Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Sonora Investment Management Group LLC

Sonora Investment Management Group LLC cut its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 8.6% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund 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 filing with the SEC.

A number of other institutional investors also recently bought and sold shares of TSLA. Susquehanna Fundamental Investments LLC purchased a new stake in Tesla in the 4th quarter valued at approximately $56,600,000. Strategic Family Wealth Counselors L.L.C. lifted its position in shares of Tesla by 133.7% in the fourth quarter. Strategic Family Wealth Counselors L.L.C. now owns 2,847 shares of the electric vehicle producer's stock valued at $1,150,000 after acquiring an additional 1,629 shares in the last quarter. Harvard Management Co. Inc. acquired a new stake in shares of Tesla during the fourth quarter valued at $8,158,000. Vontobel Holding Ltd. increased its position in Tesla by 23.0% during the 4th quarter. Vontobel Holding Ltd. now owns 322,300 shares of the electric vehicle producer's stock worth $130,158,000 after purchasing an additional 60,342 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its stake in Tesla by 451.9% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 285,121 shares of the electric vehicle producer's stock valued at $115,143,000 after purchasing an additional 233,460 shares during the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Kimbal Musk sold 91,588 shares of Tesla stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $357.39, for a total transaction of $32,732,635.32. Following the sale, the director now directly owns 1,463,220 shares of the company's stock, valued at approximately $522,940,195.80. The trade was a 5.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $250.00, for a total value 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 $6,737,500. This represents a 12.92% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 818,509 shares of company stock worth $273,791,775. 20.70% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms have issued reports on TSLA. Bank of America decreased their price target on shares of Tesla from $490.00 to $380.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 4th. UBS Group decreased their target price on shares of Tesla from $225.00 to $190.00 and set a "sell" rating on the stock in a research report on Thursday, April 10th. Wells Fargo & Company cut their price target on Tesla from $135.00 to $130.00 and set an "underweight" rating for the company in a report on Friday, March 14th. Cantor Fitzgerald reduced their price target on Tesla from $425.00 to $355.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 23rd. Finally, Mizuho lifted their price objective on Tesla from $325.00 to $390.00 and gave the company an "outperform" rating in a research report on Friday, May 16th. Ten equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $293.67.

Tesla Stock Up 1.9%

Shares of NASDAQ TSLA traded up $6.20 on Friday, hitting $325.31. The company had a trading volume of 128,417,075 shares, compared to its average volume of 100,761,816. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 12-month low of $176.92 and a 12-month high of $488.54. The firm has a market capitalization of $1.05 trillion, a P/E ratio of 159.47, a PEG ratio of 5.86 and a beta of 2.47. The business has a 50 day moving average of $297.32 and a two-hundred day moving average of $332.97.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share for the quarter, missing analysts' consensus estimates of $0.53 by ($0.26). The company had revenue of $19.34 billion during the quarter, compared to analysts' expectations of $22.93 billion. Tesla had a return on equity of 10.31% and a net margin of 7.26%. During the same quarter in the prior year, the company earned $0.45 EPS. As a group, equities research analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

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.