Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Grimes & Company Inc.

Grimes & Company Inc. lessened its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 19.3% during the 1st quarter, Holdings Channel reports. The institutional investor owned 5,426 shares of the electric vehicle producer’s stock after selling 1,295 shares during the period. Grimes & Company Inc.’s holdings in Tesla were worth $1,406,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TSLA. True Wealth Design LLC increased its holdings in Tesla by 79.5% in the 4th quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer’s stock worth $28,000 after acquiring an additional 31 shares in the last quarter. Horrell Capital Management Inc. raised its position in shares of Tesla by 75.6% during the 4th 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 last quarter. GS Investments Inc. raised its position in shares of Tesla by 193.3% during the 4th quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock worth $36,000 after purchasing an additional 58 shares during the last quarter. Navigoe LLC purchased a new position in Tesla in the 4th quarter valued at about $37,000. Finally, CoreFirst Bank & Trust acquired a new stake in Tesla in the 4th quarter worth about $38,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Analysts Set New Price Targets

TSLA has been the subject of a number of research analyst reports. Canaccord Genuity Group reduced their target price on Tesla from $404.00 to $303.00 and set a “buy” rating for the company in a report on Wednesday, April 23rd. Stifel Nicolaus set a $450.00 price target on Tesla and gave the stock a “buy” rating in a research report on Thursday, April 24th. Raymond James Financial downgraded Tesla to an “outperform” rating in a research note on Tuesday, April 22nd. Royal Bank Of Canada lowered their target price on shares of Tesla from $314.00 to $307.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 23rd. Finally, Cowen raised shares of Tesla from a “hold” rating to a “buy” rating in a report on Thursday, March 6th. Ten research analysts have rated the stock with a sell rating, thirteen have given a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $293.67.

Tesla Stock Down 3.8%

Shares of NASDAQ:TSLA opened at $316.73 on Wednesday. The company has a market capitalization of $1.02 trillion, a price-to-earnings ratio of 174.03, a PEG ratio of 12.36 and a beta of 2.47. Tesla, Inc. has a 12-month low of $179.66 and a 12-month high of $488.54. The business has a 50-day moving average price of $302.42 and a 200 day moving average price of $332.66. 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 (NASDAQ:TSLA) last announced its quarterly earnings results 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 company had revenue of $19.34 billion for the quarter, compared to analyst estimates of $22.93 billion. Tesla had a net margin of 6.66% and a return on equity of 9.02%. During the same quarter in the prior year, the business earned $0.45 earnings per share. Sell-side analysts expect that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Buying and Selling

In other Tesla news, SVP Xiaotong Zhu sold 15,000 shares of Tesla 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 transaction, the senior vice president now directly owns 67,600 shares of the company’s stock, valued at $21,889,556. The trade was a 18.16% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 transaction of $170,636,475.60. Following the sale, the director now directly owns 855,394 shares in the company, valued at $305,632,276.20. This represents a 35.83% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 833,509 shares of company stock valued at $278,648,925. Company insiders own 20.70% of the company’s stock.

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.