Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Pure Portfolios Holdings LLC

Pure Portfolios Holdings LLC reduced its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 33.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). 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.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in Tesla by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 243,193,181 shares of the electric vehicle producer's stock worth $98,211,134,000 after purchasing an additional 3,571,793 shares during the last quarter. Geode Capital Management LLC increased its holdings in Tesla by 2.8% during the fourth quarter. Geode Capital Management LLC now owns 61,011,604 shares of the electric vehicle producer's stock worth $24,566,217,000 after buying an additional 1,655,203 shares during the last quarter. Norges Bank bought a new stake in Tesla in the fourth quarter worth about $14,420,248,000. FMR LLC raised its holdings in shares of Tesla by 40.1% in the 4th quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer's stock worth $13,997,660,000 after purchasing an additional 9,920,325 shares during the period. Finally, Northern Trust Corp grew its holdings 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 valued at $11,541,592,000 after purchasing an additional 5,075,418 shares during the period. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Tesla Stock Performance

TSLA traded down $21.47 during trading on Monday, hitting $293.88. The company's stock had a trading volume of 75,725,530 shares, compared to its average volume of 100,834,908. The firm has a market cap of $946.58 billion, a PE ratio of 161.48, a P/E/G ratio of 9.17 and a beta of 2.39. 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 business's 50 day simple moving average is $320.93 and its 200-day simple moving average is $324.35. Tesla, Inc. has a one year low of $182.00 and a one year high of $488.54.

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 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 for the quarter, compared to analysts' expectations of $22.93 billion. During the same period in the prior year, the firm earned $0.45 EPS. As a group, sell-side analysts predict that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Baird R W lowered Tesla from a "strong-buy" rating to a "hold" rating in a report on Monday, June 9th. Deutsche Bank Aktiengesellschaft dropped their price objective on Tesla from $420.00 to $345.00 and set a "buy" rating on the stock in a report on Friday, March 28th. Wedbush restated an "outperform" rating and issued a $500.00 price objective on shares of Tesla in a research report on Tuesday, July 1st. UBS Group set a $290.00 target price on Tesla in a research note on Monday, June 30th. Finally, Truist Financial set a $280.00 price target on Tesla in a research report on Tuesday, April 22nd. Ten analysts have rated the stock with a sell rating, fourteen have issued a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $301.60.

Insider Buying and Selling at Tesla

In related news, CFO Vaibhav Taneja sold 2,564 shares of the business's stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $285.71, for a total value of $732,560.44. Following the sale, the chief financial officer directly owned 5,924 shares in the company, valued at approximately $1,692,546.04. The trade was a 30.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 sale, the senior vice president directly owned 67,600 shares in the company, valued at $21,889,556. The trade was a 18.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 829,509 shares of company stock worth $277,648,925. Insiders own 20.70% of the company's stock.

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.