Pure Portfolios Holdings LLC Decreases Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Pure Portfolios Holdings LLC lowered its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 33.2% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,068 shares of the electric vehicle producer's stock after selling 1,028 shares during the period. Pure Portfolios Holdings LLC's holdings in Tesla were worth $536,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Cherry Tree Wealth Management LLC raised its stake in Tesla by 86.3% in the 1st quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after acquiring an additional 44 shares during the period. First PREMIER Bank grew its holdings in Tesla by 79.2% in the 1st quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after buying an additional 42 shares in the last quarter. Newton One Investments LLC grew its holdings in Tesla by 250.0% in the 1st quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock valued at $27,000 after buying an additional 75 shares in the last quarter. True Wealth Design LLC grew its holdings in Tesla by 79.5% in the 4th quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock valued at $28,000 after buying an additional 31 shares in the last quarter. Finally, Compass Wealth Management LLC grew its holdings in Tesla by 360.0% in the 1st 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 in the last quarter. Institutional investors own 66.20% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Benchmark reissued a "buy" rating and set a $475.00 target price (up from $350.00) on shares of Tesla in a report on Thursday, June 26th. Deutsche Bank Aktiengesellschaft reduced their price objective on Tesla from $420.00 to $345.00 and set a "buy" rating on the stock in a research note on Friday, March 28th. Piper Sandler reaffirmed an "overweight" rating and issued a $400.00 price objective on shares of Tesla in a research note on Tuesday, June 10th. BNP Paribas set a $137.00 price objective on Tesla and gave the company an "underperform" rating in a research note on Wednesday, April 16th. Finally, Canaccord Genuity Group reaffirmed a "buy" rating and issued a $303.00 price objective on shares of Tesla in a research note on Monday, June 30th. Ten research analysts have rated the stock with a sell rating, fourteen have given a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $301.13.

Insider Activity at Tesla

In other Tesla news, Director Robyn M. Denholm sold 112,395 shares of Tesla stock in a transaction that occurred on 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 transaction, the director owned 85,000 shares of the company's stock, valued at $23,300,200. The trade was a 56.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kimbal Musk sold 91,588 shares of Tesla stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $357.39, for a total transaction of $32,732,635.32. Following the transaction, the director directly owned 1,463,220 shares in the company, valued at $522,940,195.80. This represents a 5.89% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 829,509 shares of company stock valued at $277,648,925 in the last three months. Corporate insiders own 20.70% of the company's stock.

Tesla Trading Up 2.6%

Shares of NASDAQ:TSLA traded up $7.57 on Tuesday, hitting $301.51. The company had a trading volume of 64,241,501 shares, compared to its average volume of 100,907,064. The firm's 50-day simple moving average is $321.10 and its two-hundred day simple moving average is $323.46. Tesla, Inc. has a 1 year low of $182.00 and a 1 year high of $488.54. The company has a quick ratio of 1.54, a current ratio of 2.00 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $971.15 billion, a price-to-earnings ratio of 165.66, a P/E/G ratio of 9.17 and a beta of 2.39.

Tesla (NASDAQ:TSLA - Get Free Report) last issued 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). 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 last year, the business earned $0.45 earnings per share. Equities analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal 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.