Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Forbes J M & Co. LLP

Forbes J M & Co. LLP cut its holdings in shares of Tesla, Inc. (NASDAQ:TSLAFree Report) by 1.4% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 13,772 shares of the electric vehicle producer’s stock after selling 195 shares during the quarter. Forbes J M & Co. LLP’s holdings in Tesla were worth $2,421,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Stifel Financial Corp increased its position in shares of Tesla by 2.1% in the 3rd quarter. Stifel Financial Corp now owns 395,763 shares of the electric vehicle producer’s stock valued at $99,028,000 after purchasing an additional 8,183 shares during the last quarter. Federated Hermes Inc. increased its position in shares of Tesla by 13.3% in the 3rd quarter. Federated Hermes Inc. now owns 82,508 shares of the electric vehicle producer’s stock valued at $20,645,000 after purchasing an additional 9,676 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its position in shares of Tesla by 10.0% in the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,073 shares of the electric vehicle producer’s stock valued at $1,019,000 after buying an additional 370 shares during the last quarter. Cary Street Partners Investment Advisory LLC grew its position in shares of Tesla by 25.3% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 7,769 shares of the electric vehicle producer’s stock valued at $1,944,000 after buying an additional 1,568 shares during the last quarter. Finally, Personal CFO Solutions LLC grew its position in shares of Tesla by 9.0% in the 3rd quarter. Personal CFO Solutions LLC now owns 9,916 shares of the electric vehicle producer’s stock valued at $2,481,000 after buying an additional 815 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Barclays dropped their target price on shares of Tesla from $225.00 to $180.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 17th. Guggenheim reiterated a “sell” rating and set a $122.00 price target on shares of Tesla in a research note on Tuesday, April 23rd. Bank of America upgraded shares of Tesla from a “neutral” rating to a “buy” rating and set a $220.00 price target for the company in a research note on Wednesday, April 24th. Citigroup restated a “neutral” rating on shares of Tesla in a research note on Wednesday, June 12th. Finally, Jefferies Financial Group reduced their target price on shares of Tesla from $185.00 to $165.00 and set a “hold” rating for the company in a research note on Wednesday, April 10th. Eight analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $183.62.

View Our Latest Research Report on TSLA

Tesla Trading Up 0.8 %

Shares of NASDAQ TSLA traded up $1.44 during midday trading on Friday, reaching $183.01. 63,029,482 shares of the stock were exchanged, compared to its average volume of 63,980,940. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $299.29. The stock has a 50 day moving average price of $173.99 and a 200-day moving average price of $193.40. The company has a market capitalization of $583.66 billion, a P/E ratio of 46.69, a P/E/G ratio of 4.50 and a beta of 2.32. The company has a current ratio of 1.72, a quick ratio of 1.17 and a debt-to-equity ratio of 0.04.

Tesla (NASDAQ:TSLAGet Free Report) last announced its quarterly earnings results on Tuesday, April 23rd. The electric vehicle producer reported $0.35 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.35. The firm had revenue of $21.30 billion for the quarter, compared to analysts’ expectations of $22.15 billion. Tesla had a net margin of 14.37% and a return on equity of 13.18%. Equities research analysts expect that Tesla, Inc. will post 1.87 earnings per share for the current fiscal year.

Insider Transactions at Tesla

In related news, Director Robyn M. Denholm sold 93,705 shares of Tesla stock in a transaction on Monday, May 6th. The shares were sold at an average price of $184.86, for a total value of $17,322,306.30. Following the completion of the sale, the director now owns 15,000 shares in the company, valued at $2,772,900. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Tesla news, SVP Xiaotong Zhu sold 650 shares of the business’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $174.21, for a total transaction of $113,236.50. Following the completion of the sale, the senior vice president now owns 65,155 shares in the company, valued at $11,350,652.55. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Robyn M. Denholm sold 93,705 shares of the business’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $184.86, for a total transaction of $17,322,306.30. Following the sale, the director now owns 15,000 shares of the company’s stock, valued at approximately $2,772,900. The disclosure for this sale can be found here. Over the last three months, insiders have sold 104,855 shares of company stock valued at $19,285,643. Corporate insiders own 25.10% of the company’s stock.

About Tesla

(Free Report)

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.

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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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