Dakota Wealth Management Has $3.90 Million Position in Tesla, Inc. (NASDAQ:TSLA)

Dakota Wealth Management lessened its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 16.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,050 shares of the electric vehicle producer's stock after selling 2,909 shares during the period. Dakota Wealth Management's holdings in Tesla were worth $3,900,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of TSLA. Susquehanna Fundamental Investments LLC bought a new stake in shares of Tesla during the 4th quarter worth about $56,600,000. Means Investment CO. Inc. boosted its holdings in shares of Tesla by 37.7% during the 1st quarter. Means Investment CO. Inc. now owns 23,089 shares of the electric vehicle producer's stock worth $5,984,000 after buying an additional 6,323 shares during the period. Focus Financial Network Inc. boosted its holdings in shares of Tesla by 3.1% during the 1st quarter. Focus Financial Network Inc. now owns 22,467 shares of the electric vehicle producer's stock worth $5,823,000 after buying an additional 670 shares during the period. IFM Investors Pty Ltd boosted its holdings in shares of Tesla by 8.5% during the 1st quarter. IFM Investors Pty Ltd now owns 586,460 shares of the electric vehicle producer's stock worth $153,436,000 after buying an additional 46,087 shares during the period. Finally, Harvard Management Co. Inc. bought a new stake in shares of Tesla during the 4th quarter worth about $8,158,000. Institutional investors own 66.20% of the company's stock.

Tesla Trading Up 3.2%

TSLA traded up $10.29 during trading on Friday, reaching $329.70. 79,196,127 shares of the company's stock were exchanged, compared to its average volume of 98,883,338. Tesla, Inc. has a one year low of $182.00 and a one year high of $488.54. The company has a current ratio of 2.00, a quick ratio of 1.54 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $1.06 trillion, a PE ratio of 181.00, a price-to-earnings-growth ratio of 9.80 and a beta of 2.39. The firm has a fifty day moving average price of $325.64 and a two-hundred day moving average price of $317.81.

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 analysts' consensus estimates of $0.53 by ($0.26). Tesla had a return on equity of 9.02% and a net margin of 6.66%. The business had revenue of $19.34 billion for the quarter, compared to the consensus estimate of $22.93 billion. During the same period in the previous year, the firm earned $0.45 earnings per share. As a group, equities research analysts forecast 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 company's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $357.39, for a total value of $32,732,635.32. Following the sale, the director directly owned 1,463,220 shares of the company's stock, valued at approximately $522,940,195.80. This represents a 5.89% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of the company'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 directly owned 855,394 shares in the company, valued at approximately $305,632,276.20. This represents a 35.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 835,509 shares of company stock valued at $279,420,485. Company insiders own 20.70% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on TSLA. Argus reaffirmed a "hold" rating on shares of Tesla in a report on Monday, June 9th. Glj Research reiterated a "sell" rating and issued a $19.05 price objective (down previously from $24.86) on shares of Tesla in a research note on Monday, April 21st. Roth Mkm dropped their price objective on shares of Tesla from $450.00 to $395.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. Wedbush reiterated an "outperform" rating and issued a $500.00 price objective on shares of Tesla in a research note on Tuesday, July 8th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Tesla in a research note on Wednesday, April 23rd. Ten analysts have rated the stock with a sell rating, fourteen have issued a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $300.19.

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.