Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. trimmed its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 4.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,619,506 shares of the electric vehicle producer's stock after selling 165,095 shares during the period. Principal Financial Group Inc. owned about 0.11% of Tesla worth $938,031,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Cherry Tree Wealth Management LLC increased its position in shares of Tesla by 86.3% during the first 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 shares of Tesla by 79.2% in the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after purchasing an additional 42 shares in the last quarter. Newton One Investments LLC increased its holdings in shares of Tesla by 250.0% in the first quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock valued at $27,000 after purchasing an additional 75 shares during the last quarter. True Wealth Design LLC increased its holdings in shares of Tesla by 79.5% in the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock valued at $28,000 after purchasing an additional 31 shares during the last quarter. Finally, Horrell Capital Management Inc. lifted its position in Tesla by 75.6% during the fourth quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer's stock worth $32,000 after buying an additional 34 shares in the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Argus reaffirmed a "hold" rating on shares of Tesla in a research note on Monday, June 9th. Canaccord Genuity Group restated a "buy" rating and set a $303.00 price objective on shares of Tesla in a research report on Monday. Guggenheim reiterated a "sell" rating and issued a $175.00 target price on shares of Tesla in a report on Monday, June 23rd. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Tesla from $420.00 to $345.00 and set a "buy" rating for the company in a research note on Friday, March 28th. Finally, Glj Research reaffirmed a "sell" rating and set a $19.05 price target (down previously from $24.86) on shares of Tesla in a research report on Monday, April 21st. Ten analysts have rated the stock with a sell rating, thirteen have given a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $301.24.

Insiders Place Their Bets

In other news, SVP Xiaotong Zhu sold 15,000 shares of the business's stock in a transaction dated 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 completion of the transaction, the senior vice president directly owned 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Vaibhav Taneja sold 6,000 shares of the firm's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $341.02, for a total transaction of $2,046,120.00. Following the completion of the sale, the chief financial officer directly owned 1,950 shares in the company, valued at approximately $664,989. This trade represents a 75.47% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 833,509 shares of company stock worth $278,648,925. Corporate insiders own 20.70% of the company's stock.

Tesla Stock Performance

NASDAQ:TSLA opened at $313.56 on Friday. Tesla, Inc. has a 52 week low of $182.00 and a 52 week high of $488.54. The company has a fifty day simple moving average of $320.36 and a two-hundred day simple moving average of $327.07. 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 cap of $1.01 trillion, a price-to-earnings ratio of 172.29, a price-to-earnings-growth ratio of 9.17 and a beta of 2.39.

Tesla (NASDAQ:TSLA - Get Free Report) last released its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (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 analysts' expectations of $22.93 billion. During the same quarter last year, the business posted $0.45 earnings per share. As a group, equities analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Tesla 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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