Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Beacon Pointe Advisors LLC

Beacon Pointe Advisors LLC lessened its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 15.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 59,986 shares of the electric vehicle producer's stock after selling 11,217 shares during the quarter. Beacon Pointe Advisors LLC's holdings in Tesla were worth $24,225,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in Tesla during the fourth quarter worth about $39,000. Public Employees Retirement Association of Colorado lifted its holdings in Tesla by 16.4% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 869,077 shares of the electric vehicle producer's stock worth $350,968,000 after buying an additional 122,502 shares in the last quarter. Quarry LP boosted its position in Tesla by 102.3% in the 4th quarter. Quarry LP now owns 1,394 shares of the electric vehicle producer's stock valued at $563,000 after buying an additional 705 shares during the period. Mission Creek Capital Partners Inc. grew its stake in shares of Tesla by 3.5% in the fourth quarter. Mission Creek Capital Partners Inc. now owns 2,280 shares of the electric vehicle producer's stock worth $921,000 after acquiring an additional 78 shares in the last quarter. Finally, Leslie Global Wealth LLC purchased a new stake in shares of Tesla during the fourth quarter worth $544,000. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Tesla Stock Performance

Tesla stock traded up $11.88 during mid-day trading on Friday, reaching $292.40. 84,155,904 shares of the company were exchanged, compared to its average volume of 95,647,059. The firm has a market cap of $941.81 billion, a PE ratio of 144.05, a price-to-earnings-growth ratio of 5.86 and a beta of 2.58. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. The firm's 50-day simple moving average is $259.13 and its two-hundred day simple moving average is $324.00. Tesla, Inc. has a twelve month low of $167.41 and a twelve month high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share for the quarter, missing analysts' consensus estimates of $0.53 by ($0.26). The firm had revenue of $19.34 billion during the quarter, compared to analysts' expectations of $22.93 billion. Tesla had a net margin of 7.26% and a return on equity of 10.31%. During the same quarter last year, the business earned $0.45 earnings per share. Equities analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Transactions at Tesla

In related news, Director Robyn M. Denholm sold 112,390 shares of Tesla stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $384.04, for a total value of $43,162,255.60. Following the sale, the director now directly owns 85,000 shares in the company, valued at $32,643,400. The trade was a 56.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Vaibhav Taneja sold 7,000 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $383.11, for a total value of $2,681,770.00. Following the completion of the transaction, the chief financial officer now owns 108,965 shares of the company's stock, valued at $41,745,581.15. The trade was a 6.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 486,618 shares of company stock worth $155,887,459 over the last ninety days. 20.70% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

TSLA has been the subject of several analyst reports. Raymond James cut Tesla to an "outperform" rating in a research note on Tuesday, April 22nd. New Street Research raised Tesla from a "neutral" rating to a "buy" rating and set a $460.00 price objective for the company in a research report on Monday, January 6th. Barclays reduced their target price on shares of Tesla from $325.00 to $275.00 and set an "equal weight" rating on the stock in a report on Monday, April 21st. Guggenheim reiterated a "sell" rating and set a $170.00 price target on shares of Tesla in a report on Thursday, April 24th. Finally, UBS Group dropped their price objective on shares of Tesla from $225.00 to $190.00 and set a "sell" rating on the stock in a research report on Thursday, April 10th. Ten investment analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Tesla has a consensus rating of "Hold" and a consensus target price of $287.46.

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.