Tesla, Inc. (NASDAQ:TSLA) is BNC Wealth Management LLC's 6th Largest Position

BNC Wealth Management LLC trimmed its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 8.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,424 shares of the electric vehicle producer's stock after selling 3,522 shares during the quarter. Tesla comprises approximately 3.5% of BNC Wealth Management LLC's portfolio, making the stock its 6th largest holding. BNC Wealth Management LLC's holdings in Tesla were worth $9,699,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. lifted its stake in Tesla by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 243,193,181 shares of the electric vehicle producer's stock worth $98,211,134,000 after purchasing an additional 3,571,793 shares in the last quarter. Geode Capital Management LLC lifted its stake in Tesla by 2.8% in the 4th quarter. Geode Capital Management LLC now owns 61,011,604 shares of the electric vehicle producer's stock worth $24,566,217,000 after purchasing an additional 1,655,203 shares in the last quarter. Norges Bank purchased a new position in Tesla in the 4th quarter worth approximately $14,420,248,000. FMR LLC lifted its stake in Tesla by 40.1% in the 4th quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer's stock worth $13,997,660,000 after purchasing an additional 9,920,325 shares in the last quarter. Finally, Northern Trust Corp raised its position in shares of Tesla by 21.6% during the 4th quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer's stock valued at $11,541,592,000 after buying an additional 5,075,418 shares during the period. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Tesla

In related news, Director Joseph Gebbia purchased 4,000 shares of Tesla stock in a transaction that occurred on Thursday, April 24th. The stock was purchased at an average cost of $256.31 per share, with a total value of $1,025,240.00. Following the completion of the transaction, the director now directly owns 4,111 shares in the company, valued at approximately $1,053,690.41. The trade was a 3,603.60% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of the business's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $357.30, for a total transaction of $170,636,475.60. Following the completion of the sale, the director now directly owns 855,394 shares of the company's stock, 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 sold a total of 818,509 shares of company stock valued at $273,791,775 over the last ninety days. Insiders own 20.70% of the company's stock.

Tesla Stock Up 1.9%

Shares of Tesla stock traded up $6.20 during trading on Friday, hitting $325.31. 128,417,075 shares of the stock were exchanged, compared to its average volume of 100,836,055. The stock has a market cap of $1.05 trillion, a price-to-earnings ratio of 159.47, a price-to-earnings-growth ratio of 5.86 and a beta of 2.47. The firm's 50-day moving average price is $299.39 and its 200 day moving average price is $332.88. Tesla, Inc. has a 12-month low of $177.00 and a 12-month high of $488.54. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (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 analysts' expectations of $22.93 billion. Tesla had a return on equity of 10.31% and a net margin of 7.26%. During the same period last year, the firm posted $0.45 earnings per share. As a group, analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Wells Fargo & Company reduced their price target on shares of Tesla from $135.00 to $130.00 and set an "underweight" rating on the stock in a research report on Friday, March 14th. Cfra Research lowered shares of Tesla from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, April 22nd. BNP Paribas set a $137.00 price target on shares of Tesla and gave the company an "underperform" rating in a research report on Wednesday, April 16th. Truist Financial set a $280.00 price target on shares of Tesla in a research report on Tuesday, April 22nd. Finally, Royal Bank of Canada reduced their price target on shares of Tesla from $314.00 to $307.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 23rd. Ten analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $293.67.

Tesla 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.