Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Clay Northam Wealth Management LLC

Clay Northam Wealth Management LLC cut its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 10.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,966 shares of the electric vehicle producer's stock after selling 1,464 shares during the period. Tesla makes up 2.4% of Clay Northam Wealth Management LLC's holdings, making the stock its 13th biggest holding. Clay Northam Wealth Management LLC's holdings in Tesla were worth $3,360,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Aljian Capital Management LLC boosted its position in shares of Tesla by 6.4% during the 1st quarter. Aljian Capital Management LLC now owns 1,043 shares of the electric vehicle producer's stock worth $270,000 after purchasing an additional 63 shares during the period. Convergence Financial LLC lifted its stake in Tesla by 17.3% during the first quarter. Convergence Financial LLC now owns 33,863 shares of the electric vehicle producer's stock worth $8,776,000 after purchasing an additional 4,998 shares in the last quarter. Sicart Associates LLC boosted its position in shares of Tesla by 44.8% during the first quarter. Sicart Associates LLC now owns 37,793 shares of the electric vehicle producer's stock worth $9,794,000 after buying an additional 11,694 shares during the period. Colonial River Investments LLC grew its stake in shares of Tesla by 60.3% in the first quarter. Colonial River Investments LLC now owns 9,824 shares of the electric vehicle producer's stock valued at $2,546,000 after buying an additional 3,695 shares in the last quarter. Finally, Uniting Wealth Partners LLC raised its holdings in shares of Tesla by 71.7% in the 1st quarter. Uniting Wealth Partners LLC now owns 2,167 shares of the electric vehicle producer's stock valued at $562,000 after buying an additional 905 shares during the period. 66.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have weighed in on TSLA shares. TD Cowen raised Tesla from a "hold" rating to a "buy" rating and lifted their target price for the company from $180.00 to $388.00 in a research report on Friday, March 7th. Cantor Fitzgerald dropped their price objective on shares of Tesla from $425.00 to $355.00 and set an "overweight" rating for the company in a report on Wednesday, April 23rd. Glj Research reiterated a "sell" rating and set a $19.05 target price (down from $24.86) on shares of Tesla in a report on Monday, April 21st. Barclays dropped their price target on shares of Tesla from $325.00 to $275.00 and set an "equal weight" rating for the company in a research note on Monday, April 21st. Finally, Wells Fargo & Company reduced their price objective on Tesla from $135.00 to $130.00 and set an "underweight" rating on the stock in a research note on Friday, March 14th. Ten equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $298.37.

Tesla Stock Down 0.7%

Tesla stock opened at $323.63 on Monday. The company has a market capitalization of $1.04 trillion, a P/E ratio of 177.82, a PEG ratio of 12.20 and a beta of 2.47. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.54 and a current ratio of 2.00. Tesla, Inc. has a fifty-two week low of $182.00 and a fifty-two week high of $488.54. The stock has a 50-day simple moving average of $314.93 and a 200-day simple moving average of $329.21.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $19.34 billion during the quarter, compared to analysts' expectations of $22.93 billion. Tesla had a net margin of 6.66% and a return on equity of 9.02%. During the same quarter in the prior year, the firm posted $0.45 EPS. Equities research analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Activity

In other news, SVP Xiaotong Zhu sold 15,000 shares of the company's stock in a transaction that occurred 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 sale, the senior vice president now owns 67,600 shares in the company, valued at $21,889,556. This represents a 18.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Vaibhav Taneja sold 4,000 shares of the 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 sale, the chief financial officer now directly owns 26,950 shares of the company's stock, valued at approximately $6,737,500. This represents a 12.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 833,509 shares of company stock valued at $278,648,925 in the last ninety days. 20.70% of the stock is currently owned by company insiders.

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.

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