Riverbridge Partners LLC Sells 7,399 Shares of Tesla, Inc. (NASDAQ:TSLA)

Riverbridge Partners LLC lessened its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 3.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 205,568 shares of the electric vehicle producer's stock after selling 7,399 shares during the period. Riverbridge Partners LLC's holdings in Tesla were worth $53,275,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. LongView Wealth Management grew its position in shares of Tesla by 3.4% in the 1st quarter. LongView Wealth Management now owns 1,973 shares of the electric vehicle producer's stock valued at $511,000 after buying an additional 64 shares during the last quarter. Retirement Systems of Alabama lifted its stake in shares of Tesla by 6.5% in the 1st quarter. Retirement Systems of Alabama now owns 845,539 shares of the electric vehicle producer's stock valued at $219,130,000 after purchasing an additional 51,973 shares during the period. Means Investment CO. Inc. lifted its stake in shares of Tesla by 37.7% in the 1st quarter. Means Investment CO. Inc. now owns 23,089 shares of the electric vehicle producer's stock valued at $5,984,000 after purchasing an additional 6,323 shares during the period. Walter & Keenan Wealth Management LLC IN ADV lifted its stake in shares of Tesla by 92.0% in the 1st quarter. Walter & Keenan Wealth Management LLC IN ADV now owns 1,217 shares of the electric vehicle producer's stock valued at $315,000 after purchasing an additional 583 shares during the period. Finally, DecisionMap Wealth Management LLC lifted its stake in shares of Tesla by 12.0% in the 1st quarter. DecisionMap Wealth Management LLC now owns 2,947 shares of the electric vehicle producer's stock valued at $764,000 after purchasing an additional 316 shares during the period. Institutional investors own 66.20% of the company's stock.

Analysts Set New Price Targets

TSLA has been the topic of a number of recent analyst reports. 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. Piper Sandler reissued an "overweight" rating and issued a $400.00 price objective on shares of Tesla in a research note on Tuesday, June 10th. 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 research note on Friday, March 28th. Glj Research reaffirmed a "sell" rating and set a $19.05 price target (down from $24.86) on shares of Tesla in a research note on Monday, April 21st. Finally, Truist Financial set a $280.00 price target on Tesla in a research note on Tuesday, April 22nd. Ten equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $293.67.

Insider Buying and Selling at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction on Monday, April 7th. The stock was sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the completion of the transaction, the chief financial officer now directly owns 26,950 shares of the company's stock, valued at approximately $6,737,500. This represents a 12.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robyn M. Denholm sold 112,395 shares of the stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $274.12, for a total value of $30,809,717.40. Following the transaction, the director now directly owns 85,000 shares of the company's stock, valued at approximately $23,300,200. This trade represents a 56.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 833,509 shares of company stock valued at $278,648,925. Company insiders own 20.70% of the company's stock.

Tesla Stock Performance

TSLA stock opened at $322.05 on Friday. The firm has a market cap of $1.04 trillion, a PE ratio of 176.95, a P/E/G ratio of 12.04 and a beta of 2.47. 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 has a 50 day moving average of $304.81 and a 200-day moving average of $332.35. Tesla, Inc. has a 12-month low of $179.66 and a 12-month high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its quarterly earnings data 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 the consensus estimate of $22.93 billion. During the same period last year, the company posted $0.45 earnings per share. As a group, sell-side analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current year.

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.

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