Brighton Jones LLC Sells 2,879 Shares of Tesla, Inc. (NASDAQ:TSLA)

Brighton Jones LLC lessened its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 3.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 85,050 shares of the electric vehicle producer's stock after selling 2,879 shares during the quarter. Tesla comprises 0.7% of Brighton Jones LLC's investment portfolio, making the stock its 23rd biggest holding. Brighton Jones LLC's holdings in Tesla were worth $22,042,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Susquehanna Fundamental Investments LLC bought a new stake in shares of Tesla during the fourth quarter valued at approximately $56,600,000. Focus Financial Network Inc. grew its position in Tesla by 3.1% in the 1st 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. increased its stake in Tesla by 133.7% during the 4th 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 in the last quarter. Harvard Management Co. Inc. acquired a new position in Tesla during the fourth quarter worth $8,158,000. Finally, Vontobel Holding Ltd. lifted its stake in shares of Tesla by 23.0% in the fourth quarter. Vontobel Holding Ltd. now owns 322,300 shares of the electric vehicle producer's stock valued at $130,158,000 after buying an additional 60,342 shares in the last quarter. Institutional investors own 66.20% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on TSLA shares. UBS Group decreased their target price on shares of Tesla from $225.00 to $190.00 and set a "sell" rating for the company in a research report on Thursday, April 10th. Bank of America cut their price target on Tesla from $490.00 to $380.00 and set a "neutral" rating for the company in a research note on Tuesday, March 4th. The Goldman Sachs Group lowered their price objective on Tesla from $295.00 to $285.00 and set a "neutral" rating for the company in a research note on Friday, June 6th. Stifel Nicolaus set a $450.00 target price on Tesla and gave the company a "buy" rating in a report on Thursday, April 24th. Finally, Benchmark reiterated a "buy" rating and set a $350.00 price target on shares of Tesla in a report on Wednesday, April 23rd. Ten research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $293.67.

Insider Activity at Tesla

In related news, Director Joseph Gebbia bought 4,000 shares of Tesla stock in a transaction on Thursday, April 24th. The stock was acquired at an average price of $256.31 per share, with a total value of $1,025,240.00. Following the acquisition, the director now directly owns 4,111 shares of the company's stock, valued at $1,053,690.41. This represents a 3,603.60% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robyn M. Denholm sold 112,395 shares of the stock in a transaction dated 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 completion of the sale, the director now directly owns 85,000 shares in the company, valued at approximately $23,300,200. The trade was a 56.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 818,509 shares of company stock worth $273,791,775. Corporate insiders own 20.70% of the company's stock.

Tesla Stock Performance

TSLA traded up $6.20 during trading hours on Friday, hitting $325.31. The stock had a trading volume of 128,417,075 shares, compared to its average volume of 100,836,055. Tesla, Inc. has a 1 year low of $177.00 and a 1 year high of $488.54. The company's fifty day simple moving average is $299.39 and its 200 day simple moving average is $332.88. The stock has a market cap of $1.05 trillion, a PE ratio of 159.47, a price-to-earnings-growth ratio of 5.86 and a beta of 2.47. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.26). Tesla had a return on equity of 10.31% and a net margin of 7.26%. The business had revenue of $19.34 billion during the quarter, compared to analysts' expectations of $22.93 billion. During the same quarter in the previous year, the business earned $0.45 EPS. Equities analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current 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.