Pure Portfolios Holdings LLC Sells 1,028 Shares of Tesla, Inc. (NASDAQ:TSLA)

Pure Portfolios Holdings LLC reduced its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 33.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,068 shares of the electric vehicle producer's stock after selling 1,028 shares during the quarter. Pure Portfolios Holdings LLC's holdings in Tesla were worth $536,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the company. Cherry Tree Wealth Management LLC grew its position 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 in the last quarter. First PREMIER Bank grew its position in shares of Tesla by 79.2% in the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after purchasing an additional 42 shares in the last quarter. Newton One Investments LLC grew its position 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 in the last quarter. True Wealth Design LLC grew 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 valued at $28,000 after purchasing an additional 31 shares in the last quarter. Finally, Compass Wealth Management LLC boosted its stake in Tesla by 360.0% during the first quarter. Compass Wealth Management LLC now owns 115 shares of the electric vehicle producer's stock valued at $30,000 after buying an additional 90 shares during the period. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Trading Down 0.7%

NASDAQ:TSLA traded down $2.09 during mid-day trading on Friday, reaching $313.56. 58,042,302 shares of the company's stock traded hands, compared to its average volume of 100,923,382. Tesla, Inc. has a 12-month low of $182.00 and a 12-month high of $488.54. The firm has a market capitalization of $1.01 trillion, a price-to-earnings ratio of 172.29, a PEG 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 has a 50 day moving average price of $320.93 and a 200-day moving average price of $325.13.

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). Tesla had a net margin of 6.66% and a return on equity of 9.02%. The business had revenue of $19.34 billion for the quarter, compared to analysts' expectations of $22.93 billion. During the same quarter in the prior year, the firm earned $0.45 EPS. On average, sell-side analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Activity

In other news, Director Kimbal Musk sold 91,588 shares of the business's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $357.39, for a total value of $32,732,635.32. Following the sale, the director directly owned 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of the business's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $357.30, for a total value of $170,636,475.60. Following the completion of the sale, the director directly owned 855,394 shares in the company, valued at approximately $305,632,276.20. This represents a 35.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 833,509 shares of company stock worth $278,648,925. Company insiders own 20.70% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Cantor Fitzgerald dropped their price objective on Tesla from $425.00 to $355.00 and set an "overweight" rating for the company in a research note on Wednesday, April 23rd. Barclays dropped their price objective on Tesla from $325.00 to $275.00 and set an "equal weight" rating for the company in a research note on Monday, April 21st. Robert W. Baird reissued a "neutral" rating and set a $320.00 price objective on shares of Tesla in a research note on Monday, June 9th. Morgan Stanley reissued an "overweight" rating and set a $410.00 price objective on shares of Tesla in a research note on Friday, June 6th. Finally, Royal Bank Of Canada dropped their price objective on Tesla from $314.00 to $307.00 and set an "outperform" rating for the company in a research note on Wednesday, April 23rd. Ten analysts have rated the stock with a sell rating, thirteen have issued a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $301.60.

Tesla 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.