Nilsine Partners LLC Decreases Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Nilsine Partners LLC lessened its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 24.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,875 shares of the electric vehicle producer's stock after selling 3,447 shares during the quarter. Nilsine Partners LLC's holdings in Tesla were worth $2,818,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Cherry Tree Wealth Management LLC increased its holdings in shares of Tesla by 86.3% in the first quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after purchasing an additional 44 shares during the last quarter. Newton One Investments LLC increased its holdings in shares of Tesla by 250.0% in the first quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock valued at $27,000 after purchasing an additional 75 shares during the last quarter. True Wealth Design LLC increased its holdings in shares of 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 purchasing an additional 31 shares during the last quarter. Horrell Capital Management Inc. increased its holdings in shares of 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 purchasing an additional 34 shares during the last quarter. Finally, Pflug Koory LLC increased its holdings in shares of Tesla by 370.4% in the first quarter. Pflug Koory LLC now owns 127 shares of the electric vehicle producer's stock valued at $33,000 after purchasing an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company's stock.

Insiders Place Their Bets

In other Tesla news, Director Ira Matthew Ehrenpreis sold 477,572 shares of Tesla stock in a transaction dated 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Xiaotong Zhu sold 15,000 shares of Tesla 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 sale, the senior vice president now directly owns 67,600 shares of the company's stock, valued at $21,889,556. This trade represents a 18.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 833,509 shares of company stock valued at $278,648,925 in the last ninety days. Insiders own 20.70% of the company's stock.

Tesla Trading Up 0.0%

NASDAQ:TSLA opened at $322.16 on Friday. The firm has a market cap of $1.04 trillion, a PE ratio of 177.01, a price-to-earnings-growth ratio of 12.05 and a beta of 2.47. 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 stock has a fifty day moving average price of $306.22 and a 200 day moving average price of $331.96. Tesla, Inc. has a 12-month low of $182.00 and a 12-month high of $488.54.

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

Analyst Upgrades and Downgrades

Several research firms recently commented on TSLA. Cantor Fitzgerald cut their price target on Tesla from $425.00 to $355.00 and set an "overweight" rating for the company in a report on Wednesday, April 23rd. TD Cowen raised Tesla from a "hold" rating to a "buy" rating and increased their price target for the company from $180.00 to $388.00 in a report on Friday, March 7th. Needham & Company LLC reissued a "hold" rating on shares of Tesla in a research note on Wednesday, April 23rd. Bank of America cut their target price on Tesla from $490.00 to $380.00 and set a "neutral" rating for the company in a research note on Tuesday, March 4th. Finally, Piper Sandler reissued an "overweight" rating and set a $400.00 target price on shares of Tesla in a research note on Tuesday, June 10th. Ten investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Tesla currently has an average rating of "Hold" and an average price target of $293.67.

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.

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