Tesla, Inc. (NASDAQ:TSLA) is Pacific Point Advisors LLC's 3rd Largest Position

Pacific Point Advisors LLC lowered its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 9.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,339 shares of the electric vehicle producer's stock after selling 2,000 shares during the quarter. Tesla makes up about 2.8% of Pacific Point Advisors LLC's holdings, making the stock its 3rd largest holding. Pacific Point Advisors LLC's holdings in Tesla were worth $5,012,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in shares of Tesla by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 243,193,181 shares of the electric vehicle producer's stock valued at $98,211,134,000 after purchasing an additional 3,571,793 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Tesla by 2.8% in the fourth quarter. Geode Capital Management LLC now owns 61,011,604 shares of the electric vehicle producer's stock valued at $24,566,217,000 after purchasing an additional 1,655,203 shares during the last quarter. Norges Bank acquired a new stake in Tesla during the fourth quarter worth $14,420,248,000. FMR LLC increased its stake in Tesla by 40.1% during the fourth quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer's stock worth $13,997,660,000 after acquiring an additional 9,920,325 shares during the last quarter. Finally, Northern Trust Corp increased its stake in Tesla by 21.6% during the fourth quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer's stock worth $11,541,592,000 after acquiring an additional 5,075,418 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company's stock.

Insiders Place Their Bets

In other news, SVP Xiaotong Zhu sold 15,000 shares of the business'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 directly owned 67,600 shares of the company's stock, valued at approximately $21,889,556. The trade was a 18.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Vaibhav Taneja sold 2,564 shares of the business's stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $285.71, for a total value of $732,560.44. Following the completion of the sale, the chief financial officer directly owned 5,924 shares of the company's stock, valued at $1,692,546.04. The trade was a 30.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 829,509 shares of company stock worth $277,648,925. Corporate insiders own 20.70% of the company's stock.

Tesla Stock Down 6.8%

Shares of TSLA traded down $21.41 during mid-day trading on Monday, reaching $293.94. The company's stock had a trading volume of 130,417,797 shares, compared to its average volume of 101,042,446. Tesla, Inc. has a 12-month low of $182.00 and a 12-month high of $488.54. The stock has a market cap of $946.77 billion, a PE ratio of 161.51, a price-to-earnings-growth ratio of 9.17 and a beta of 2.39. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.00 and a quick ratio of 1.54. The company's 50 day moving average is $320.93 and its 200 day moving average is $324.35.

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

Wall Street Analyst Weigh In

TSLA has been the subject of several recent analyst reports. Canaccord Genuity Group reissued a "buy" rating and set a $303.00 target price on shares of Tesla in a research note on Monday, June 30th. Glj Research reissued a "sell" rating and set a $19.05 target price (down previously from $24.86) on shares of Tesla in a research note on Monday, April 21st. Argus reissued a "hold" rating on shares of Tesla in a research note on Monday, June 9th. William Blair cut Tesla from an "outperform" rating to a "market perform" rating in a research note on Monday. Finally, Wedbush reissued an "outperform" rating and set a $500.00 target price on shares of Tesla in a research note on Tuesday, July 1st. Ten research analysts have rated the stock with a sell rating, fourteen have given 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.com, the stock presently has a consensus rating of "Hold" and an average target price of $301.60.

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.