Sienna Gestion Sells 3,631 Shares of Tesla, Inc. (NASDAQ:TSLA)

Sienna Gestion reduced its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 36.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,212 shares of the electric vehicle producer's stock after selling 3,631 shares during the quarter. Sienna Gestion's holdings in Tesla were worth $1,565,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Rinkey Investments grew its holdings in shares of Tesla by 3.5% during the 4th quarter. Rinkey Investments now owns 860 shares of the electric vehicle producer's stock valued at $347,000 after purchasing an additional 29 shares during the last quarter. True Wealth Design LLC grew its holdings in shares of Tesla by 79.5% during the 4th quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock valued at $28,000 after purchasing an additional 31 shares during the last quarter. Aldebaran Financial Inc. grew its holdings in shares of Tesla by 3.1% during the 4th quarter. Aldebaran Financial Inc. now owns 1,174 shares of the electric vehicle producer's stock valued at $490,000 after purchasing an additional 35 shares during the last quarter. Acorn Wealth Advisors LLC grew its holdings in shares of Tesla by 1.9% during the 1st quarter. Acorn Wealth Advisors LLC now owns 1,901 shares of the electric vehicle producer's stock valued at $493,000 after purchasing an additional 36 shares during the last quarter. Finally, Solutions 4 Wealth Ltd boosted its position in Tesla by 2.0% during the 1st quarter. Solutions 4 Wealth Ltd now owns 1,815 shares of the electric vehicle producer's stock worth $470,000 after buying an additional 36 shares during the period. 66.20% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Ira Matthew Ehrenpreis sold 477,572 shares of the stock in a transaction dated Tuesday, May 27th. The shares were 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 of the company's stock, valued at approximately $305,632,276.20. This represents a 35.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Vaibhav Taneja sold 2,000 shares of the company's stock in a transaction that occurred on Tuesday, July 8th. The stock was sold at an average price of $300.00, for a total transaction of $600,000.00. Following the completion of the transaction, the chief financial officer owned 5,924 shares in the company, valued at approximately $1,777,200. This trade represents a 25.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 599,724 shares of company stock valued at $213,126,501. Corporate insiders own 20.70% of the company's stock.

Tesla Price Performance

Shares of NASDAQ:TSLA opened at $335.58 on Friday. The company's 50-day moving average is $319.71 and its 200 day moving average is $306.28. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04. The company has a market capitalization of $1.08 trillion, a P/E ratio of 193.98, a price-to-earnings-growth ratio of 11.80 and a beta of 2.33. Tesla, Inc. has a fifty-two week low of $202.59 and a fifty-two week high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share for the quarter, missing analysts' consensus estimates of $0.43 by ($0.03). The company had revenue of $22.50 billion during the quarter, compared to analysts' expectations of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%. Tesla's quarterly revenue was down 11.8% compared to the same quarter last year. During the same period last year, the firm posted $0.52 earnings per share. On average, equities research analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current year.

Wall Street Analysts Forecast Growth

TSLA has been the topic of several recent research reports. Mizuho cut their target price on shares of Tesla from $390.00 to $375.00 and set an "outperform" rating on the stock in a research report on Tuesday, July 8th. China Renaissance reiterated a "hold" rating and set a $349.00 target price on shares of Tesla in a research report on Friday, July 25th. Stifel Nicolaus set a $450.00 target price on shares of Tesla and gave the stock a "buy" rating in a research report on Thursday, April 24th. Daiwa Capital Markets reiterated a "neutral" rating on shares of Tesla in a research report on Sunday, July 27th. Finally, The Goldman Sachs Group cut their target price on shares of Tesla from $315.00 to $285.00 and set a "neutral" rating on the stock in a research report on Friday, July 11th. Ten research analysts have rated the stock with a sell rating, fifteen have given a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $303.31.

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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