Continuum Advisory LLC Sells 846 Shares of Tesla, Inc. (NASDAQ:TSLA)

Continuum Advisory LLC lowered its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 11.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,635 shares of the electric vehicle producer's stock after selling 846 shares during the period. Continuum Advisory LLC's holdings in Tesla were worth $1,720,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. True Wealth Design LLC increased its position in Tesla by 79.5% in the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock worth $28,000 after purchasing an additional 31 shares during the last quarter. Horrell Capital Management Inc. increased its position in Tesla by 75.6% in the fourth quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer's stock worth $32,000 after purchasing an additional 34 shares during the last quarter. GS Investments Inc. increased its position in Tesla by 193.3% in the fourth quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer's stock worth $36,000 after purchasing an additional 58 shares during the last quarter. Navigoe LLC bought a new stake in Tesla in the fourth quarter worth $37,000. Finally, CoreFirst Bank & Trust bought a new stake in Tesla in the fourth quarter worth $38,000. Institutional investors own 66.20% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on TSLA. Baird R W lowered shares of Tesla from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 9th. Mizuho lifted their price objective on shares of Tesla from $325.00 to $390.00 and gave the stock an "outperform" rating in a research note on Friday, May 16th. Cantor Fitzgerald dropped their price objective on shares of Tesla from $425.00 to $355.00 and set an "overweight" rating for the company in a research note on Wednesday, April 23rd. BNP Paribas set a $137.00 price objective on shares of Tesla and gave the stock an "underperform" rating in a research note on Wednesday, April 16th. Finally, TD Cowen raised shares of Tesla from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $180.00 to $388.00 in a research note on Friday, March 7th. Ten equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $294.58.

Tesla Stock Performance

TSLA stock opened at $348.68 on Tuesday. The firm has a market cap of $1.12 trillion, a price-to-earnings ratio of 191.58, a PEG ratio of 12.05 and a beta of 2.47. The firm has a 50-day simple moving average of $308.14 and a two-hundred day simple moving average of $331.42. Tesla, Inc. has a one year low of $182.00 and a one year high of $488.54. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.54 and a current ratio of 2.00.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 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 net margin of 6.66% and a return on equity of 9.02%. During the same period in the previous year, the company posted $0.45 earnings per share. On average, equities analysts forecast that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Buying and Selling at Tesla

In related news, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $250.00, for a total value of $1,000,000.00. Following the completion of the sale, the chief financial officer now directly owns 26,950 shares in the company, valued at $6,737,500. This trade represents a 12.92% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Xiaotong Zhu sold 15,000 shares of Tesla stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $323.81, for a total transaction of $4,857,150.00. Following the completion of the sale, the senior vice president now owns 67,600 shares of the company's stock, valued at $21,889,556. This trade represents a 18.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 833,509 shares of company stock valued at $278,648,925. 20.70% of the stock is currently owned by insiders.

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.

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