Nwam LLC Sells 44,303 Shares of Tesla, Inc. (NASDAQ:TSLA)

Nwam LLC reduced its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 70.9% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 18,171 shares of the electric vehicle producer's stock after selling 44,303 shares during the period. Nwam LLC's holdings in Tesla were worth $4,709,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Eagle Capital Management LLC purchased a new stake in shares of Tesla during the fourth quarter valued at approximately $331,000. Brighton Jones LLC increased 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 acquiring an additional 9,293 shares during the last quarter. Revolve Wealth Partners LLC increased 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 acquiring 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 approximately $346,000. Finally, Highview Capital Management LLC DE bought a new position in Tesla during the fourth quarter valued at $2,367,000. 66.20% of the stock is owned by institutional investors.

Insider Activity at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 15,000 shares of the firm's stock in a transaction that occurred on Thursday, June 12th. The shares were 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 directly owned 67,600 shares in the company, valued at $21,889,556. This trade represents a 18.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Vaibhav Taneja sold 6,000 shares of Tesla stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $341.02, for a total transaction of $2,046,120.00. Following the sale, 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 sold a total of 835,509 shares of company stock valued at $279,420,485 over the last quarter. 20.70% of the stock is owned by insiders.

Tesla Trading Up 3.0%

Shares of NASDAQ:TSLA traded up $9.47 during trading on Friday, reaching $328.88. The company's stock had a trading volume of 39,662,956 shares, compared to its average volume of 98,727,640. The company has a current ratio of 2.00, a quick ratio of 1.54 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a 12 month low of $182.00 and a 12 month high of $488.54. The firm's 50 day simple moving average is $325.64 and its two-hundred day simple moving average is $317.81. The stock has a market capitalization of $1.06 trillion, a PE ratio of 180.58, a price-to-earnings-growth ratio of 9.80 and a beta of 2.39.

Tesla (NASDAQ:TSLA - Get Free Report) last issued 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 business had revenue of $19.34 billion for the quarter, compared to analysts' expectations of $22.93 billion. Tesla had a net margin of 6.66% and a return on equity of 9.02%. During the same period in the previous year, the business earned $0.45 earnings per share. On average, research analysts predict that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Barclays reduced their price objective on Tesla from $325.00 to $275.00 and set an "equal weight" rating for the company in a report on Monday, April 21st. Morgan Stanley reissued an "overweight" rating and set a $410.00 price objective on shares of Tesla in a report on Friday, June 6th. Deutsche Bank Aktiengesellschaft cut their price target on Tesla from $420.00 to $345.00 and set a "buy" rating for the company in a report on Friday, March 28th. Cfra Research lowered Tesla from a "moderate buy" rating to a "hold" rating in a report on Tuesday, April 22nd. Finally, Mizuho cut their price target on Tesla from $390.00 to $375.00 and set an "outperform" rating for the company in a report on Tuesday, July 8th. Ten equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $300.19.

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.

Want to see what other hedge funds are holding TSLA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tesla, Inc. (NASDAQ:TSLA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.