OneDigital Investment Advisors LLC Sells 2,203 Shares of Tesla, Inc. (NASDAQ:TSLA)

OneDigital Investment Advisors LLC reduced its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 5.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 35,073 shares of the electric vehicle producer's stock after selling 2,203 shares during the period. OneDigital Investment Advisors LLC's holdings in Tesla were worth $9,090,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Norges Bank bought a new position in Tesla in the 4th quarter valued at approximately $14,420,248,000. FMR LLC increased its position in Tesla by 40.1% in the 4th quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer's stock valued at $13,997,660,000 after acquiring an additional 9,920,325 shares during the period. GAMMA Investing LLC raised its stake in shares of Tesla by 27,378.6% during the first 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 last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Tesla by 4,963.0% during the fourth 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 purchasing an additional 5,719,466 shares during the period. Finally, Northern Trust Corp increased its holdings in Tesla by 21.6% in the fourth quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer's stock valued at $11,541,592,000 after purchasing an additional 5,075,418 shares during the period. 66.20% of the stock is owned by institutional investors.

Insider Activity at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 15,000 shares of the stock in a transaction dated 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 owned 67,600 shares in the company, valued at $21,889,556. This trade represents a 18.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Kimbal Musk sold 91,588 shares of the business'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 transaction of $32,732,635.32. Following the completion of the sale, the director directly owned 1,463,220 shares in the company, valued at approximately $522,940,195.80. This trade represents a 5.89% decrease in their position. 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 90 days. 20.70% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

TSLA has been the topic of a number of analyst reports. TD Cowen upgraded Tesla from a "hold" rating to a "buy" rating and upped their price target for the company from $180.00 to $388.00 in a research report on Friday, March 7th. BNP Paribas set a $137.00 target price on shares of Tesla and gave the company an "underperform" rating in a research report on Wednesday, April 16th. Wedbush reaffirmed an "outperform" rating and issued a $500.00 price objective on shares of Tesla in a research note on Tuesday. Piper Sandler reiterated an "overweight" rating and set a $400.00 price objective on shares of Tesla in a research report on Tuesday, June 10th. Finally, Wells Fargo & Company dropped their target price on shares of Tesla from $135.00 to $130.00 and set an "underweight" rating on the stock in a report on Friday, March 14th. Ten investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Tesla has an average rating of "Hold" and an average target price of $301.24.

Tesla Stock Down 0.7%

TSLA stock traded down $2.09 during trading on Friday, reaching $313.56. The stock had a trading volume of 58,042,302 shares, compared to its average volume of 101,137,163. Tesla, Inc. has a one year low of $182.00 and a one year high of $488.54. The company's 50 day moving average is $320.93 and its two-hundred day moving average is $325.92. The company has a quick ratio of 1.54, a current ratio of 2.00 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $1.01 trillion, a price-to-earnings ratio of 172.29, a P/E/G ratio of 9.17 and a beta of 2.39.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS for the quarter, missing analysts' consensus estimates of $0.53 by ($0.26). The business had revenue of $19.34 billion for the quarter, compared to the consensus estimate of $22.93 billion. Tesla had a return on equity of 9.02% and a net margin of 6.66%. During the same quarter last year, the business posted $0.45 earnings per share. Equities research analysts forecast that Tesla, Inc. will post 2.56 EPS for the current year.

About Tesla

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.