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

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

Several other hedge funds and other institutional investors have also made changes to their positions in TSLA. Cherry Tree Wealth Management LLC lifted its holdings in shares of 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 last quarter. First PREMIER Bank raised its position in Tesla by 79.2% in the 1st quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock worth $25,000 after purchasing an additional 42 shares during the period. Newton One Investments LLC raised its position in Tesla by 250.0% in the 1st quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock worth $27,000 after purchasing an additional 75 shares during the period. True Wealth Design LLC raised its position in Tesla by 79.5% in the 4th quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock worth $28,000 after purchasing an additional 31 shares during the period. Finally, Compass Wealth Management LLC raised its position in Tesla by 360.0% in the 1st quarter. Compass Wealth Management LLC now owns 115 shares of the electric vehicle producer's stock worth $30,000 after purchasing an additional 90 shares during the period. Institutional investors own 66.20% of the company's stock.

Insider Activity

In other news, CFO Vaibhav Taneja sold 2,000 shares of Tesla stock in a transaction on Tuesday, July 8th. The shares were sold at an average price of $300.00, for a total transaction of $600,000.00. Following the completion of the sale, the chief financial officer directly owned 5,924 shares in the company, valued at approximately $1,777,200. The trade was a 25.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of Tesla stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $357.30, for a total transaction of $170,636,475.60. Following the sale, the director owned 855,394 shares of the company's stock, valued at $305,632,276.20. The trade was a 35.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 835,509 shares of company stock valued at $279,420,485 in the last ninety days. 20.70% of the stock is currently owned by insiders.

Tesla Stock Down 0.6%

TSLA traded down $1.93 during trading on Wednesday, hitting $295.88. The stock had a trading volume of 75,143,508 shares, compared to its average volume of 100,488,192. The company has a market capitalization of $953.02 billion, a PE ratio of 162.57, a PEG ratio of 8.86 and a beta of 2.39. Tesla, Inc. has a twelve month low of $182.00 and a twelve month high of $488.54. 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 stock has a 50 day simple moving average of $321.49 and a two-hundred day simple moving average of $323.10.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its 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). The firm had revenue of $19.34 billion during the quarter, compared to analyst estimates of $22.93 billion. Tesla had a net margin of 6.66% and a return on equity of 9.02%. During the same quarter last year, the business earned $0.45 earnings per share. On average, research analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms recently weighed in on TSLA. Glj Research reissued a "sell" rating and issued a $19.05 price objective (down from $24.86) on shares of Tesla in a research report on Monday, April 21st. UBS Group set a $290.00 price objective on shares of Tesla in a research report on Monday, June 30th. Canaccord Genuity Group reissued a "buy" rating and issued a $303.00 price objective on shares of Tesla in a research report on Monday, June 30th. Truist Financial set a $280.00 price objective on shares of Tesla in a research report on Tuesday, April 22nd. Finally, BNP Paribas set a $137.00 target price on shares of Tesla and gave the stock an "underperform" rating in a research report on Wednesday, April 16th. Ten equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Tesla currently has a consensus rating of "Hold" and a consensus target price of $301.13.

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.