Bristol John W & Co. Inc. NY Sells 7,517 Shares of Tesla, Inc. (NASDAQ:TSLA)

Bristol John W & Co. Inc. NY cut its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 2.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 318,147 shares of the electric vehicle producer's stock after selling 7,517 shares during the period. Tesla accounts for approximately 2.1% of Bristol John W & Co. Inc. NY's holdings, making the stock its 19th biggest holding. Bristol John W & Co. Inc. NY's holdings in Tesla were worth $128,480,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of TSLA. Wealth Group Ltd. bought a new position in Tesla during the 4th quarter worth approximately $275,000. Comprehensive Financial Planning Inc. PA bought a new position in shares of Tesla during the fourth quarter worth $1,361,000. Tallon Kerry Patrick acquired a new position in shares of Tesla in the 4th quarter valued at $374,000. Eagle Capital Management LLC bought a new stake in shares of Tesla in the 4th quarter valued at $331,000. Finally, Independent Wealth Network Inc. lifted its holdings in Tesla by 77.2% during the fourth quarter. Independent Wealth Network Inc. now owns 3,381 shares of the electric vehicle producer's stock worth $1,365,000 after acquiring an additional 1,473 shares in the last quarter. Institutional investors own 66.20% of the company's stock.

Insider Activity at Tesla

In other news, CFO Vaibhav Taneja sold 6,000 shares of the firm's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $296.02, for a total transaction of $1,776,120.00. Following the completion of the transaction, the chief financial officer now owns 23,084 shares of the company's stock, valued at approximately $6,833,325.68. This trade represents a 20.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 value of $30,809,717.40. Following the completion of the sale, the director now owns 85,000 shares of the company's stock, valued at $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. Insiders sold a total of 415,623 shares of company stock worth $116,650,831 in the last quarter. 20.70% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. BNP Paribas set a $137.00 price target on Tesla and gave the stock an "underperform" rating in a research report on Wednesday, April 16th. HSBC dropped their target price on shares of Tesla from $165.00 to $130.00 and set a "reduce" rating on the stock in a report on Thursday, March 27th. Raymond James cut shares of Tesla to an "outperform" rating in a report on Tuesday, April 22nd. Guggenheim reissued a "sell" rating and set a $170.00 price objective on shares of Tesla in a research report on Thursday, April 24th. Finally, Piper Sandler set a $400.00 price objective on shares of Tesla in a research report on Tuesday, May 6th. Ten investment analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $293.97.

Tesla Price Performance

Shares of TSLA stock traded up $5.40 on Thursday, reaching $362.30. The company had a trading volume of 54,001,029 shares, compared to its average volume of 97,550,016. The stock has a market capitalization of $1.17 trillion, a PE ratio of 177.38, a price-to-earnings-growth ratio of 5.86 and a beta of 2.43. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. The business's 50-day moving average is $284.09 and its 200 day moving average is $333.75. Tesla, Inc. has a one year low of $167.41 and a one year high of $488.54.

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

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.