Prairie Wealth Advisors Inc. Sells 2,020 Shares of Tesla, Inc. (NASDAQ:TSLA)

Prairie Wealth Advisors Inc. cut its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 55.2% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,638 shares of the electric vehicle producer's stock after selling 2,020 shares during the period. Prairie Wealth Advisors Inc.'s holdings in Tesla were worth $424,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Friday Financial lifted its position in Tesla by 116.8% during the first quarter. Friday Financial now owns 3,662 shares of the electric vehicle producer's stock valued at $1,035,000 after purchasing an additional 1,973 shares in the last quarter. Pennsylvania Capital Management Inc. ADV lifted its position in Tesla by 198.3% during the first quarter. Pennsylvania Capital Management Inc. ADV now owns 6,660 shares of the electric vehicle producer's stock valued at $1,726,000 after purchasing an additional 4,427 shares in the last quarter. Hudson Value Partners LLC lifted its position in Tesla by 324.5% during the first quarter. Hudson Value Partners LLC now owns 2,475 shares of the electric vehicle producer's stock valued at $642,000 after purchasing an additional 1,892 shares in the last quarter. Ridgecrest Wealth Partners LLC lifted its position in Tesla by 12.4% during the first quarter. Ridgecrest Wealth Partners LLC now owns 5,081 shares of the electric vehicle producer's stock valued at $1,317,000 after purchasing an additional 562 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. lifted its position in Tesla by 1.1% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 507,637 shares of the electric vehicle producer's stock valued at $131,559,000 after purchasing an additional 5,739 shares in the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Tesla Trading Up 0.0%

TSLA opened at $322.16 on Monday. The stock has a market cap of $1.04 trillion, a price-to-earnings ratio of 177.01, a P/E/G ratio of 12.05 and a beta of 2.47. The stock's 50 day moving average price is $306.22 and its 200-day moving average price is $331.70. Tesla, Inc. has a one year low of $182.00 and a one year high of $488.54. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.54 and a current ratio of 2.00.

Tesla (NASDAQ:TSLA - Get Free Report) last released its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 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 the consensus estimate 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 prior year, the company posted $0.45 EPS. On average, equities analysts forecast that Tesla, Inc. will post 2.56 EPS for the current year.

Analyst Ratings Changes

Several research firms recently weighed in on TSLA. Stifel Nicolaus set a $450.00 target price on Tesla and gave the company a "buy" rating in a research report on Thursday, April 24th. Bank of America lowered their price objective on Tesla from $490.00 to $380.00 and set a "neutral" rating on the stock in a research report on Tuesday, March 4th. Raymond James Financial cut Tesla to an "outperform" rating in a report on Tuesday, April 22nd. TD Cowen raised Tesla from a "hold" rating to a "buy" rating and lifted their target price for the stock from $180.00 to $388.00 in a report on Friday, March 7th. Finally, Glj Research reaffirmed a "sell" rating and issued a $19.05 target price (down from $24.86) on shares of Tesla in a report on Monday, April 21st. Ten analysts have rated the stock with a sell rating, thirteen have given a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Tesla has an average rating of "Hold" and an average price target of $293.67.

Insider Activity

In related news, SVP Xiaotong Zhu sold 15,000 shares of the business's stock in a transaction that occurred on 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 now owns 67,600 shares in the company, valued at approximately $21,889,556. The trade was a 18.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kimbal Musk sold 91,588 shares of the business's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $357.39, for a total value of $32,732,635.32. Following the completion of the sale, the director now owns 1,463,220 shares of the company's stock, valued at $522,940,195.80. The trade was a 5.89% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 833,509 shares of company stock valued at $278,648,925. 20.70% of the stock is currently owned by insiders.

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.