Tesla, Inc. (NASDAQ:TSLA) Position Reduced by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC cut its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 0.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 585,969 shares of the electric vehicle producer's stock after selling 4,213 shares during the quarter. Tesla comprises approximately 0.8% of Nisa Investment Advisors LLC's investment portfolio, making the stock its 14th biggest holding. Nisa Investment Advisors LLC's holdings in Tesla were worth $151,860,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. True Wealth Design LLC raised its position 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 worth $28,000 after acquiring an additional 31 shares during the period. Horrell Capital Management Inc. boosted its position in Tesla by 75.6% during the fourth quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer's stock worth $32,000 after acquiring an additional 34 shares during the last quarter. GS Investments Inc. raised its holdings in Tesla by 193.3% in the 4th 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 last quarter. Navigoe LLC acquired a new stake in Tesla in the 4th quarter valued at about $37,000. Finally, CoreFirst Bank & Trust purchased a new stake in shares of Tesla in the fourth quarter valued at approximately $38,000. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Tesla

In other news, Director Robyn M. Denholm sold 112,395 shares of Tesla stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $274.12, for a total transaction of $30,809,717.40. Following the completion of the sale, the director directly owned 85,000 shares in the company, valued at $23,300,200. The trade was a 56.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Vaibhav Taneja sold 6,000 shares of the company's stock in a transaction on 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 completion of the transaction, the chief financial officer owned 1,950 shares of the company's stock, valued at $664,989. The trade was a 75.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 829,509 shares of company stock valued at $277,648,925 in the last quarter. 20.70% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Cfra Research cut Tesla from a "moderate buy" rating to a "hold" rating in a report on Tuesday, April 22nd. Royal Bank Of Canada cut their price objective on shares of Tesla from $314.00 to $307.00 and set an "outperform" rating for the company in a research report on Wednesday, April 23rd. Oppenheimer reiterated a "mixed" rating on shares of Tesla in a report on Tuesday, March 18th. Benchmark reaffirmed a "buy" rating and set a $475.00 price target (up previously from $350.00) on shares of Tesla in a research report on Thursday, June 26th. Finally, Robert W. Baird reiterated a "neutral" rating and issued a $320.00 price objective on shares of Tesla in a report on Monday, June 9th. Ten analysts have rated the stock with a sell rating, fourteen have issued a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $301.13.

Tesla Price Performance

Shares of NASDAQ TSLA traded down $1.93 during midday trading on Wednesday, hitting $295.88. The company had a trading volume of 75,143,508 shares, compared to its average volume of 100,727,709. The company has a quick ratio of 1.54, a current ratio of 2.00 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a twelve month low of $182.00 and a twelve month high of $488.54. The business has a 50-day simple moving average of $321.21 and a two-hundred day simple moving average of $323.29. The firm has a market capitalization of $953.02 billion, a price-to-earnings ratio of 162.57, a price-to-earnings-growth ratio of 8.57 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 (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 analyst estimates of $22.93 billion. Tesla had a return on equity of 9.02% and a net margin of 6.66%. During the same quarter in the previous 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.

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.