Tesla, Inc. (NASDAQ:TSLA) Stock Position Decreased by Gradient Capital Advisors LLC

Gradient Capital Advisors LLC decreased its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 20.1% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 19,192 shares of the electric vehicle producer's stock after selling 4,836 shares during the period. Tesla accounts for about 1.6% of Gradient Capital Advisors LLC's holdings, making the stock its 18th largest position. Gradient Capital Advisors LLC's holdings in Tesla were worth $4,974,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in Tesla by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 243,193,181 shares of the electric vehicle producer's stock valued at $98,211,134,000 after buying an additional 3,571,793 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Tesla by 2.8% during the 4th quarter. Geode Capital Management LLC now owns 61,011,604 shares of the electric vehicle producer's stock worth $24,566,217,000 after buying an additional 1,655,203 shares during the period. Norges Bank bought a new position in Tesla in the 4th quarter valued at $14,420,248,000. FMR LLC raised its position in shares of Tesla by 40.1% during the fourth 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 during the last quarter. Finally, Northern Trust Corp increased its holdings in Tesla by 21.6% in the fourth quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer's stock valued at $11,541,592,000 after purchasing an additional 5,075,418 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company's stock.

Tesla Stock Up 2.8%

TSLA stock opened at $328.33 on Friday. The stock has a market cap of $1.06 trillion, a PE ratio of 179.33, a price-to-earnings-growth ratio of 9.80 and a beta of 2.39. The company has a quick ratio of 1.54, a current ratio of 2.00 and a debt-to-equity ratio of 0.07. The firm's 50-day simple moving average is $325.64 and its 200 day simple moving average is $317.81. Tesla, Inc. has a fifty-two week low of $182.00 and a fifty-two week high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.26). Tesla had a net margin of 6.66% and a return on equity of 9.02%. The business had revenue of $19.34 billion for the quarter, compared to the consensus estimate of $22.93 billion. During the same period in the previous year, the business posted $0.45 EPS. As a group, sell-side analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on TSLA. Cfra Research cut Tesla from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, April 22nd. Stifel Nicolaus set a $450.00 price objective on Tesla and gave the company a "buy" rating in a report on Thursday, April 24th. Baird R W cut Tesla from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 9th. Barclays decreased their target price on Tesla from $325.00 to $275.00 and set an "equal weight" rating for the company in a research note on Monday, April 21st. Finally, Cantor Fitzgerald cut their price target on Tesla from $425.00 to $355.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. Ten analysts have rated the stock with a sell rating, fourteen have given a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Tesla has an average rating of "Hold" and a consensus target price of $300.19.

Insider Buying and Selling at Tesla

In other Tesla news, Director Ira Matthew Ehrenpreis sold 477,572 shares of the business's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $357.30, for a total transaction of $170,636,475.60. Following the completion of the sale, the director directly owned 855,394 shares of the company's stock, valued at approximately $305,632,276.20. The trade was a 35.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Vaibhav Taneja sold 2,000 shares of the company's stock in a transaction that occurred on Tuesday, July 8th. The stock was sold at an average price of $300.00, for a total value of $600,000.00. Following the transaction, the chief financial officer directly owned 5,924 shares of the company's stock, valued at approximately $1,777,200. This trade represents a 25.24% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 835,509 shares of company stock worth $279,420,485 over the last three months. 20.70% of the stock is currently owned by corporate 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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