Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Spirepoint Private Client LLC

Spirepoint Private Client LLC lessened its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 31.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,995 shares of the electric vehicle producer's stock after selling 1,383 shares during the quarter. Spirepoint Private Client LLC's holdings in Tesla were worth $776,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Professional Financial Advisors LLC boosted its stake in shares of Tesla by 14.4% during the 1st quarter. Professional Financial Advisors LLC now owns 2,156 shares of the electric vehicle producer's stock worth $559,000 after purchasing an additional 271 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. lifted its stake in shares of Tesla by 486.4% during the first quarter. E Fund Management Hong Kong Co. Ltd. now owns 692 shares of the electric vehicle producer's stock valued at $179,000 after buying an additional 574 shares during the period. Lazari Capital Management Inc. boosted its position in Tesla by 0.5% during the first quarter. Lazari Capital Management Inc. now owns 11,735 shares of the electric vehicle producer's stock worth $3,041,000 after acquiring an additional 57 shares during the last quarter. Capitol Family Office Inc. purchased a new stake in Tesla in the 1st quarter worth approximately $69,000. Finally, Gallagher Capital Advisors LLC raised its holdings in Tesla by 8.8% in the 1st quarter. Gallagher Capital Advisors LLC now owns 1,231 shares of the electric vehicle producer's stock valued at $319,000 after acquiring an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on TSLA. BNP Paribas set a $137.00 price objective on Tesla and gave the company an "underperform" rating in a research report on Wednesday, April 16th. Cantor Fitzgerald lowered their price target on Tesla from $425.00 to $355.00 and set an "overweight" rating for the company in a report on Wednesday, April 23rd. Needham & Company LLC reaffirmed a "hold" rating on shares of Tesla in a research note on Wednesday, April 23rd. Royal Bank Of Canada decreased their target price on shares of Tesla from $314.00 to $307.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 23rd. 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 issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Tesla has an average rating of "Hold" and an average target price of $294.58.

Tesla Price Performance

Shares of TSLA stock opened at $340.47 on Wednesday. The firm has a fifty day simple moving average of $309.87 and a 200-day simple moving average of $331.48. The company has a market capitalization of $1.10 trillion, a PE ratio of 187.07, a price-to-earnings-growth ratio of 13.04 and a beta of 2.47. Tesla, Inc. has a twelve month low of $182.00 and a twelve month high of $488.54. The company has a current ratio of 2.00, a quick ratio of 1.54 and a debt-to-equity ratio of 0.07.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share 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 during the quarter, compared to analysts' expectations of $22.93 billion. During the same period in the previous year, the company earned $0.45 earnings per share. Equities research analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Activity at Tesla

In related news, Director Kimbal Musk sold 91,588 shares of the company's 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 sale, the director now directly owns 1,463,220 shares of the company's stock, valued at $522,940,195.80. This represents a 5.89% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction on Monday, April 7th. The shares were sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the transaction, the chief financial officer now owns 26,950 shares in the company, valued at $6,737,500. This trade represents a 12.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 833,509 shares of company stock valued at $278,648,925. Insiders own 20.70% of the company's stock.

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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