Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Global Wealth Strategies & Associates

Global Wealth Strategies & Associates decreased its position in Tesla, Inc. (NASDAQ:TSLA) by 11.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,457 shares of the electric vehicle producer’s stock after selling 190 shares during the quarter. Global Wealth Strategies & Associates’ holdings in Tesla were worth $256,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in Tesla in the fourth quarter valued at approximately $7,844,757,000. International Assets Investment Management LLC increased its stake in Tesla by 25,990.7% in the fourth quarter. International Assets Investment Management LLC now owns 6,202,806 shares of the electric vehicle producer’s stock valued at $1,541,273,000 after purchasing an additional 6,179,032 shares during the last quarter. Vanguard Group Inc. increased its stake in Tesla by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 229,806,372 shares of the electric vehicle producer’s stock valued at $57,102,287,000 after purchasing an additional 3,866,361 shares during the last quarter. Morgan Stanley increased its stake in Tesla by 7.8% in the third quarter. Morgan Stanley now owns 30,160,747 shares of the electric vehicle producer’s stock valued at $7,546,823,000 after purchasing an additional 2,177,397 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its stake in Tesla by 2,101.1% in the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,469,190 shares of the electric vehicle producer’s stock valued at $365,064,000 after purchasing an additional 1,402,443 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insider Buying and Selling

In related news, SVP Xiaotong Zhu sold 650 shares of the business’s stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $174.21, for a total transaction of $113,236.50. Following the transaction, the senior vice president now directly owns 65,155 shares of the company’s stock, valued at approximately $11,350,652.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $176.20, for a total value of $1,850,100.00. Following the transaction, the senior vice president now directly owns 31,230 shares of the company’s stock, valued at approximately $5,502,726. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Xiaotong Zhu sold 650 shares of the company’s stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $174.21, for a total value of $113,236.50. Following the completion of the transaction, the senior vice president now directly owns 65,155 shares in the company, valued at $11,350,652.55. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 104,855 shares of company stock valued at $19,285,643. Corporate insiders own 20.90% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on TSLA. UBS Group dropped their price target on shares of Tesla from $160.00 to $147.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 24th. HSBC lowered their target price on shares of Tesla from $138.00 to $120.00 and set a “reduce” rating on the stock in a research report on Wednesday, April 24th. Morgan Stanley reaffirmed an “overweight” rating and set a $310.00 price target on shares of Tesla in a report on Wednesday, June 12th. Evercore ISI decreased their price target on Tesla from $155.00 to $145.00 and set an “in-line” rating for the company in a report on Monday, April 29th. Finally, Bank of America raised Tesla from a “neutral” rating to a “buy” rating and set a $220.00 price target for the company in a report on Wednesday, April 24th. Eight investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $185.90.

Tesla Stock Down 1.4 %

Shares of NASDAQ:TSLA opened at $184.86 on Wednesday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.17 and a current ratio of 1.72. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $299.29. The stock has a market capitalization of $589.55 billion, a P/E ratio of 47.16, a PEG ratio of 4.65 and a beta of 2.32. The stock has a 50-day simple moving average of $173.35 and a 200-day simple moving average of $194.23.

Tesla (NASDAQ:TSLA) last issued its earnings results on Tuesday, April 23rd. The electric vehicle producer reported $0.35 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.35. Tesla had a return on equity of 13.18% and a net margin of 14.37%. The business had revenue of $21.30 billion during the quarter, compared to analysts’ expectations of $22.15 billion. Equities analysts forecast that Tesla, Inc. will post 1.87 earnings per share for the current year.

About Tesla

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.