Ballentine Partners LLC Has $7.85 Million Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Ballentine Partners LLC cut its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 19.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 30,283 shares of the electric vehicle producer's stock after selling 7,164 shares during the quarter. Ballentine Partners LLC's holdings in Tesla were worth $7,848,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Norges Bank bought a new position in shares of Tesla in the fourth quarter valued at approximately $14,420,248,000. FMR LLC raised its stake 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 in the last quarter. GAMMA Investing LLC increased its stake in shares of Tesla by 27,378.6% in the first quarter. GAMMA Investing LLC now owns 9,812,316 shares of the electric vehicle producer's stock worth $2,542,960,000 after buying an additional 9,776,607 shares during the period. Massachusetts Financial Services Co. MA increased its stake in shares of Tesla by 4,963.0% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,834,707 shares of the electric vehicle producer's stock worth $2,356,288,000 after buying an additional 5,719,466 shares during the period. Finally, Northern Trust Corp boosted its holdings in Tesla by 21.6% in the fourth 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 in the last quarter. Institutional investors and hedge funds own 66.20% of the company's stock.

Tesla Trading Down 1.9%

TSLA stock traded down $6.12 during trading on Tuesday, reaching $310.78. 77,018,663 shares of the stock traded hands, compared to its average volume of 99,422,055. Tesla, Inc. has a 52-week low of $182.00 and a 52-week high of $488.54. The business's 50 day moving average price is $323.33 and its 200-day moving average price is $318.52. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.00 and a quick ratio of 1.54. The firm has a market capitalization of $1.00 trillion, a PE ratio of 170.76, a P/E/G ratio of 9.33 and a beta of 2.39.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS for the quarter, missing analysts' consensus estimates of $0.53 by ($0.26). Tesla had a net margin of 6.66% and a return on equity of 9.02%. The business had revenue of $19.34 billion during the quarter, compared to analysts' expectations of $22.93 billion. During the same period in the prior year, the company posted $0.45 EPS. As a group, sell-side 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 subject of several research reports. Cantor Fitzgerald reduced their price target on shares of Tesla from $425.00 to $355.00 and set an "overweight" rating for the company in a research report on Wednesday, April 23rd. Morgan Stanley reiterated an "overweight" rating and set a $410.00 target price on shares of Tesla in a research report on Friday, June 6th. HSBC restated a "reduce" rating and issued a $120.00 price target on shares of Tesla in a research report on Thursday, July 3rd. The Goldman Sachs Group reduced their target price on Tesla from $315.00 to $285.00 and set a "neutral" rating on the stock in a research note on Friday. Finally, BNP Paribas set a $137.00 target price on Tesla and gave the stock an "underperform" rating in a research note on Wednesday, April 16th. Ten research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Tesla has a consensus rating of "Hold" and an average price target of $300.19.

Insider Buying and Selling

In other news, Director Kimbal Musk sold 91,588 shares of Tesla stock in a transaction on 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 transaction, the director directly owned 1,463,220 shares in the company, valued at approximately $522,940,195.80. This trade represents a 5.89% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Xiaotong Zhu sold 15,000 shares of Tesla stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $323.81, for a total value of $4,857,150.00. Following the transaction, the senior vice president owned 67,600 shares in the company, valued at approximately $21,889,556. This trade represents a 18.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 835,509 shares of company stock valued at $279,420,485 over the last quarter. Company insiders own 20.70% of the company's stock.

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.