Insight Advisors LLC PA Decreases Holdings in Tesla, Inc. (NASDAQ:TSLA)

Insight Advisors LLC PA trimmed its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 22.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,858 shares of the electric vehicle producer's stock after selling 2,039 shares during the period. Insight Advisors LLC PA's holdings in Tesla were worth $1,777,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Cora Capital Advisors LLC increased its holdings in Tesla by 23.6% in the 1st quarter. Cora Capital Advisors LLC now owns 1,089 shares of the electric vehicle producer's stock valued at $282,000 after acquiring an additional 208 shares during the last quarter. AFG Fiduciary Services Limited Partnership increased its holdings in Tesla by 3.2% in the 1st quarter. AFG Fiduciary Services Limited Partnership now owns 1,324 shares of the electric vehicle producer's stock valued at $360,000 after acquiring an additional 41 shares during the last quarter. Adamsbrown Wealth Consultants LLC increased its holdings in Tesla by 49.1% in the 1st quarter. Adamsbrown Wealth Consultants LLC now owns 2,847 shares of the electric vehicle producer's stock valued at $738,000 after acquiring an additional 937 shares during the last quarter. 626 Financial LLC increased its holdings in Tesla by 18.1% in the 1st quarter. 626 Financial LLC now owns 2,658 shares of the electric vehicle producer's stock valued at $689,000 after acquiring an additional 407 shares during the last quarter. Finally, Choice Wealth Advisors LLC increased its holdings in Tesla by 2.8% in the 1st quarter. Choice Wealth Advisors LLC now owns 3,650 shares of the electric vehicle producer's stock valued at $946,000 after acquiring an additional 100 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Tesla

In other news, Director James R. Murdoch sold 54,776 shares of the company's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $240.79, for a total value of $13,189,513.04. Following the completion of the sale, the director now owns 477,011 shares of the company's stock, valued at approximately $114,859,478.69. This represents a 10.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of the company's stock in a transaction that occurred 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 completion of the sale, the director now directly owns 855,394 shares of the company's stock, valued at $305,632,276.20. The trade was a 35.83% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 870,721 shares of company stock valued at $286,248,728 in the last three months. Company insiders own 20.70% of the company's stock.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. Cantor Fitzgerald reduced their price target on shares of Tesla from $425.00 to $355.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. Glj Research restated a "sell" rating and issued a $19.05 target price (down from $24.86) on shares of Tesla in a report on Monday, April 21st. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Tesla from $420.00 to $345.00 and set a "buy" rating on the stock in a report on Friday, March 28th. Truist Financial set a $280.00 target price on shares of Tesla in a report on Tuesday, April 22nd. Finally, Mizuho boosted their target price on shares of Tesla from $325.00 to $390.00 and gave the stock an "outperform" rating in a report on Friday, May 16th. Ten equities research 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. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $294.27.

Tesla Trading Up 3.7%

Tesla stock traded up $10.44 during trading hours on Friday, hitting $295.14. The company had a trading volume of 163,425,518 shares, compared to its average volume of 99,671,998. The firm has a market cap of $950.63 billion, a P/E ratio of 144.68, a P/E/G ratio of 5.86 and a beta of 2.47. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. Tesla, Inc. has a 1 year low of $167.41 and a 1 year high of $488.54. The company has a 50-day moving average price of $291.63 and a two-hundred day moving average price of $333.97.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.26). The company had revenue of $19.34 billion during the quarter, compared to analysts' expectations of $22.93 billion. Tesla had a net margin of 7.26% and a return on equity of 10.31%. During the same period last year, the firm earned $0.45 earnings per share. On average, sell-side analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current year.

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.