Griffin Asset Management Inc. Has $1.27 Million Stake in Tesla, Inc. (NASDAQ:TSLA)

Griffin Asset Management Inc. lowered its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 41.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,892 shares of the electric vehicle producer's stock after selling 3,485 shares during the quarter. Griffin Asset Management Inc.'s holdings in Tesla were worth $1,268,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in TSLA. True Wealth Design LLC increased its stake in Tesla by 79.5% in the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock valued at $28,000 after acquiring an additional 31 shares during the period. Horrell Capital Management Inc. increased its stake in Tesla by 75.6% in the fourth quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer's stock valued at $32,000 after acquiring an additional 34 shares during the period. GS Investments Inc. increased its stake in Tesla by 193.3% in the fourth quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer's stock valued at $36,000 after acquiring an additional 58 shares during the period. Navigoe LLC bought a new stake in Tesla in the fourth quarter valued at about $37,000. Finally, CoreFirst Bank & Trust bought a new stake in Tesla in the fourth quarter valued at about $38,000. Institutional investors own 66.20% of the company's stock.

Wall Street Analyst Weigh In

TSLA has been the topic of a number of analyst reports. Barclays lowered their target price on shares of Tesla from $325.00 to $275.00 and set an "equal weight" rating on the stock in a research note on Monday, April 21st. Stifel Nicolaus set a $450.00 price objective on shares of Tesla and gave the stock a "buy" rating in a research note on Thursday, April 24th. TD Cowen raised shares of Tesla from a "hold" rating to a "buy" rating and upped their price objective for the stock from $180.00 to $388.00 in a research note on Friday, March 7th. Argus reaffirmed a "hold" rating on shares of Tesla in a research note on Monday, June 9th. Finally, 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. Ten investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $293.67.

Insider Transactions at Tesla

In other news, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction on Monday, April 7th. The shares were sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the transaction, the chief financial officer now directly owns 26,950 shares of the company's stock, valued at $6,737,500. This trade represents a 12.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of Tesla 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 transaction, the director now directly owns 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. Insiders have sold a total of 818,509 shares of company stock valued at $273,791,775 over the last three months. 20.70% of the stock is currently owned by corporate insiders.

Tesla Trading Up 1.9%

NASDAQ TSLA traded up $6.20 during trading hours on Friday, hitting $325.31. The company's stock had a trading volume of 128,417,075 shares, compared to its average volume of 100,836,055. The stock has a fifty day moving average of $299.39 and a 200 day moving average of $332.88. Tesla, Inc. has a twelve month low of $177.00 and a twelve month high of $488.54. The firm has a market capitalization of $1.05 trillion, a P/E ratio of 159.47, a PEG ratio of 5.86 and a beta of 2.47. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.26). Tesla had a net margin of 7.26% and a return on equity of 10.31%. The business 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 company earned $0.45 earnings per share. Equities research analysts forecast that Tesla, Inc. will post 2.56 earnings per share 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.