AssuredPartners Investment Advisors LLC Lowers Stake in Tesla, Inc. (NASDAQ:TSLA)

AssuredPartners Investment Advisors LLC cut its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 4.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 22,688 shares of the electric vehicle producer's stock after selling 1,101 shares during the quarter. Tesla makes up 1.1% of AssuredPartners Investment Advisors LLC's investment portfolio, making the stock its 16th largest position. AssuredPartners Investment Advisors LLC's holdings in Tesla were worth $5,880,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Susquehanna Fundamental Investments LLC purchased a new stake in Tesla in the fourth quarter valued at approximately $56,600,000. Means Investment CO. Inc. grew its holdings in Tesla by 37.7% in the first quarter. Means Investment CO. Inc. now owns 23,089 shares of the electric vehicle producer's stock valued at $5,984,000 after purchasing an additional 6,323 shares during the period. Focus Financial Network Inc. grew its holdings in Tesla by 3.1% in the first quarter. Focus Financial Network Inc. now owns 22,467 shares of the electric vehicle producer's stock valued at $5,823,000 after purchasing an additional 670 shares during the period. Strategic Family Wealth Counselors L.L.C. grew its holdings in Tesla by 133.7% in the fourth quarter. Strategic Family Wealth Counselors L.L.C. now owns 2,847 shares of the electric vehicle producer's stock valued at $1,150,000 after purchasing an additional 1,629 shares during the period. Finally, Harvard Management Co. Inc. purchased a new stake in Tesla in the fourth quarter valued at approximately $8,158,000. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on TSLA shares. Mizuho boosted their price objective on shares of Tesla from $325.00 to $390.00 and gave the stock an "outperform" rating in a research note on Friday, May 16th. TD Cowen upgraded shares of Tesla from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $180.00 to $388.00 in a research note on Friday, March 7th. Roth Mkm decreased their price objective on shares of Tesla from $450.00 to $395.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. The Goldman Sachs Group reiterated a "neutral" rating on shares of Tesla in a research note on Friday. Finally, Glj Research reiterated a "sell" rating and set a $19.05 price objective (down from $24.86) on shares of Tesla in a research note on Monday, April 21st. Ten investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Tesla currently has a consensus rating of "Hold" and an average price target of $294.58.

Tesla Stock Up 8.2%

Shares of NASDAQ:TSLA opened at $348.68 on Tuesday. The stock has a market capitalization of $1.12 trillion, a price-to-earnings ratio of 191.58, a price-to-earnings-growth ratio of 12.05 and a beta of 2.47. Tesla, Inc. has a 1-year low of $182.00 and a 1-year high of $488.54. The company's fifty day moving average is $308.14 and its two-hundred day moving average is $331.42. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.54 and a current ratio of 2.00.

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 the consensus estimate 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 prior year, the company posted $0.45 EPS. Equities analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Transactions at Tesla

In other news, CFO Vaibhav Taneja sold 4,000 shares of the company's stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the completion of the transaction, the chief financial officer now owns 26,950 shares in the company, valued at approximately $6,737,500. This represents a 12.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Xiaotong Zhu sold 15,000 shares of the company's stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $323.81, for a total transaction of $4,857,150.00. Following the transaction, the senior vice president now owns 67,600 shares of the company's stock, valued at $21,889,556. This represents a 18.16% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 833,509 shares of company stock worth $278,648,925. Insiders own 20.70% of the company's stock.

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.

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