Main Street Research LLC Reduces Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Main Street Research LLC lowered its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 5.8% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 15,045 shares of the electric vehicle producer's stock after selling 923 shares during the quarter. Main Street Research LLC's holdings in Tesla were worth $3,899,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Eagle Capital Management LLC bought a new position in Tesla in the fourth quarter worth $331,000. Brighton Jones LLC boosted its position in shares of Tesla by 11.8% during the fourth quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer's stock valued at $35,509,000 after buying an additional 9,293 shares during the last quarter. Revolve Wealth Partners LLC boosted its position in shares of Tesla by 21.2% during the fourth quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer's stock valued at $2,147,000 after buying an additional 931 shares during the last quarter. Mascagni Wealth Management Inc. purchased a new stake in shares of Tesla during the fourth quarter valued at $346,000. Finally, Highview Capital Management LLC DE bought a new position in Tesla in the fourth quarter valued at about $2,367,000. Institutional investors own 66.20% of the company's stock.

Tesla Stock Up 1.2%

TSLA stock traded up $3.64 on Friday, hitting $313.51. 78,861,329 shares of the company's stock were exchanged, compared to its average volume of 99,821,912. Tesla, Inc. has a 12-month low of $182.00 and a 12-month high of $488.54. The firm has a 50 day moving average price of $322.60 and a two-hundred day moving average price of $321.24. 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 stock has a market cap of $1.01 trillion, a P/E ratio of 172.26, a price-to-earnings-growth ratio of 9.22 and a beta of 2.39.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its earnings results 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 return on equity of 9.02% and a net margin of 6.66%. The business had revenue of $19.34 billion for the quarter, compared to analysts' expectations of $22.93 billion. During the same quarter last year, the firm earned $0.45 earnings per share. As a group, equities research analysts expect that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Analyst Ratings Changes

TSLA has been the topic of a number of recent research reports. Barclays lowered their target price on Tesla from $325.00 to $275.00 and set an "equal weight" rating on the stock in a report on Monday, April 21st. Stifel Nicolaus set a $450.00 target price on Tesla and gave the company a "buy" rating in a research note on Thursday, April 24th. Argus restated a "hold" rating on shares of Tesla in a report on Monday, June 9th. Roth Mkm cut their price target on Tesla from $450.00 to $395.00 and set a "buy" rating for the company in a report on Wednesday, April 23rd. Finally, Cfra Research cut Tesla from a "moderate buy" rating to a "hold" rating in a report on Tuesday, April 22nd. Ten equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $300.19.

Insider Activity

In related news, SVP Xiaotong Zhu sold 15,000 shares of the business's stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $323.81, for a total transaction of $4,857,150.00. Following the transaction, the senior vice president directly owned 67,600 shares in the company, valued at $21,889,556. The trade was a 18.16% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Vaibhav Taneja sold 6,000 shares of the business's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $341.02, for a total value of $2,046,120.00. Following the sale, the chief financial officer owned 1,950 shares in the company, valued at approximately $664,989. The trade was a 75.47% decrease in their position. The disclosure for this sale can be found here. Insiders sold 835,509 shares of company stock worth $279,420,485 over the last quarter. Company insiders own 20.70% of the company's stock.

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.