Tesla, Inc. (NASDAQ:TSLA) Stock Holdings Trimmed by Balboa Wealth Partners

Balboa Wealth Partners reduced its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 9.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 125,969 shares of the electric vehicle producer's stock after selling 12,892 shares during the quarter. Tesla accounts for about 7.9% of Balboa Wealth Partners' holdings, making the stock its largest holding. Balboa Wealth Partners' holdings in Tesla were worth $32,646,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Cherry Tree Wealth Management LLC boosted its stake in Tesla by 86.3% in the first quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock worth $25,000 after buying an additional 44 shares in the last quarter. First PREMIER Bank lifted its holdings in shares of Tesla by 79.2% in the 1st quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock worth $25,000 after acquiring an additional 42 shares during the last quarter. Newton One Investments LLC boosted its stake in shares of Tesla by 250.0% in the 1st 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 in the last quarter. True Wealth Design LLC grew its holdings in shares of Tesla by 79.5% during the 4th 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. raised its position in Tesla by 75.6% in the 4th 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. 66.20% of the stock is currently owned by institutional investors.

Tesla Stock Down 2.4%

TSLA opened at $340.47 on Wednesday. The stock has a market capitalization of $1.10 trillion, a price-to-earnings ratio of 187.07, a PEG ratio of 13.04 and a beta of 2.47. The firm has a 50 day moving average price of $309.87 and a 200-day moving average price of $331.48. Tesla, Inc. has a twelve month low of $182.00 and a twelve month high of $488.54. 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 earnings results 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). The company had revenue of $19.34 billion for 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 firm posted $0.45 earnings per share. Equities research analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have issued reports on TSLA shares. TD Cowen upgraded shares of Tesla from a "hold" rating to a "buy" rating and upped their price target for the company from $180.00 to $388.00 in a research report on Friday, March 7th. Wells Fargo & Company lowered their target price on Tesla from $135.00 to $130.00 and set an "underweight" rating for the company in a research note on Friday, March 14th. Glj Research restated a "sell" rating and set a $19.05 target price (down from $24.86) on shares of Tesla in a report on Monday, April 21st. 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 note on Wednesday, April 23rd. Finally, Piper Sandler reiterated an "overweight" rating and issued a $400.00 price objective on shares of Tesla in a research report on Tuesday, June 10th. Ten research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $294.58.

Insider Activity at Tesla

In other news, Director Kimbal Musk sold 91,588 shares of the business's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $357.39, for a total transaction of $32,732,635.32. Following the completion of the sale, the director now owns 1,463,220 shares of the company's stock, valued at $522,940,195.80. The trade was a 5.89% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of the firm's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $357.30, for a total value of $170,636,475.60. Following the completion of the transaction, the director now directly owns 855,394 shares in the company, valued at approximately $305,632,276.20. This represents a 35.83% 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 worth $278,648,925. 20.70% of the stock is owned by insiders.

Tesla Company 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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