Tesla, Inc. (NASDAQ:TSLA) Shares Sold by KBC Group NV

KBC Group NV cut its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 42.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 871,449 shares of the electric vehicle producer's stock after selling 650,103 shares during the period. Tesla accounts for 0.7% of KBC Group NV's holdings, making the stock its 23rd largest position. KBC Group NV's holdings in Tesla were worth $225,844,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in TSLA. Cherry Tree Wealth Management LLC boosted its stake in Tesla by 86.3% during the first quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock worth $25,000 after buying an additional 44 shares during the last quarter. First PREMIER Bank boosted its stake in Tesla by 79.2% during the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock worth $25,000 after buying an additional 42 shares during the last quarter. Newton One Investments LLC boosted its stake in Tesla by 250.0% during the first quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock worth $27,000 after buying an additional 75 shares during the last quarter. True Wealth Design LLC boosted its stake in Tesla by 79.5% during the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock worth $28,000 after buying an additional 31 shares during the last quarter. Finally, Horrell Capital Management Inc. boosted its stake in Tesla by 75.6% during the fourth quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer's stock worth $32,000 after buying an additional 34 shares during the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have commented on TSLA. Roth Mkm reduced their target price on Tesla from $450.00 to $395.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. Cantor Fitzgerald cut their price objective on Tesla from $425.00 to $355.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. JPMorgan Chase & Co. cut their price target on Tesla from $120.00 to $115.00 and set an "underweight" rating on the stock in a report on Wednesday, April 23rd. Barclays cut their price target on Tesla from $325.00 to $275.00 and set an "equal weight" rating on the stock in a report on Monday, April 21st. Finally, Truist Financial set a $280.00 price objective on Tesla in a research report on Tuesday, April 22nd. Ten investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Tesla presently has a consensus rating of "Hold" and an average target price of $298.37.

Insider Buying and Selling at Tesla

In related news, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction on Monday, April 7th. The stock was sold at an average price of $250.00, for a total transaction 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. The trade was a 12.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, 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 stock was sold at an average price of $323.81, for a total value of $4,857,150.00. Following the transaction, the senior vice president now directly owns 67,600 shares of the company's stock, valued at approximately $21,889,556. This represents a 18.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 833,509 shares of company stock valued at $278,648,925. Corporate insiders own 20.70% of the company's stock.

Tesla Trading Down 0.7%

NASDAQ:TSLA opened at $323.63 on Monday. Tesla, Inc. has a 1 year low of $182.00 and a 1 year high of $488.54. 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 stock has a fifty day moving average price of $314.93 and a two-hundred day moving average price of $329.21. The stock has a market capitalization of $1.04 trillion, a price-to-earnings ratio of 177.82, a PEG ratio of 12.20 and a beta of 2.47.

Tesla (NASDAQ:TSLA - Get Free Report) last posted 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 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 company earned $0.45 earnings per share. As a group, sell-side analysts anticipate 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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