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

Victory Capital Management Inc. cut its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 7.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,925,533 shares of the electric vehicle producer's stock after selling 160,424 shares during the period. Tesla makes up 0.5% of Victory Capital Management Inc.'s portfolio, making the stock its 21st biggest position. Victory Capital Management Inc. owned about 0.06% of Tesla worth $499,021,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of TSLA. BIP Wealth LLC boosted its position in Tesla by 1.8% in the first quarter. BIP Wealth LLC now owns 4,573 shares of the electric vehicle producer's stock worth $1,185,000 after purchasing an additional 82 shares during the last quarter. Bridgewater Advisors Inc. purchased a new position in Tesla in the first quarter worth about $3,183,000. Tectonic Advisors LLC raised its stake in shares of Tesla by 23.6% in the first quarter. Tectonic Advisors LLC now owns 786 shares of the electric vehicle producer's stock worth $204,000 after buying an additional 150 shares during the period. Concord Asset Management LLC VA bought a new position in shares of Tesla in the first quarter worth about $1,670,000. Finally, Larson Financial Group LLC raised its stake in shares of Tesla by 81.1% in the first quarter. Larson Financial Group LLC now owns 31,190 shares of the electric vehicle producer's stock worth $8,083,000 after buying an additional 13,968 shares during the period. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Tesla

In other Tesla news, Director Kimbal Musk sold 91,588 shares of the business's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $357.39, for a total transaction of $32,732,635.32. Following the sale, the director owned 1,463,220 shares in the company, valued at approximately $522,940,195.80. The trade was a 5.89% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Xiaotong Zhu sold 15,000 shares of the company's stock in a transaction dated 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 in the company, valued at $21,889,556. The trade was a 18.16% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 835,509 shares of company stock worth $279,420,485 in the last 90 days. 20.70% of the stock is owned by company insiders.

Tesla Stock Up 3.5%

Shares of TSLA traded up $10.89 during trading hours on Wednesday, hitting $321.67. The company had a trading volume of 96,688,793 shares, compared to its average volume of 99,116,733. The company has a market capitalization of $1.04 trillion, a PE ratio of 176.74, a price-to-earnings-growth ratio of 9.43 and a beta of 2.39. The company has a current ratio of 2.00, a quick ratio of 1.54 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a one year low of $182.00 and a one year high of $488.54. The company's fifty day moving average price is $324.04 and its two-hundred day moving average price is $318.47.

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 the consensus estimate of $0.53 by ($0.26). The business had revenue of $19.34 billion for the quarter, compared to analysts' expectations of $22.93 billion. Tesla had a return on equity of 9.02% and a net margin of 6.66%. During the same quarter last year, the firm earned $0.45 earnings per share. As a group, equities analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on TSLA. Needham & Company LLC reaffirmed a "hold" rating on shares of Tesla in a research note on Wednesday, April 23rd. Barclays decreased their target price on Tesla from $325.00 to $275.00 and set an "equal weight" rating on the stock in a research note on Monday, April 21st. Cantor Fitzgerald decreased their target price on Tesla from $425.00 to $355.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 23rd. HSBC reissued a "reduce" rating and set a $120.00 target price on shares of Tesla in a research note on Thursday, July 3rd. 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 research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $300.19.

About Tesla

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.