Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Nvwm LLC

Key Points

• Nvwm LLC has decreased its holdings in Tesla, Inc. by 29.6% during the 1st quarter, selling 2,841 shares, leaving them with 6,760 shares valued at approximately $1.75 million.
• Insider activity has been notable, with Director Kimbal Musk selling over 91,000 shares for more than $32 million, indicating a 5.89% decrease in his ownership.
• Wall Street analysts have mixed ratings for Tesla, with a consensus rating of "Hold" and an average target price of $302.75, while notable price targets range from $280 to $500.

Nvwm LLC decreased its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 29.6% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 6,760 shares of the electric vehicle producer's stock after selling 2,841 shares during the quarter. Nvwm LLC's holdings in Tesla were worth $1,752,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Cherry Tree Wealth Management LLC grew its position in Tesla by 86.3% during the 1st quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock worth $25,000 after purchasing an additional 44 shares in the last quarter. First PREMIER Bank grew its position in Tesla by 79.2% during the 1st quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock worth $25,000 after purchasing an additional 42 shares in the last quarter. Newton One Investments LLC grew its position in Tesla by 250.0% during the 1st quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock worth $27,000 after purchasing an additional 75 shares in the last quarter. Arcadia Investment Management Corp MI purchased a new position in Tesla during the 1st quarter worth approximately $27,000. Finally, True Wealth Design LLC grew its holdings in shares of Tesla by 79.5% during the 4th quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock valued at $28,000 after acquiring an additional 31 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company's stock.

Wall Street Analysts Forecast Growth

TSLA has been the topic of several research analyst reports. Truist Financial set a $280.00 price target on shares of Tesla in a report on Tuesday, April 22nd. Wedbush restated an "outperform" rating and set a $500.00 price target on shares of Tesla in a report on Tuesday. Raymond James Financial cut shares of Tesla to an "outperform" rating in a report on Tuesday, April 22nd. Stifel Nicolaus set a $450.00 price target on shares of Tesla and gave the company a "buy" rating in a report on Thursday, April 24th. Finally, Morgan Stanley restated an "overweight" rating and set a $410.00 price target on shares of Tesla in a report on Friday, June 6th. Ten research analysts have rated the stock with a sell rating, fourteen have given a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $302.75.

Insider Activity at Tesla

In other news, Director Kimbal Musk sold 91,588 shares of the stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $357.39, for a total transaction of $32,732,635.32. Following the completion of the sale, the director owned 1,463,220 shares of the company's stock, valued at $522,940,195.80. This represents a 5.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Xiaotong Zhu sold 15,000 shares of the firm's stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $323.81, for a total transaction of $4,857,150.00. Following the completion of the transaction, the senior vice president directly owned 67,600 shares of the company's stock, valued at approximately $21,889,556. This trade represents a 18.16% decrease in their position. The disclosure for this sale can be found here. Insiders sold 835,509 shares of company stock worth $279,420,485 over the last three months. 20.70% of the stock is currently owned by insiders.

Tesla Price Performance

Shares of TSLA stock opened at $316.06 on Friday. The firm's 50 day moving average is $324.70 and its 200-day moving average is $314.65. Tesla, Inc. has a 1 year low of $182.00 and a 1 year high of $488.54. The firm has a market capitalization of $1.02 trillion, a price-to-earnings ratio of 182.69, a PEG ratio of 11.59 and a beta of 2.39. The company has a current ratio of 2.04, a quick ratio of 1.54 and a debt-to-equity ratio of 0.07.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.03). Tesla had a net margin of 6.54% and a return on equity of 7.98%. The business had revenue of $22.50 billion during the quarter, compared to analyst estimates of $23.18 billion. During the same quarter in the prior year, the company earned $0.52 earnings per share. The company's quarterly revenue was down 11.8% on a year-over-year basis. Sell-side analysts forecast that Tesla, Inc. will post 2.56 EPS 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.