Weatherly Asset Management L. P. Sells 5,771 Shares of Tesla, Inc. (NASDAQ:TSLA)

Weatherly Asset Management L. P. decreased its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 38.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,208 shares of the electric vehicle producer's stock after selling 5,771 shares during the period. Weatherly Asset Management L. P.'s holdings in Tesla were worth $2,386,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in TSLA. True Wealth Design LLC increased its position 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 worth $28,000 after purchasing an additional 31 shares during the period. Horrell Capital Management Inc. increased its position in shares of Tesla by 75.6% in the fourth quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer's stock worth $32,000 after purchasing an additional 34 shares during the period. GS Investments Inc. increased its position in shares of Tesla by 193.3% in the fourth quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer's stock worth $36,000 after purchasing an additional 58 shares during the period. Navigoe LLC bought a new position in shares of Tesla in the fourth quarter worth $37,000. Finally, CoreFirst Bank & Trust bought a new position in shares of Tesla in the fourth quarter worth $38,000. Institutional investors own 66.20% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently commented on TSLA. Royal Bank Of Canada decreased their price target on Tesla from $314.00 to $307.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 23rd. Raymond James Financial cut Tesla to an "outperform" rating in a research report on Tuesday, April 22nd. Deutsche Bank Aktiengesellschaft decreased their price target on Tesla from $420.00 to $345.00 and set a "buy" rating on the stock in a research report on Friday, March 28th. Oppenheimer reiterated a "mixed" rating on shares of Tesla in a research report on Tuesday, March 18th. Finally, The Goldman Sachs Group decreased their target price on Tesla from $315.00 to $285.00 and set a "neutral" rating on the stock in a research report on Friday. Ten equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Tesla currently has a consensus rating of "Hold" and a consensus price target of $300.19.

Insider Activity

In related news, CFO Vaibhav Taneja sold 6,000 shares of the stock in a transaction dated Monday, June 2nd. The stock was 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 $664,989. This represents a 75.47% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Robyn M. Denholm sold 112,395 shares of the stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $274.12, for a total value of $30,809,717.40. Following the sale, the director owned 85,000 shares of the company's stock, valued at $23,300,200. This represents a 56.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 835,509 shares of company stock worth $279,420,485. 20.70% of the stock is currently owned by insiders.

Tesla Stock Performance

Shares of NASDAQ TSLA traded up $3.64 during trading on Friday, reaching $313.51. 78,861,329 shares of the stock traded hands, compared to its average volume of 99,596,575. Tesla, Inc. has a 52-week low of $182.00 and a 52-week high of $488.54. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.00 and a quick ratio of 1.54. The company has a 50-day moving average of $322.60 and a 200-day moving average of $320.26. The stock has a market capitalization of $1.01 trillion, a P/E ratio of 172.26, a price-to-earnings-growth ratio of 9.33 and a beta of 2.39.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings data 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). The company had revenue of $19.34 billion for the quarter, compared to the consensus estimate of $22.93 billion. Tesla had a net margin of 6.66% and a return on equity of 9.02%. During the same quarter in the previous year, the firm posted $0.45 earnings per share. Analysts forecast that Tesla, Inc. will post 2.56 EPS 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.