equities research analysts forecast that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Activity

In other news, CFO Vaibhav Taneja sold 1,000 shares of the stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $350.00, for a total value of $350,000.00. Following the transaction, the chief financial officer now directly owns 1,950 shares of the company's stock, valued at approximately $682,500. This represents a 33.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of Tesla stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $357.30, for a total value of $170,636,475.60. Following the sale, the director now directly owns 855,394 shares of the company's stock, valued at $305,632,276.20. This trade represents a 35.83% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 870,721 shares of company stock valued at $286,248,728 over the last ninety days. 20.70% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on TSLA shares. Stifel Nicolaus set a $450.00 target price on shares of Tesla and gave the stock a "buy" rating in a report on Thursday, April 24th. Cfra Research lowered shares of Tesla from a "moderate buy" rating to a "hold" rating in a report on Tuesday, April 22nd. Cowen raised Tesla from a "hold" rating to a "buy" rating in a report on Thursday, March 6th. The Goldman Sachs Group reaffirmed a "neutral" rating on shares of Tesla in a report on Tuesday, April 22nd. Finally, TD Cowen upgraded Tesla from a "hold" rating to a "buy" rating and increased their target price for the stock from $180.00 to $388.00 in a report on Friday, March 7th. Ten 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 issued a strong buy rating to the company. Based on data from MarketBeat.com, Tesla currently has an average rating of "Hold" and an average target price of $293.97.

About Tesla

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.