Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Lowers Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lowered its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 45.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,139 shares of the electric vehicle producer's stock after selling 6,684 shares during the quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA's holdings in Tesla were worth $2,041,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Victrix Investment Advisors lifted its position in Tesla by 14.5% in the first quarter. Victrix Investment Advisors now owns 1,214 shares of the electric vehicle producer's stock valued at $329,000 after purchasing an additional 154 shares during the period. Beacon Financial Advisory LLC lifted its position in Tesla by 1.9% in the first quarter. Beacon Financial Advisory LLC now owns 7,502 shares of the electric vehicle producer's stock valued at $1,944,000 after purchasing an additional 143 shares during the period. Elite Life Management LLC lifted its position in Tesla by 6.1% in the first quarter. Elite Life Management LLC now owns 902 shares of the electric vehicle producer's stock valued at $234,000 after purchasing an additional 52 shares during the period. Stone Summit Wealth LLC lifted its position in Tesla by 3.8% in the first quarter. Stone Summit Wealth LLC now owns 2,345 shares of the electric vehicle producer's stock valued at $608,000 after purchasing an additional 85 shares during the period. Finally, Total Wealth Planning & Management Inc. lifted its position in Tesla by 15.1% in the first quarter. Total Wealth Planning & Management Inc. now owns 1,296 shares of the electric vehicle producer's stock valued at $336,000 after purchasing an additional 170 shares during the period. Hedge funds and other institutional investors own 66.20% of the company's stock.

Insider Buying and Selling at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 2,564 shares of the business's stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $285.71, for a total transaction of $732,560.44. Following the completion of the sale, the chief financial officer now owns 5,924 shares of the company's stock, valued at approximately $1,692,546.04. The trade was a 30.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Xiaotong Zhu sold 15,000 shares of the company's stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $323.81, for a total value of $4,857,150.00. Following the completion of the sale, the senior vice president now directly owns 67,600 shares of the company's stock, valued at $21,889,556. The trade was a 18.16% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 833,509 shares of company stock valued at $278,648,925. Company insiders own 20.70% of the company's stock.

Tesla Stock Performance

Tesla stock opened at $323.63 on Friday. The stock has a fifty day moving average price of $314.93 and a 200 day moving average price of $330.48. Tesla, Inc. has a 52 week low of $182.00 and a 52 week 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 firm has a market capitalization of $1.04 trillion, a P/E ratio of 177.82, a PEG ratio of 12.18 and a beta of 2.47.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.53 by ($0.26). Tesla had a net margin of 6.66% and a return on equity of 9.02%. The firm had revenue of $19.34 billion for the quarter, compared to analysts' expectations of $22.93 billion. During the same period last year, the firm posted $0.45 EPS. Equities research analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. HSBC reduced their price objective on shares of Tesla from $165.00 to $130.00 and set a "reduce" rating for the company in a research report on Thursday, March 27th. JPMorgan Chase & Co. reduced their price objective on shares of Tesla from $120.00 to $115.00 and set an "underweight" rating for the company in a research report on Wednesday, April 23rd. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Tesla from $420.00 to $345.00 and set a "buy" rating for the company in a research report on Friday, March 28th. Cowen upgraded shares of Tesla from a "hold" rating to a "buy" rating in a research report on Thursday, March 6th. Finally, Wedbush reiterated an "outperform" rating and set a $500.00 price target on shares of Tesla in a research report on Friday, June 20th. Ten equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $298.37.

Tesla Company 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.

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