Bellevue Asset Management LLC Lowers Position in Tesla, Inc. (NASDAQ:TSLA)

Bellevue Asset Management LLC trimmed its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 45.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,342 shares of the electric vehicle producer's stock after selling 1,096 shares during the quarter. Bellevue Asset Management LLC's holdings in Tesla were worth $348,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Wealth Group Ltd. purchased a new stake in Tesla in the 4th quarter worth approximately $275,000. Eagle Capital Management LLC bought a new position in shares of Tesla during the fourth quarter valued at approximately $331,000. Brighton Jones LLC lifted its stake in Tesla by 11.8% in the fourth quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer's stock worth $35,509,000 after acquiring an additional 9,293 shares during the period. Revolve Wealth Partners LLC boosted its holdings in 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 in the last quarter. Finally, Mascagni Wealth Management Inc. purchased a new position in Tesla during the 4th quarter valued at $346,000. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Robyn M. Denholm sold 112,395 shares of the stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $274.12, for a total transaction of $30,809,717.40. Following the transaction, the director directly owned 85,000 shares of the company's stock, valued at $23,300,200. This represents a 56.94% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of the firm'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 transaction, the director owned 855,394 shares in the company, valued at approximately $305,632,276.20. This trade represents a 35.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 833,509 shares of company stock worth $278,648,925 in the last 90 days. Insiders own 20.70% of the company's stock.

Analyst Ratings Changes

Several research firms have recently commented on TSLA. UBS Group set a $290.00 target price on shares of Tesla in a research report on Monday. Cfra Research lowered shares of Tesla from a "moderate buy" rating to a "hold" rating in a report on Tuesday, April 22nd. Wells Fargo & Company cut their price objective on Tesla from $135.00 to $130.00 and set an "underweight" rating on the stock in a research report on Friday, March 14th. Robert W. Baird reissued a "neutral" rating and issued a $320.00 target price on shares of Tesla in a research report on Monday, June 9th. Finally, JPMorgan Chase & Co. lowered their target price on Tesla from $120.00 to $115.00 and set an "underweight" rating for the company in a research note on Wednesday, April 23rd. Ten equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Tesla currently has a consensus rating of "Hold" and a consensus price target of $301.24.

Tesla Stock Performance

NASDAQ TSLA traded down $2.09 during trading hours on Friday, hitting $313.56. The company's stock had a trading volume of 58,042,302 shares, compared to its average volume of 101,137,163. Tesla, Inc. has a 12 month low of $182.00 and a 12 month high of $488.54. The company's 50 day simple moving average is $320.36 and its two-hundred day simple moving average is $327.07. 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 cap of $1.01 trillion, a P/E ratio of 172.29, a price-to-earnings-growth ratio of 9.17 and a beta of 2.39.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS for the quarter, missing analysts' consensus estimates of $0.53 by ($0.26). Tesla had a return on equity of 9.02% and a net margin of 6.66%. The company had revenue of $19.34 billion during the quarter, compared to the consensus estimate of $22.93 billion. During the same quarter in the prior year, the firm earned $0.45 earnings per share. As a group, sell-side analysts expect that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

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.