Sonora Investment Management Group LLC Reduces Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Sonora Investment Management Group LLC cut its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 8.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,035 shares of the electric vehicle producer's stock after selling 852 shares during the quarter. Sonora Investment Management Group LLC's holdings in Tesla were worth $2,342,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in TSLA. Paragon Advisors LLC lifted its stake in Tesla by 0.9% in the first quarter. Paragon Advisors LLC now owns 5,173 shares of the electric vehicle producer's stock valued at $1,341,000 after buying an additional 44 shares during the period. Ameliora Wealth Management Ltd. grew its holdings in shares of Tesla by 19.1% during the first quarter. Ameliora Wealth Management Ltd. now owns 768 shares of the electric vehicle producer's stock valued at $199,000 after buying an additional 123 shares during the last quarter. MADDEN SECURITIES Corp raised its holdings in shares of Tesla by 12.0% in the 1st quarter. MADDEN SECURITIES Corp now owns 12,509 shares of the electric vehicle producer's stock worth $3,242,000 after acquiring an additional 1,344 shares during the last quarter. Attessa Capital LLC lifted its position in Tesla by 16.1% in the 1st quarter. Attessa Capital LLC now owns 3,139 shares of the electric vehicle producer's stock valued at $814,000 after acquiring an additional 436 shares in the last quarter. Finally, Simplicity Wealth LLC boosted its stake in Tesla by 66.6% during the 1st quarter. Simplicity Wealth LLC now owns 30,349 shares of the electric vehicle producer's stock valued at $7,865,000 after purchasing an additional 12,131 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company's stock.

Insider Buying and Selling

In other Tesla news, Director Ira Matthew Ehrenpreis sold 477,572 shares of the company's stock in a transaction that occurred 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 now directly owns 855,394 shares in the company, valued at $305,632,276.20. This represents a 35.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Vaibhav Taneja sold 2,564 shares of the business's stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $285.71, for a total value of $732,560.44. Following the transaction, the chief financial officer now directly owns 5,924 shares in the company, valued at approximately $1,692,546.04. This represents a 30.21% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 818,509 shares of company stock worth $273,791,775. 20.70% of the stock is owned by corporate insiders.

Tesla Stock Performance

Tesla stock traded up $0.34 during mid-day trading on Wednesday, reaching $326.43. 121,649,309 shares of the stock traded hands, compared to its average volume of 100,661,913. The stock has a market capitalization of $1.05 trillion, a PE ratio of 160.02, a price-to-earnings-growth ratio of 5.86 and a beta of 2.47. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. The business's 50-day moving average is $293.86 and its 200-day moving average is $333.15. Tesla, Inc. has a 12-month low of $169.80 and a 12-month high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.26). Tesla had a return on equity of 10.31% and a net margin of 7.26%. The company had revenue of $19.34 billion during the quarter, compared to the consensus estimate of $22.93 billion. During the same period last year, the business earned $0.45 EPS. As a group, sell-side analysts predict that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on TSLA. Benchmark reissued a "buy" rating and issued a $350.00 price target on shares of Tesla in a research report on Wednesday, April 23rd. HSBC reduced their target price on Tesla from $165.00 to $130.00 and set a "reduce" rating for the company in a report on Thursday, March 27th. Needham & Company LLC reiterated a "hold" rating on shares of Tesla in a research note on Wednesday, April 23rd. Wells Fargo & Company reduced their price target on shares of Tesla from $135.00 to $130.00 and set an "underweight" rating for the company in a research report on Friday, March 14th. Finally, TD Cowen raised shares of Tesla from a "hold" rating to a "buy" rating and increased their target price for the company from $180.00 to $388.00 in a research report on Friday, March 7th. Ten analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $293.67.

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.