Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Altman Advisors Inc.

Altman Advisors Inc. reduced its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 12.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,114 shares of the electric vehicle producer’s stock after selling 1,275 shares during the period. Tesla accounts for about 1.1% of Altman Advisors Inc.’s holdings, making the stock its 22nd biggest position. Altman Advisors Inc.’s holdings in Tesla were worth $2,572,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently modified their holdings of the company. Susquehanna Fundamental Investments LLC acquired a new position in shares of Tesla during the 4th quarter worth approximately $56,600,000. Means Investment CO. Inc. raised its position in shares of Tesla by 37.7% during the 1st quarter. Means Investment CO. Inc. now owns 23,089 shares of the electric vehicle producer’s stock worth $5,984,000 after purchasing an additional 6,323 shares during the last quarter. Focus Financial Network Inc. raised its position in shares of Tesla by 3.1% during the 1st quarter. Focus Financial Network Inc. now owns 22,467 shares of the electric vehicle producer’s stock worth $5,823,000 after purchasing an additional 670 shares during the last quarter. IFM Investors Pty Ltd raised its position in shares of Tesla by 8.5% during the 1st quarter. IFM Investors Pty Ltd now owns 586,460 shares of the electric vehicle producer’s stock worth $153,436,000 after purchasing an additional 46,087 shares during the last quarter. Finally, Harvard Management Co. Inc. acquired a new position in shares of Tesla during the 4th quarter worth approximately $8,158,000. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on TSLA shares. Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a report on Wednesday, April 23rd. Guggenheim reiterated a “sell” rating and issued a $175.00 price target on shares of Tesla in a report on Tuesday, July 8th. The Goldman Sachs Group cut their price target on Tesla from $315.00 to $285.00 and set a “neutral” rating for the company in a report on Friday, July 11th. Cfra Research downgraded Tesla from a “moderate buy” rating to a “hold” rating in a report on Tuesday, April 22nd. Finally, Wedbush reiterated an “outperform” rating and issued a $500.00 price target on shares of Tesla in a report on Tuesday, July 8th. Ten research 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 stock currently has an average rating of “Hold” and an average price target of $300.19.

Tesla Stock Performance

NASDAQ:TSLA opened at $310.78 on Wednesday. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.00 and a quick ratio of 1.54. The firm has a 50-day moving average of $324.04 and a two-hundred day moving average of $318.47. The stock has a market cap of $1.00 trillion, a P/E ratio of 170.76, a PEG ratio of 9.43 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) 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 6.66% and a return on equity of 9.02%. During the same period in the previous year, the company earned $0.45 earnings per share. On average, research analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Activity at Tesla

In other news, Director Kimbal Musk sold 91,588 shares of the company’s stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $357.39, for a total value 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. This represents a 5.89% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Xiaotong Zhu sold 15,000 shares of the company’s stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $323.81, for a total transaction of $4,857,150.00. Following the completion of the sale, the senior vice president owned 67,600 shares in the company, valued at approximately $21,889,556. This trade represents a 18.16% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 835,509 shares of company stock worth $279,420,485. Company insiders own 20.70% of the company’s stock.

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.