Peterson Wealth Services Sells 15,478 Shares of Tesla, Inc. (NASDAQ:TSLA)

Peterson Wealth Services lowered its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 29.7% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 36,614 shares of the electric vehicle producer's stock after selling 15,478 shares during the quarter. Tesla makes up about 2.9% of Peterson Wealth Services' holdings, making the stock its 7th biggest position. Peterson Wealth Services' holdings in Tesla were worth $9,489,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in TSLA. Susquehanna Fundamental Investments LLC bought a new stake in Tesla during the fourth quarter worth approximately $56,600,000. Means Investment CO. Inc. raised its holdings in Tesla by 37.7% in the first 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. raised its holdings in shares of Tesla by 3.1% during the first quarter. Focus Financial Network Inc. now owns 22,467 shares of the electric vehicle producer's stock worth $5,823,000 after acquiring an additional 670 shares during the period. IFM Investors Pty Ltd increased its stake in Tesla by 8.5% in the 1st quarter. IFM Investors Pty Ltd now owns 586,460 shares of the electric vehicle producer's stock valued at $153,436,000 after buying an additional 46,087 shares during the last quarter. Finally, Harvard Management Co. Inc. bought a new position in shares of Tesla in the 4th quarter valued at about $8,158,000. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Tesla

In other Tesla news, Director Kimbal Musk sold 91,588 shares of Tesla stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $357.39, for a total value of $32,732,635.32. Following the completion of the sale, the director directly owned 1,463,220 shares of the company's stock, valued at approximately $522,940,195.80. The trade was a 5.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Vaibhav Taneja sold 2,000 shares of the company's stock in a transaction dated Tuesday, July 8th. The stock was sold at an average price of $300.00, for a total transaction of $600,000.00. Following the completion of the sale, the chief financial officer directly owned 5,924 shares of the company's stock, valued at $1,777,200. The trade was a 25.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 835,509 shares of company stock worth $279,420,485. Corporate insiders own 20.70% of the company's stock.

Tesla Stock Performance

TSLA traded down $1.16 during trading on Monday, hitting $328.49. 75,292,991 shares of the stock were exchanged, compared to its average volume of 98,837,315. The firm has a market capitalization of $1.06 trillion, a P/E ratio of 178.19, a PEG ratio of 12.56 and a beta of 2.39. 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 stock has a fifty day moving average price of $326.27 and a two-hundred day moving average price of $316.26. Tesla, Inc. has a 1-year low of $182.00 and a 1-year high of $488.54.

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 the consensus estimate of $0.53 by ($0.26). The business had revenue of $19.34 billion during 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 business earned $0.45 EPS. As a group, sell-side analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on TSLA shares. William Blair lowered shares of Tesla from an "outperform" rating to a "market perform" rating in a report on Monday, July 7th. Roth Mkm lowered their price objective on Tesla from $450.00 to $395.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. Robert W. Baird reissued a "neutral" rating and issued a $320.00 price target on shares of Tesla in a research note on Monday, June 9th. Barclays cut their target price on Tesla from $325.00 to $275.00 and set an "equal weight" rating on the stock in a research note on Monday, April 21st. Finally, Argus reaffirmed a "hold" rating on shares of Tesla in a report on Monday, June 9th. Ten investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $298.97.

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.