Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Eagle Bay Advisors LLC

Eagle Bay Advisors LLC lowered its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 18.2% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 23,289 shares of the electric vehicle producer's stock after selling 5,187 shares during the quarter. Tesla comprises 5.1% of Eagle Bay Advisors LLC's portfolio, making the stock its 4th largest position. Eagle Bay Advisors LLC's holdings in Tesla were worth $6,036,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the stock. Eagle Capital Management LLC acquired a new stake in shares of Tesla in the fourth quarter worth about $331,000. Brighton Jones LLC raised its stake in Tesla by 11.8% during the 4th quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer's stock worth $35,509,000 after buying an additional 9,293 shares during the period. Revolve Wealth Partners LLC raised its stake in Tesla by 21.2% during the 4th quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer's stock worth $2,147,000 after buying an additional 931 shares during the period. Mascagni Wealth Management Inc. bought a new position in Tesla during the 4th quarter worth about $346,000. Finally, Highview Capital Management LLC DE bought a new position in Tesla during the 4th quarter worth about $2,367,000. Institutional investors and hedge funds own 66.20% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. UBS Group set a $290.00 price objective on Tesla in a report on Monday, June 30th. William Blair downgraded Tesla from an "outperform" rating to a "market perform" rating in a report on Monday, July 7th. BNP Paribas set a $137.00 target price on Tesla and gave the stock an "underperform" rating in a research report on Wednesday, April 16th. Raymond James Financial lowered Tesla to an "outperform" rating in a research report on Tuesday, April 22nd. Finally, Robert W. Baird reissued a "neutral" rating and issued a $320.00 price objective on shares of Tesla in a research report on Monday, June 9th. Ten analysts have rated the stock with a sell rating, fourteen have given a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $300.19.

Insider Buying and Selling at Tesla

In related news, Director Kimbal Musk sold 91,588 shares of the firm's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $357.39, for a total value of $32,732,635.32. Following the sale, the director owned 1,463,220 shares in the company, valued at approximately $522,940,195.80. This trade represents a 5.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of the firm'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 completion of the sale, the director owned 855,394 shares in the company, valued at $305,632,276.20. This represents a 35.83% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 835,509 shares of company stock valued at $279,420,485. 20.70% of the stock is currently owned by company insiders.

Tesla Stock Up 3.2%

TSLA opened at $329.65 on Friday. The stock has a market cap of $1.06 trillion, a PE ratio of 181.13, a P/E/G ratio of 12.56 and a beta of 2.39. The company has a quick ratio of 1.54, a current ratio of 2.00 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a 52 week low of $182.00 and a 52 week high of $488.54. The business's fifty day simple moving average is $326.27 and its 200 day simple moving average is $316.70.

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

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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