Beacon Bridge Wealth Partners LLC Decreases Position in Tesla, Inc. (NASDAQ:TSLA)

Key Points

• Beacon Bridge Wealth Partners LLC has reduced its stake in Tesla, Inc. by 52.1% during Q1, selling 2,136 shares and retaining 1,963 shares valued at approximately $509,000.
• Significant insider selling occurred, with Director Ira Matthew Ehrenpreis selling 477,572 shares for around $170.6 million, and Robyn M. Denholm selling 112,395 shares for about $30.8 million.
• Analysts have mixed views on Tesla's stock, with a consensus rating of "Hold" and a target price of $302.75, as several institutions adjusted their price targets downward.

Beacon Bridge Wealth Partners LLC cut its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 52.1% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 1,963 shares of the electric vehicle producer's stock after selling 2,136 shares during the period. Beacon Bridge Wealth Partners LLC's holdings in Tesla were worth $509,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Susquehanna Fundamental Investments LLC purchased a new position in shares of Tesla during the fourth quarter valued at approximately $56,600,000. Means Investment CO. Inc. raised its position 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 worth $5,984,000 after acquiring an additional 6,323 shares during the period. Focus Financial Network Inc. raised its position 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 worth $5,823,000 after acquiring an additional 670 shares during the period. IFM Investors Pty Ltd raised its position in Tesla by 8.5% in the first quarter. IFM Investors Pty Ltd now owns 586,460 shares of the electric vehicle producer's stock worth $153,436,000 after acquiring an additional 46,087 shares during the period. Finally, Harvard Management Co. Inc. bought a new position in Tesla in the fourth quarter worth approximately $8,158,000. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Tesla

In other news, Director Ira Matthew Ehrenpreis sold 477,572 shares of the stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $357.30, for a total value of $170,636,475.60. Following the sale, the director owned 855,394 shares of the company's stock, valued at approximately $305,632,276.20. This represents a 35.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Robyn M. Denholm sold 112,395 shares of the stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $274.12, for a total transaction of $30,809,717.40. Following the completion of the sale, the director directly owned 85,000 shares in the company, valued at approximately $23,300,200. This represents a 56.94% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 835,509 shares of company stock valued at $279,420,485 over the last ninety days. Corporate insiders own 20.70% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on TSLA shares. Truist Financial set a $280.00 price target on shares of Tesla in a research report on Tuesday, April 22nd. Barclays decreased their price target on shares of Tesla from $325.00 to $275.00 and set an "equal weight" rating on the stock in a research report on Monday, April 21st. Glj Research reiterated a "sell" rating on shares of Tesla in a research report on Thursday. JPMorgan Chase & Co. reduced their price objective on shares of Tesla from $120.00 to $115.00 and set an "underweight" rating for the company in a research note on Wednesday, April 23rd. Finally, BNP Paribas set a $137.00 price objective on shares of Tesla and gave the stock an "underperform" rating in a research note on Wednesday, April 16th. Ten analysts have rated the stock with a sell rating, fourteen have given a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $302.75.

Tesla Price Performance

TSLA stock opened at $316.06 on Monday. Tesla, Inc. has a 52 week low of $182.00 and a 52 week high of $488.54. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07. The company has a fifty day simple moving average of $324.70 and a two-hundred day simple moving average of $313.53. The firm has a market capitalization of $1.02 trillion, a P/E ratio of 182.69, a price-to-earnings-growth ratio of 9.93 and a beta of 2.39.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The electric vehicle producer reported $0.40 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.03). Tesla had a net margin of 6.54% and a return on equity of 7.98%. The business had revenue of $22.50 billion for the quarter, compared to the consensus estimate of $23.18 billion. During the same quarter last year, the business earned $0.52 EPS. Tesla's revenue for the quarter was down 11.8% compared to the same quarter last year. Analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal 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.

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