Bradley & Co. Private Wealth Management LLC Sells 870 Shares of Tesla, Inc. (NASDAQ:TSLA)

Bradley & Co. Private Wealth Management LLC lowered its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 7.9% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 10,115 shares of the electric vehicle producer's stock after selling 870 shares during the period. Tesla accounts for about 1.8% of Bradley & Co. Private Wealth Management LLC's holdings, making the stock its 14th largest holding. Bradley & Co. Private Wealth Management LLC's holdings in Tesla were worth $2,621,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. True Wealth Design LLC lifted its position in Tesla by 79.5% in the 4th quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock valued at $28,000 after acquiring an additional 31 shares in the last quarter. Horrell Capital Management Inc. lifted its position in Tesla by 75.6% in the 4th quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer's stock valued at $32,000 after acquiring an additional 34 shares in the last quarter. GS Investments Inc. lifted its position in Tesla by 193.3% in the 4th quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer's stock valued at $36,000 after acquiring an additional 58 shares in the last quarter. Navigoe LLC bought a new position in Tesla in the 4th quarter valued at approximately $37,000. Finally, CoreFirst Bank & Trust bought a new position in Tesla in the 4th quarter valued at approximately $38,000. 66.20% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on TSLA shares. Stifel Nicolaus set a $450.00 price target on Tesla and gave the company a "buy" rating in a report on Thursday, April 24th. Benchmark reissued a "buy" rating and set a $475.00 price target (up from $350.00) on shares of Tesla in a report on Thursday, June 26th. Oppenheimer reissued a "mixed" rating on shares of Tesla in a report on Tuesday, March 18th. HSBC reissued a "reduce" rating and set a $120.00 price target on shares of Tesla in a report on Thursday, July 3rd. Finally, Piper Sandler reissued an "overweight" rating and set a $400.00 price target on shares of Tesla in a report on Tuesday, June 10th. Ten research 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 stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $300.19.

Tesla Price Performance

TSLA stock traded up $3.64 during trading on Friday, reaching $313.51. The company's stock had a trading volume of 78,861,329 shares, compared to its average volume of 99,596,575. Tesla, Inc. has a 1 year low of $182.00 and a 1 year high of $488.54. The company has a quick ratio of 1.54, a current ratio of 2.00 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $1.01 trillion, a P/E ratio of 172.26, a price-to-earnings-growth ratio of 9.33 and a beta of 2.39. The company's fifty day moving average is $322.60 and its 200-day moving average is $320.26.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.53 by ($0.26). The business had revenue of $19.34 billion during the quarter, compared to analysts' expectations 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 previous year, the company posted $0.45 EPS. On average, research analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Kimbal Musk sold 91,588 shares of the firm's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $357.39, for a total transaction of $32,732,635.32. Following the completion of the transaction, the director owned 1,463,220 shares in the company, valued at $522,940,195.80. This trade represents a 5.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Xiaotong Zhu sold 15,000 shares of the firm's stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $323.81, for a total value of $4,857,150.00. Following the transaction, the senior vice president owned 67,600 shares of the company's stock, valued at approximately $21,889,556. The trade was a 18.16% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 835,509 shares of company stock valued at $279,420,485. 20.70% of the stock is owned by corporate insiders.

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.