Richard Bernstein Advisors LLC Trims Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Richard Bernstein Advisors LLC reduced its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 5.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 51,516 shares of the electric vehicle producer's stock after selling 3,017 shares during the quarter. Richard Bernstein Advisors LLC's holdings in Tesla were worth $13,351,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new stake in Tesla during the 4th quarter worth approximately $14,420,248,000. FMR LLC boosted its position in Tesla by 40.1% during the 4th quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer's stock worth $13,997,660,000 after buying an additional 9,920,325 shares during the period. GAMMA Investing LLC boosted its position in Tesla by 27,378.6% during the 1st quarter. GAMMA Investing LLC now owns 9,812,316 shares of the electric vehicle producer's stock worth $2,542,960,000 after buying an additional 9,776,607 shares during the period. Massachusetts Financial Services Co. MA boosted its position in Tesla by 4,963.0% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 5,834,707 shares of the electric vehicle producer's stock worth $2,356,288,000 after buying an additional 5,719,466 shares during the period. Finally, Northern Trust Corp boosted its position in Tesla by 21.6% during the 4th quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer's stock worth $11,541,592,000 after buying an additional 5,075,418 shares during the period. 66.20% of the stock is owned by institutional investors.

Insider Activity at Tesla

In other news, Director Kimbal Musk sold 91,588 shares of the firm'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 transaction of $32,732,635.32. Following the completion of the sale, the director owned 1,463,220 shares in the company, valued at $522,940,195.80. This trade represents a 5.89% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Xiaotong Zhu sold 15,000 shares of the firm'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 transaction of $4,857,150.00. Following the sale, the senior vice president owned 67,600 shares of the company's stock, valued at approximately $21,889,556. The trade was a 18.16% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 835,509 shares of company stock worth $279,420,485. 20.70% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms recently commented on TSLA. Wedbush reiterated an "outperform" rating and set a $500.00 target price on shares of Tesla in a research report on Tuesday. The Goldman Sachs Group lifted their target price on shares of Tesla from $285.00 to $315.00 and gave the stock a "neutral" rating in a research report on Thursday, July 3rd. HSBC restated a "reduce" rating and issued a $120.00 price target on shares of Tesla in a research report on Thursday, July 3rd. Cantor Fitzgerald dropped their price target on shares of Tesla from $425.00 to $355.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 23rd. Finally, Stifel Nicolaus set a $450.00 price target on shares of Tesla and gave the stock a "buy" rating in a research report on Thursday, April 24th. Ten equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $301.13.

Tesla Stock Performance

Shares of Tesla stock traded up $13.99 during mid-day trading on Thursday, hitting $309.87. 103,668,453 shares of the stock were exchanged, compared to its average volume of 100,501,186. Tesla, Inc. has a 12 month low of $182.00 and a 12 month high of $488.54. The company has a 50-day simple moving average of $321.49 and a 200 day simple moving average of $323.10. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.54 and a current ratio of 2.00. The company has a market capitalization of $998.08 billion, a P/E ratio of 170.26, a P/E/G ratio of 8.86 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 the consensus estimate of $0.53 by ($0.26). Tesla had a return on equity of 9.02% and a net margin of 6.66%. The company had revenue of $19.34 billion for the quarter, compared to analysts' expectations of $22.93 billion. During the same quarter in the previous year, the business earned $0.45 EPS. Sell-side 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.