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

Dakota Wealth Management lowered its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 16.2% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,050 shares of the electric vehicle producer's stock after selling 2,909 shares during the quarter. 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 have also made changes to their positions in TSLA. Norges Bank acquired a new stake in shares of Tesla during the 4th quarter worth about $14,420,248,000. FMR LLC grew its holdings in Tesla by 40.1% during the 4th quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer's stock worth $13,997,660,000 after acquiring an additional 9,920,325 shares during the last quarter. GAMMA Investing LLC grew its holdings in Tesla by 27,378.6% during the 1st quarter. GAMMA Investing LLC now owns 9,812,316 shares of the electric vehicle producer's stock worth $2,542,960,000 after acquiring an additional 9,776,607 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in Tesla by 4,963.0% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 5,834,707 shares of the electric vehicle producer's stock worth $2,356,288,000 after acquiring an additional 5,719,466 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in Tesla by 21.6% during the 4th quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer's stock worth $11,541,592,000 after acquiring an additional 5,075,418 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company's stock.

Tesla Stock Performance

Shares of TSLA stock opened at $316.90 on Tuesday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.54 and a current ratio of 2.00. The company has a market capitalization of $1.02 trillion, a P/E ratio of 174.12, a price-to-earnings-growth ratio of 9.33 and a beta of 2.39. The company's 50 day moving average price is $323.33 and its two-hundred day moving average price is $318.52. Tesla, Inc. has a 52 week low of $182.00 and a 52 week high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its 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). Tesla had a return on equity of 9.02% and a net margin of 6.66%. The company had revenue of $19.34 billion for the quarter, compared to analyst estimates of $22.93 billion. During the same quarter last year, the business posted $0.45 earnings per share. On average, analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Buying and Selling at Tesla

In other news, Director Ira Matthew Ehrenpreis sold 477,572 shares of Tesla stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $357.30, for a total value of $170,636,475.60. Following the sale, the director directly owned 855,394 shares in the company, valued at $305,632,276.20. This trade represents a 35.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Xiaotong Zhu sold 15,000 shares of Tesla stock in a transaction that occurred on Thursday, June 12th. The shares were 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 owned 67,600 shares in the company, 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. Insiders have sold 835,509 shares of company stock valued at $279,420,485 over the last ninety days. 20.70% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

TSLA has been the topic of a number of research analyst reports. Glj Research reissued a "sell" rating and set a $19.05 price objective (down previously from $24.86) on shares of Tesla in a report on Monday, April 21st. Royal Bank Of Canada decreased their price objective on shares of Tesla from $314.00 to $307.00 and set an "outperform" rating on the stock in a report on Wednesday, April 23rd. Needham & Company LLC reissued a "hold" rating on shares of Tesla in a report on Wednesday, April 23rd. Benchmark reissued a "buy" rating and set a $475.00 price objective (up previously from $350.00) on shares of Tesla in a report on Thursday, June 26th. Finally, Baird R W lowered shares of Tesla from a "strong-buy" rating to a "hold" rating in a report on Monday, June 9th. Ten equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target 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.

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