Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Arrow Financial Corp

Arrow Financial Corp cut its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 47.9% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,501 shares of the electric vehicle producer's stock after selling 4,144 shares during the period. Arrow Financial Corp's holdings in Tesla were worth $1,166,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of TSLA. Norges Bank purchased a new position in shares of Tesla in the 4th quarter valued at $14,420,248,000. FMR LLC grew its stake in Tesla by 40.1% during 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 during the last quarter. GAMMA Investing LLC grew its stake in Tesla by 27,378.6% during the 1st quarter. GAMMA Investing LLC now owns 9,812,316 shares of the electric vehicle producer's stock worth $2,542,960,000 after buying an additional 9,776,607 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in Tesla by 4,963.0% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 5,834,707 shares of the electric vehicle producer's stock worth $2,356,288,000 after buying an additional 5,719,466 shares during the last quarter. Finally, Northern Trust Corp grew its stake in Tesla by 21.6% during the 4th quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer's stock worth $11,541,592,000 after buying an additional 5,075,418 shares during the last quarter. 66.20% of the stock is owned by institutional investors.

Insider Transactions at Tesla

In related news, Director Kimbal Musk sold 91,588 shares of Tesla stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $357.39, for a total value of $32,732,635.32. Following the completion of the sale, the director directly owned 1,463,220 shares in the company, valued at approximately $522,940,195.80. This trade represents a 5.89% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Vaibhav Taneja sold 6,000 shares of the business's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $341.02, for a total value of $2,046,120.00. Following the transaction, the chief financial officer owned 1,950 shares of the company's stock, valued at approximately $664,989. This trade represents a 75.47% 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. Corporate insiders own 20.70% of the company's stock.

Tesla Price Performance

Shares of Tesla stock traded down $1.16 on Monday, reaching $328.49. The stock had a trading volume of 75,292,991 shares, compared to its average volume of 98,837,315. The company has a current ratio of 2.00, a quick ratio of 1.54 and a debt-to-equity ratio of 0.07. The business's 50 day moving average is $326.27 and its two-hundred day moving average is $316.26. The company has a market cap of $1.06 trillion, a P/E ratio of 178.19, a price-to-earnings-growth ratio of 12.56 and a beta of 2.39. Tesla, Inc. has a 1 year low of $182.00 and a 1 year high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share 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 the consensus estimate of $22.93 billion. Tesla had a net margin of 6.66% and a return on equity of 9.02%. During the same quarter last year, the firm earned $0.45 EPS. As a group, research analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on TSLA shares. Stifel Nicolaus set a $450.00 target price on Tesla and gave the stock a "buy" rating in a research note on Thursday, April 24th. HSBC reiterated a "reduce" rating and set a $120.00 price target on shares of Tesla in a research note on Thursday, July 3rd. Bank of America boosted their price target on Tesla from $305.00 to $341.00 and gave the company a "neutral" rating in a research note on Monday. Wedbush reissued an "outperform" rating and issued a $500.00 price objective on shares of Tesla in a report on Tuesday, July 8th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on Tesla from $420.00 to $345.00 and set a "buy" rating for the company in a report on Friday, March 28th. Ten investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $298.97.

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.