Argonautica Private Wealth Management Inc. Reduces Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Argonautica Private Wealth Management Inc. lowered its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 18.9% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,622 shares of the electric vehicle producer's stock after selling 3,397 shares during the period. Tesla comprises 1.3% of Argonautica Private Wealth Management Inc.'s holdings, making the stock its 20th largest position. Argonautica Private Wealth Management Inc.'s holdings in Tesla were worth $3,789,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in TSLA. Eagle Capital Management LLC acquired a new position in Tesla during the fourth quarter worth $331,000. Brighton Jones LLC boosted its position in shares of Tesla by 11.8% in the fourth quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer's stock valued at $35,509,000 after acquiring an additional 9,293 shares during the period. Revolve Wealth Partners LLC boosted its position in shares of Tesla by 21.2% in the fourth quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer's stock valued at $2,147,000 after acquiring an additional 931 shares during the period. Mascagni Wealth Management Inc. bought a new stake in shares of Tesla in the fourth quarter valued at about $346,000. Finally, Highview Capital Management LLC DE bought a new stake in shares of Tesla in the fourth quarter valued at about $2,367,000. Institutional investors own 66.20% of the company's stock.

Insider Activity at Tesla

In related news, Director Kimbal Musk sold 91,588 shares of the business's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $357.39, for a total transaction of $32,732,635.32. Following the completion of the transaction, the director owned 1,463,220 shares in the company, valued at $522,940,195.80. The trade was a 5.89% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of the company's stock in a transaction on 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 completion of the sale, the director owned 855,394 shares of the company's stock, valued at $305,632,276.20. This represents a 35.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 835,509 shares of company stock worth $279,420,485 over the last quarter. 20.70% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

TSLA has been the subject of several recent analyst reports. Canaccord Genuity Group upped their price objective on shares of Tesla from $303.00 to $333.00 and gave the stock a "buy" rating in a research report on Thursday. Baird R W downgraded Tesla from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 9th. UBS Group set a $290.00 target price on Tesla in a research note on Monday, June 30th. Needham & Company LLC reissued a "hold" rating on shares of Tesla in a research note on Thursday. Finally, Royal Bank Of Canada lowered their price objective on Tesla from $314.00 to $307.00 and set an "outperform" rating for the company in a research note on Wednesday, April 23rd. Ten analysts have rated the stock with a sell rating, fourteen have given a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $302.75.

Tesla Price Performance

TSLA traded up $10.76 on Friday, hitting $316.06. 147,437,834 shares of the company's stock traded hands, compared to its average volume of 90,285,424. The company's 50 day simple moving average is $324.70 and its 200-day simple moving average is $314.09. The firm has a market cap of $1.02 trillion, a price-to-earnings ratio of 182.69, a P/E/G ratio of 12.00 and a beta of 2.39. Tesla, Inc. has a one year low of $182.00 and a one year high of $488.54. The company has a current ratio of 2.04, a quick ratio of 1.54 and a debt-to-equity ratio of 0.07.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 EPS for the quarter, missing analysts' consensus estimates of $0.43 by ($0.03). Tesla had a return on equity of 7.98% and a net margin of 6.54%. The company had revenue of $22.50 billion during the quarter, compared to analysts' expectations of $23.18 billion. During the same quarter last year, the firm posted $0.52 EPS. Tesla's revenue for the quarter was down 11.8% compared to the same quarter last year. As a group, research analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current year.

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.