Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Altman Advisors Inc.

Altman Advisors Inc. lowered its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 12.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 9,114 shares of the electric vehicle producer's stock after selling 1,275 shares during the period. Tesla accounts for 1.1% of Altman Advisors Inc.'s investment portfolio, making the stock its 22nd largest position. Altman Advisors Inc.'s holdings in Tesla were worth $2,572,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. lifted its position 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 buying an additional 3,571,793 shares during the last quarter. Geode Capital Management LLC lifted its holdings 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 worth $24,566,217,000 after acquiring an additional 1,655,203 shares during the last quarter. Norges Bank purchased a new position in shares of Tesla during the 4th quarter worth approximately $14,420,248,000. FMR LLC increased its holdings in Tesla by 40.1% in 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 purchasing an additional 9,920,325 shares during the last quarter. Finally, Northern Trust Corp increased its holdings 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 purchasing an additional 5,075,418 shares during the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

TSLA has been the subject of several research analyst reports. Morgan Stanley restated an "overweight" rating and set a $410.00 price target on shares of Tesla in a research report on Friday, June 6th. UBS Group set a $290.00 target price on Tesla in a research note on Monday, June 30th. Guggenheim reaffirmed a "sell" rating and issued a $175.00 target price on shares of Tesla in a research report on Tuesday, July 8th. Raymond James Financial lowered shares of Tesla to an "outperform" rating in a research note on Tuesday, April 22nd. Finally, Needham & Company LLC reissued a "hold" rating on shares of Tesla in a research note on Wednesday, April 23rd. Ten investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $300.19.

Tesla Stock Performance

Shares of TSLA traded up $10.89 during midday trading on Wednesday, reaching $321.67. 96,688,793 shares of the stock were exchanged, compared to its average volume of 99,116,733. Tesla, Inc. has a twelve month low of $182.00 and a twelve month 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 company has a market capitalization of $1.04 trillion, a price-to-earnings ratio of 176.74, a PEG ratio of 9.26 and a beta of 2.39. The business's 50-day moving average price is $324.04 and its 200 day moving average price is $318.47.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings results 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 firm 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 period last year, the firm earned $0.45 EPS. On average, sell-side analysts expect that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insiders Place Their Bets

In other Tesla news, Director Kimbal Musk sold 91,588 shares of the firm's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $357.39, for a total transaction of $32,732,635.32. Following the transaction, the director directly owned 1,463,220 shares of the company's stock, valued at approximately $522,940,195.80. This trade represents a 5.89% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of the 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 sale, the director owned 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. Over the last ninety days, insiders sold 835,509 shares of company stock worth $279,420,485. Corporate 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.