Tesla, Inc. (NASDAQ:TSLA) Stock Position Lowered by K.J. Harrison & Partners Inc

K.J. Harrison & Partners Inc trimmed its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 70.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,107 shares of the electric vehicle producer's stock after selling 9,943 shares during the period. K.J. Harrison & Partners Inc's holdings in Tesla were worth $1,064,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. Cherry Tree Wealth Management LLC raised its position in Tesla by 86.3% during the first quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after buying an additional 44 shares during the period. First PREMIER Bank grew its stake in Tesla by 79.2% during the 1st quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after acquiring an additional 42 shares in the last quarter. Newton One Investments LLC increased its holdings 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 during the period. True Wealth Design LLC lifted 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 in the last quarter. Finally, Horrell Capital Management Inc. boosted its holdings in shares of Tesla by 75.6% during 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. 66.20% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

TSLA has been the topic of several research reports. Roth Mkm dropped their price objective on shares of Tesla from $450.00 to $395.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. Glj Research reaffirmed a "sell" rating and issued a $19.05 price target (down from $24.86) on shares of Tesla in a research note on Monday, April 21st. Wedbush reiterated an "outperform" rating and set a $500.00 price objective on shares of Tesla in a report on Friday, June 20th. Canaccord Genuity Group lowered their target price on Tesla from $404.00 to $303.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. Finally, Robert W. Baird reaffirmed a "neutral" rating and set a $320.00 price target on shares of Tesla in a research note on Monday, June 9th. Ten investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $298.37.

Tesla Stock Performance

TSLA opened at $323.63 on Monday. The stock's 50 day simple moving average is $314.93 and its 200-day simple moving average is $329.21. The company has a current ratio of 2.00, a quick ratio of 1.54 and a debt-to-equity ratio of 0.07. The stock has a market cap of $1.04 trillion, a PE ratio of 177.82, a P/E/G ratio of 12.20 and a beta of 2.47. Tesla, Inc. has a 1 year low of $182.00 and a 1 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 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 during the quarter, compared to the consensus estimate of $22.93 billion. During the same period last year, the firm earned $0.45 EPS. Sell-side analysts forecast that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Activity at Tesla

In other news, Director Joseph Gebbia bought 4,000 shares of Tesla stock in a transaction dated Thursday, April 24th. The shares were bought at an average price of $256.31 per share, for a total transaction of $1,025,240.00. Following the purchase, the director now owns 4,111 shares of the company's stock, valued at approximately $1,053,690.41. This trade represents a 3,603.60% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Xiaotong Zhu sold 15,000 shares of the stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $323.81, for a total transaction of $4,857,150.00. Following the sale, the senior vice president now owns 67,600 shares of the company's stock, valued at $21,889,556. This trade represents a 18.16% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 833,509 shares of company stock valued at $278,648,925 over the last quarter. 20.70% of the stock is owned by company insiders.

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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