Gradient Investments LLC Decreases Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Gradient Investments LLC cut its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 33.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,360 shares of the electric vehicle producer's stock after selling 4,254 shares during the period. Gradient Investments LLC's holdings in Tesla were worth $2,167,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. True Wealth Design LLC grew its holdings 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. lifted its position in Tesla by 75.6% during the fourth quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer's stock valued at $32,000 after purchasing an additional 34 shares during the period. GS Investments Inc. raised its position in shares of 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 acquiring an additional 58 shares during the period. Navigoe LLC acquired a new position in shares of Tesla in the fourth quarter worth about $37,000. Finally, CoreFirst Bank & Trust acquired a new position in shares of Tesla in the fourth quarter worth about $38,000. Institutional investors own 66.20% of the company's stock.

Insider Transactions at Tesla

In related news, Director Ira Matthew Ehrenpreis sold 477,572 shares of the stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $357.30, for a total transaction of $170,636,475.60. Following the sale, the director now owns 855,394 shares in the company, valued at approximately $305,632,276.20. This represents a 35.83% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Vaibhav Taneja sold 2,672 shares of the stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $268.73, for a total value of $718,046.56. Following the sale, the chief financial officer now owns 26,950 shares in the company, valued at $7,242,273.50. The trade was a 9.02% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 866,393 shares of company stock valued at $284,570,654 in the last ninety days. Corporate insiders own 20.70% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on TSLA shares. The Goldman Sachs Group reissued a "neutral" rating on shares of Tesla in a research note on Tuesday, April 22nd. JPMorgan Chase & Co. dropped their price objective on shares of Tesla from $120.00 to $115.00 and set an "underweight" rating for the company in a research note on Wednesday, April 23rd. Cfra Research cut shares of Tesla from a "moderate buy" rating to a "hold" rating in a research note on Tuesday, April 22nd. Stifel Nicolaus set a $450.00 price objective on shares of Tesla and gave the stock a "buy" rating in a report on Thursday, April 24th. Finally, Wells Fargo & Company decreased their price objective on shares of Tesla from $135.00 to $130.00 and set an "underweight" rating on the stock in a report on Friday, March 14th. Ten investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $293.97.

Tesla Stock Performance

NASDAQ:TSLA traded down $12.22 during mid-day trading on Wednesday, reaching $332.05. The company's stock had a trading volume of 97,758,015 shares, compared to its average volume of 98,217,228. The firm's fifty day moving average price is $289.75 and its two-hundred day moving average price is $334.35. The stock has a market cap of $1.07 trillion, a P/E ratio of 162.77, a PEG ratio of 5.86 and a beta of 2.47. Tesla, Inc. has a 12-month low of $167.41 and a 12-month high of $488.54. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS for the quarter, missing analysts' consensus estimates of $0.53 by ($0.26). The business had revenue of $19.34 billion during the quarter, compared to analysts' expectations of $22.93 billion. Tesla had a return on equity of 10.31% and a net margin of 7.26%. During the same period in the prior year, the firm posted $0.45 earnings per share. On average, equities 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.