Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Western Financial Corp CA

Western Financial Corp CA lessened its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 30.1% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,591 shares of the electric vehicle producer's stock after selling 2,835 shares during the period. Tesla comprises 1.0% of Western Financial Corp CA's investment portfolio, making the stock its 26th biggest holding. Western Financial Corp CA's holdings in Tesla were worth $1,708,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in TSLA. Norges Bank acquired a new position in Tesla during the 4th quarter worth approximately $14,420,248,000. FMR LLC grew its holdings in Tesla by 40.1% during the 4th quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer's stock worth $13,997,660,000 after acquiring an additional 9,920,325 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of Tesla by 27,378.6% in the 1st quarter. GAMMA Investing LLC now owns 9,812,316 shares of the electric vehicle producer's stock valued at $2,542,960,000 after buying an additional 9,776,607 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of Tesla by 4,963.0% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 5,834,707 shares of the electric vehicle producer's stock valued at $2,356,288,000 after buying an additional 5,719,466 shares during the last quarter. Finally, Northern Trust Corp raised its stake in Tesla by 21.6% during the 4th quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer's stock worth $11,541,592,000 after acquiring an additional 5,075,418 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on TSLA shares. Morgan Stanley reaffirmed an "overweight" rating and set a $410.00 price objective on shares of Tesla in a report on Friday, June 6th. Stifel Nicolaus set a $450.00 target price on Tesla and gave the company a "buy" rating in a report on Thursday, April 24th. Deutsche Bank Aktiengesellschaft reduced their target price on Tesla from $420.00 to $345.00 and set a "buy" rating for the company in a report on Friday, March 28th. Truist Financial set a $280.00 target price on Tesla in a report on Tuesday, April 22nd. Finally, Cantor Fitzgerald reduced their target price on Tesla from $425.00 to $355.00 and set an "overweight" rating for the company in a report on Wednesday, April 23rd. Ten analysts have rated the stock with a sell rating, thirteen have given a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Tesla presently has an average rating of "Hold" and a consensus target price of $298.37.

Insider Activity

In other news, SVP Xiaotong Zhu sold 15,000 shares of the stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $323.81, for a total value of $4,857,150.00. Following the completion of the transaction, the senior vice president now owns 67,600 shares in the company, valued at $21,889,556. This trade represents a 18.16% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction dated 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 completion of the transaction, the chief financial officer now owns 26,950 shares of the company's stock, valued at $6,737,500. This represents a 12.92% decrease in their position. The disclosure for this sale can be found here. Insiders sold 833,509 shares of company stock worth $278,648,925 in the last 90 days. 20.70% of the stock is currently owned by corporate insiders.

Tesla Stock Down 0.5%

Shares of Tesla stock opened at $325.78 on Friday. The firm has a fifty day moving average of $313.28 and a two-hundred day moving average of $331.01. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.54 and a current ratio of 2.00. The company has a market cap of $1.05 trillion, a P/E ratio of 179.00, a PEG ratio of 12.25 and a beta of 2.47. Tesla, Inc. has a one year low of $182.00 and a one year high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its quarterly 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). The company had revenue of $19.34 billion during the quarter, compared to analysts' expectations 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 prior year, the business earned $0.45 EPS. On average, analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current 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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