Private Wealth Partners LLC Sells 2,154 Shares of Tesla, Inc. (NASDAQ:TSLA)

Private Wealth Partners LLC reduced its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 26.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 6,116 shares of the electric vehicle producer's stock after selling 2,154 shares during the quarter. Private Wealth Partners LLC's holdings in Tesla were worth $1,585,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Susquehanna Fundamental Investments LLC acquired a new position in shares of Tesla during the 4th quarter worth about $56,600,000. Means Investment CO. Inc. grew its position in shares of 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 buying an additional 6,323 shares during the period. Focus Financial Network Inc. grew its position in shares of 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 buying an additional 670 shares during the period. Strategic Family Wealth Counselors L.L.C. grew its position in shares of 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 buying an additional 1,629 shares during the period. Finally, Harvard Management Co. Inc. acquired a new position in shares of Tesla during the 4th quarter worth about $8,158,000. 66.20% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on TSLA shares. Wedbush restated an "outperform" rating and set a $500.00 target price on shares of Tesla in a research report on Friday. Wells Fargo & Company decreased their price objective on Tesla from $135.00 to $130.00 and set an "underweight" rating for the company in a research report on Friday, March 14th. 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. Bank of America dropped their price objective on Tesla from $490.00 to $380.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 4th. Finally, Morgan Stanley reiterated an "overweight" rating and set a $410.00 price objective on shares of Tesla in a research note on Friday, June 6th. Ten analysts have rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $293.67.

Tesla Trading Up 0.0%

Shares of TSLA stock traded up $0.11 during mid-day trading on Friday, reaching $322.16. 108,229,033 shares of the stock traded hands, compared to its average volume of 100,998,233. The stock's fifty day simple moving average is $306.22 and its two-hundred day simple moving average is $332.14. Tesla, Inc. has a 1-year low of $180.69 and a 1-year high of $488.54. The company has a market cap of $1.04 trillion, a price-to-earnings ratio of 177.01, a price-to-earnings-growth ratio of 12.04 and a beta of 2.47. The company has a quick ratio of 1.54, a current ratio of 2.00 and a debt-to-equity ratio of 0.07.

Tesla (NASDAQ:TSLA - Get Free Report) last announced 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). Tesla had a net margin of 6.66% and a return on equity of 9.02%. The firm had revenue of $19.34 billion for the quarter, compared to analyst estimates of $22.93 billion. During the same period in the previous year, the business posted $0.45 earnings per share. On average, research analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Buying and Selling

In other Tesla news, SVP Xiaotong Zhu sold 15,000 shares of the company'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 sale, the senior vice president now owns 67,600 shares of the company's stock, valued at approximately $21,889,556. This represents a 18.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Vaibhav Taneja sold 2,564 shares of the business's stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $285.71, for a total value of $732,560.44. Following the completion of the transaction, the chief financial officer now directly owns 5,924 shares in the company, valued at $1,692,546.04. This represents a 30.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 833,509 shares of company stock valued at $278,648,925 over the last ninety days. 20.70% of the stock is owned by company insiders.

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.