Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. trimmed its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 7.7% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,925,533 shares of the electric vehicle producer's stock after selling 160,424 shares during the quarter. Tesla makes up approximately 0.5% of Victory Capital Management Inc.'s investment portfolio, making the stock its 21st largest position. Victory Capital Management Inc. owned about 0.06% of Tesla worth $499,021,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in TSLA. Rinkey Investments grew its holdings in Tesla by 3.5% in the 4th quarter. Rinkey Investments now owns 860 shares of the electric vehicle producer's stock valued at $347,000 after buying an additional 29 shares in the last quarter. True Wealth Design LLC lifted its stake in shares of Tesla by 79.5% in 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. Horrell Capital Management Inc. lifted its stake in shares of Tesla by 75.6% in the 4th quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer's stock valued at $32,000 after purchasing an additional 34 shares during the last quarter. Aldebaran Financial Inc. lifted its stake in shares of Tesla by 3.1% in the 4th quarter. Aldebaran Financial Inc. now owns 1,174 shares of the electric vehicle producer's stock valued at $490,000 after purchasing an additional 35 shares during the last quarter. Finally, Acorn Wealth Advisors LLC lifted its stake in shares of Tesla by 1.9% in the 1st quarter. Acorn Wealth Advisors LLC now owns 1,901 shares of the electric vehicle producer's stock valued at $493,000 after purchasing an additional 36 shares during the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on TSLA shares. HSBC reissued a "reduce" rating and set a $120.00 target price on shares of Tesla in a research note on Thursday, July 3rd. Piper Sandler reissued an "overweight" rating and set a $400.00 target price on shares of Tesla in a research note on Tuesday, June 10th. 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 note on Friday, July 11th. Robert W. Baird reissued a "neutral" rating and set a $320.00 target price on shares of Tesla in a research note on Monday, June 9th. Finally, Benchmark reissued a "buy" rating and set a $475.00 target price (up previously from $350.00) on shares of Tesla in a research note on Thursday, June 26th. Ten investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $300.19.

Insider Buying and Selling

In other news, SVP Xiaotong Zhu sold 15,000 shares of Tesla stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $323.81, for a total value of $4,857,150.00. Following the completion of the sale, the senior vice president owned 67,600 shares of the company's stock, valued at $21,889,556. The trade was a 18.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of the business's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $357.30, for a total value of $170,636,475.60. Following the sale, the director directly owned 855,394 shares of the company's stock, valued at approximately $305,632,276.20. This trade represents a 35.83% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 835,509 shares of company stock valued at $279,420,485. Company insiders own 20.70% of the company's stock.

Tesla Price Performance

Shares of TSLA traded up $10.24 during mid-day trading on Friday, hitting $329.65. The company's stock had a trading volume of 93,904,102 shares, compared to its average volume of 98,883,688. 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 firm has a 50-day simple moving average of $326.27 and a 200 day simple moving average of $317.30. The firm has a market capitalization of $1.06 trillion, a P/E ratio of 181.13, a P/E/G ratio of 12.17 and a beta of 2.39. 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 issued its quarterly earnings data 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). The firm had revenue of $19.34 billion for the quarter, compared to analyst estimates of $22.93 billion. Tesla had a return on equity of 9.02% and a net margin of 6.66%. During the same period in the prior year, the firm posted $0.45 earnings per share. Analysts predict 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.