Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Lifelong Wealth Advisors Inc.

Lifelong Wealth Advisors Inc. lessened its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 71.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,444 shares of the electric vehicle producer's stock after selling 3,641 shares during the quarter. Lifelong Wealth Advisors Inc.'s holdings in Tesla were worth $374,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of TSLA. Norges Bank acquired a new position in Tesla during the 4th quarter valued at approximately $14,420,248,000. FMR LLC grew its holdings 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 valued at $13,997,660,000 after buying an additional 9,920,325 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Tesla by 27,378.6% in the 1st quarter. GAMMA Investing LLC now owns 9,812,316 shares of the electric vehicle producer's stock valued at $2,542,960,000 after acquiring an additional 9,776,607 shares during the period. Massachusetts Financial Services Co. MA raised its stake in Tesla by 4,963.0% in the 4th 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 acquiring an additional 5,719,466 shares during the last quarter. Finally, Northern Trust Corp lifted its position in Tesla by 21.6% during the 4th quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer's stock worth $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 Price Performance

NASDAQ:TSLA traded down $2.15 during trading hours on Friday, hitting $323.63. 88,778,334 shares of the stock were exchanged, compared to its average volume of 101,831,874. The company has a market cap of $1.04 trillion, a P/E ratio of 177.82, a P/E/G ratio of 12.25 and a beta of 2.47. The firm's fifty day moving average price is $313.28 and its 200 day moving average price is $331.01. Tesla, Inc. has a 52-week low of $182.00 and a 52-week high of $488.54. The company has a current ratio of 2.00, a quick ratio of 1.54 and a debt-to-equity ratio of 0.07.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.26). The firm had revenue of $19.34 billion during the quarter, compared to analyst estimates of $22.93 billion. Tesla had a net margin of 6.66% and a return on equity of 9.02%. During the same period in the prior year, the company posted $0.45 earnings per share. As a group, equities research analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Activity

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 value of $4,857,150.00. Following the completion of the sale, the senior vice president now directly owns 67,600 shares of the company's stock, valued at $21,889,556. This trade represents a 18.16% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 value of $1,000,000.00. Following the transaction, the chief financial officer now owns 26,950 shares in the company, valued at approximately $6,737,500. This represents a 12.92% decrease in their position. The disclosure for this sale can be found here. Insiders sold 833,509 shares of company stock worth $278,648,925 over the last three months. Insiders own 20.70% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Mizuho raised their price objective on Tesla from $325.00 to $390.00 and gave the stock an "outperform" rating in a research note on Friday, May 16th. Cantor Fitzgerald cut their price target on shares of Tesla from $425.00 to $355.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. Needham & Company LLC reissued a "hold" rating on shares of Tesla in a research report on Wednesday, April 23rd. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Tesla from $420.00 to $345.00 and set a "buy" rating on the stock in a report on Friday, March 28th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Tesla from $120.00 to $115.00 and set an "underweight" rating for the company in a research report on Wednesday, April 23rd. Ten investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $298.37.

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.