Wealth Alliance Advisory Group LLC Decreases Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Wealth Alliance Advisory Group LLC trimmed its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 81.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,327 shares of the electric vehicle producer's stock after selling 5,989 shares during the quarter. Wealth Alliance Advisory Group LLC's holdings in Tesla were worth $344,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Susquehanna Fundamental Investments LLC acquired a new position in Tesla during the fourth quarter worth about $56,600,000. Stephens Consulting LLC grew its stake in shares of Tesla by 126.7% in the 4th quarter. Stephens Consulting LLC now owns 1,594 shares of the electric vehicle producer's stock worth $644,000 after purchasing an additional 891 shares during the last quarter. Strategic Family Wealth Counselors L.L.C. raised its holdings in shares of Tesla by 133.7% in the 4th quarter. Strategic Family Wealth Counselors L.L.C. now owns 2,847 shares of the electric vehicle producer's stock worth $1,150,000 after purchasing an additional 1,629 shares in the last quarter. Harvard Management Co. Inc. bought a new stake in Tesla during the fourth quarter worth approximately $8,158,000. Finally, Vontobel Holding Ltd. grew its position in Tesla by 23.0% in the fourth quarter. Vontobel Holding Ltd. now owns 322,300 shares of the electric vehicle producer's stock worth $130,158,000 after buying an additional 60,342 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Ira Matthew Ehrenpreis sold 477,572 shares of the stock in a transaction dated 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 transaction, the director now directly owns 855,394 shares of the company's stock, valued at approximately $305,632,276.20. This represents a 35.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James R. Murdoch sold 54,776 shares of Tesla stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the sale, the director now owns 477,011 shares of the company's stock, valued at approximately $114,859,478.69. The trade was a 10.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 870,721 shares of company stock worth $286,248,728 over the last 90 days. 20.70% of the stock is currently owned by corporate insiders.

Tesla Stock Down 14.3%

Shares of TSLA stock traded down $47.37 on Thursday, hitting $284.68. The stock had a trading volume of 286,093,850 shares, compared to its average volume of 99,144,964. Tesla, Inc. has a one year low of $167.41 and a one year high of $488.54. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. The company has a market cap of $916.94 billion, a PE ratio of 139.55, a P/E/G ratio of 5.86 and a beta of 2.47. The business has a 50 day moving average price of $291.12 and a 200 day moving average price of $334.34.

Tesla (NASDAQ:TSLA - Get Free Report) last released 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 return on equity of 10.31% and a net margin of 7.26%. The firm had revenue of $19.34 billion during the quarter, compared to analysts' expectations of $22.93 billion. During the same period in the prior year, the firm posted $0.45 earnings per share. Research analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently commented on TSLA. Bank of America cut their price objective on Tesla from $490.00 to $380.00 and set a "neutral" rating for the company in a research report on Tuesday, March 4th. Royal Bank of Canada cut their price objective on Tesla from $314.00 to $307.00 and set an "outperform" rating on the stock in a report on Wednesday, April 23rd. UBS Group decreased their target price on shares of Tesla from $225.00 to $190.00 and set a "sell" rating for the company in a report on Thursday, April 10th. Wedbush restated an "outperform" rating and set a $500.00 price target (up previously from $350.00) on shares of Tesla in a report on Friday, May 23rd. Finally, Stifel Nicolaus set a $450.00 price objective on shares of Tesla and gave the stock a "buy" rating in a research note on Thursday, April 24th. Ten investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $293.97.

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.