Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Raleigh Capital Management Inc.

Raleigh Capital Management Inc. lessened its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 49.1% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,563 shares of the electric vehicle producer's stock after selling 2,472 shares during the quarter. Raleigh Capital Management Inc.'s holdings in Tesla were worth $664,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of TSLA. Susquehanna Fundamental Investments LLC acquired a new position in Tesla in the 4th quarter worth about $56,600,000. Means Investment CO. Inc. raised its holdings in Tesla by 37.7% in the 1st quarter. Means Investment CO. Inc. now owns 23,089 shares of the electric vehicle producer's stock worth $5,984,000 after purchasing an additional 6,323 shares during the period. Focus Financial Network Inc. raised its holdings in Tesla by 3.1% in the 1st quarter. Focus Financial Network Inc. now owns 22,467 shares of the electric vehicle producer's stock worth $5,823,000 after purchasing an additional 670 shares during the period. IFM Investors Pty Ltd raised its holdings in Tesla by 8.5% in the 1st quarter. IFM Investors Pty Ltd now owns 586,460 shares of the electric vehicle producer's stock worth $153,436,000 after purchasing an additional 46,087 shares during the period. Finally, Harvard Management Co. Inc. acquired a new position in shares of Tesla during the fourth quarter valued at approximately $8,158,000. Institutional investors and hedge funds own 66.20% of the company's stock.

Tesla Stock Up 2.9%

Shares of NASDAQ TSLA traded up $8.61 during mid-day trading on Tuesday, hitting $302.55. The company had a trading volume of 38,732,329 shares, compared to its average volume of 109,326,172. The company has a market capitalization of $974.50 billion, a PE ratio of 166.33, 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. Tesla, Inc. has a 1-year low of $182.00 and a 1-year high of $488.54. The business's 50-day simple moving average is $321.10 and its 200 day simple moving average is $323.46.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share 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 during the quarter, compared to analyst estimates of $22.93 billion. During the same quarter in the prior year, the business earned $0.45 earnings per share. On average, analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Buying and Selling

In other Tesla news, Director Ira Matthew Ehrenpreis sold 477,572 shares of the firm's stock in a transaction 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 sale, the director directly owned 855,394 shares in the company, valued at $305,632,276.20. This trade represents a 35.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Xiaotong Zhu sold 15,000 shares of the firm's stock in a transaction on Thursday, June 12th. The shares were 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 owned 67,600 shares in the company, valued at approximately $21,889,556. This represents a 18.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 829,509 shares of company stock valued at $277,648,925 over the last 90 days. 20.70% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on TSLA shares. Stifel Nicolaus set a $450.00 target price on Tesla and gave the company a "buy" rating in a report on Thursday, April 24th. William Blair cut Tesla from an "outperform" rating to a "market perform" rating in a report on Monday. Needham & Company LLC reissued a "hold" rating on shares of Tesla in a report on Wednesday, April 23rd. UBS Group set a $290.00 target price on Tesla in a report on Monday, June 30th. Finally, Mizuho reduced their target price on Tesla from $390.00 to $375.00 and set an "outperform" rating for the company in a report on Tuesday. Ten equities research 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. Based on data from MarketBeat, Tesla presently has an average rating of "Hold" and a consensus price target of $301.13.

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.