TCI Wealth Advisors Inc. Trims Stock Position in Tesla, Inc. (NASDAQ:TSLA)

TCI Wealth Advisors Inc. decreased its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 15.1% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 5,089 shares of the electric vehicle producer's stock after selling 904 shares during the quarter. TCI Wealth Advisors Inc.'s holdings in Tesla were worth $1,319,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in TSLA. Vanguard Group Inc. grew its stake in Tesla by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 243,193,181 shares of the electric vehicle producer's stock worth $98,211,134,000 after buying an additional 3,571,793 shares during the last quarter. Geode Capital Management LLC lifted its stake in Tesla by 2.8% in the fourth quarter. Geode Capital Management LLC now owns 61,011,604 shares of the electric vehicle producer's stock valued at $24,566,217,000 after buying an additional 1,655,203 shares during the last quarter. Norges Bank acquired a new stake in shares of Tesla in the fourth quarter valued at approximately $14,420,248,000. FMR LLC grew its position in shares of Tesla by 40.1% during the fourth quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer's stock worth $13,997,660,000 after acquiring an additional 9,920,325 shares during the last quarter. Finally, Northern Trust Corp increased its holdings in shares of Tesla by 21.6% in the 4th quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer's stock valued at $11,541,592,000 after acquiring an additional 5,075,418 shares during the period. Hedge funds and other institutional investors own 66.20% of the company's stock.

Tesla Stock Up 1.8%

TSLA opened at $322.05 on Thursday. 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 company has a market cap of $1.04 trillion, a price-to-earnings ratio of 176.95, a PEG ratio of 11.88 and a beta of 2.47. Tesla, Inc. has a one year low of $179.66 and a one year high of $488.54. The business's fifty day moving average is $303.42 and its two-hundred day moving average is $332.59.

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 (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.26). The firm had revenue of $19.34 billion for the quarter, compared to analyst estimates of $22.93 billion. Tesla had a return on equity of 9.02% and a net margin of 6.66%. During the same period last year, the firm earned $0.45 EPS. Analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on TSLA. Raymond James Financial cut shares of Tesla to an "outperform" rating in a research note on Tuesday, April 22nd. Roth Mkm decreased their target price on shares of Tesla from $450.00 to $395.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. Royal Bank Of Canada dropped their price target on Tesla from $314.00 to $307.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 23rd. Stifel Nicolaus set a $450.00 price objective on Tesla and gave the stock a "buy" rating in a research report on Thursday, April 24th. Finally, Morgan Stanley reiterated an "overweight" rating and issued a $410.00 target price on shares of Tesla in a research note on Friday, June 6th. Ten 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 issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $293.67.

Insiders Place Their Bets

In other Tesla news, SVP Xiaotong Zhu sold 15,000 shares of the firm's stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $323.81, for a total transaction of $4,857,150.00. Following the completion of the transaction, the senior vice president now owns 67,600 shares of the company's stock, valued at approximately $21,889,556. This trade represents a 18.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Vaibhav Taneja sold 4,000 shares of the business's stock in a transaction on Monday, April 7th. The stock was 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 approximately $6,737,500. This trade represents a 12.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 833,509 shares of company stock worth $278,648,925. Insiders own 20.70% of the company's stock.

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.

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