Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. trimmed its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 5.0% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 136,421 shares of the electric vehicle producer's stock after selling 7,131 shares during the period. Tesla makes up about 0.5% of Oppenheimer & Co. Inc.'s holdings, making the stock its 23rd biggest holding. Oppenheimer & Co. Inc.'s holdings in Tesla were worth $35,355,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Tesla during the 4th quarter worth $56,600,000. Means Investment CO. Inc. boosted its position in Tesla by 37.7% during the 1st quarter. Means Investment CO. Inc. now owns 23,089 shares of the electric vehicle producer's stock worth $5,984,000 after purchasing an additional 6,323 shares during the period. Focus Financial Network Inc. boosted its position in Tesla by 3.1% during the 1st quarter. Focus Financial Network Inc. now owns 22,467 shares of the electric vehicle producer's stock worth $5,823,000 after purchasing an additional 670 shares during the period. Strategic Family Wealth Counselors L.L.C. boosted its position in Tesla by 133.7% during the 4th quarter. Strategic Family Wealth Counselors L.L.C. now owns 2,847 shares of the electric vehicle producer's stock worth $1,150,000 after purchasing an additional 1,629 shares during the period. Finally, Harvard Management Co. Inc. purchased a new stake in Tesla during the 4th quarter worth $8,158,000. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Raymond James Financial cut shares of Tesla to an "outperform" rating in a research report on Tuesday, April 22nd. Guggenheim reaffirmed a "sell" rating and set a $175.00 price target on shares of Tesla in a research report on Monday. Mizuho upped their price target on shares of Tesla from $325.00 to $390.00 and gave the stock an "outperform" rating in a research report on Friday, May 16th. Argus reaffirmed a "hold" rating on shares of Tesla in a research report on Monday, June 9th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Tesla in a research report on Wednesday, April 23rd. Ten equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Tesla currently has an average rating of "Hold" and a consensus price target of $294.58.

Tesla Stock Performance

Shares of TSLA stock opened at $348.68 on Tuesday. 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 business has a 50 day moving average of $308.14 and a two-hundred day moving average of $331.42. Tesla, Inc. has a 52 week low of $182.00 and a 52 week high of $488.54. The company has a market cap of $1.12 trillion, a P/E ratio of 191.58, a PEG ratio of 12.05 and a beta of 2.47.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its 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). Tesla had a net margin of 6.66% and a return on equity of 9.02%. The company had revenue of $19.34 billion during the quarter, compared to analyst estimates of $22.93 billion. During the same quarter in the previous year, the firm earned $0.45 earnings per share. As a group, analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Activity

In other news, SVP Xiaotong Zhu sold 15,000 shares of Tesla stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $323.81, for a total transaction of $4,857,150.00. Following the sale, the senior vice president now owns 67,600 shares of the company's stock, valued at approximately $21,889,556. The trade was a 18.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of Tesla stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $357.30, for a total value of $170,636,475.60. Following the sale, the director now directly owns 855,394 shares in the company, valued at approximately $305,632,276.20. This trade represents a 35.83% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 833,509 shares of company stock valued at $278,648,925. Insiders own 20.70% of the company's stock.

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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