Robertson Stephens Wealth Management LLC Sells 746 Shares of Tesla, Inc. (NASDAQ:TSLA)

Robertson Stephens Wealth Management LLC decreased its stake in shares of Tesla, Inc. (NASDAQ:TSLAFree Report) by 5.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,692 shares of the electric vehicle producer’s stock after selling 746 shares during the period. Robertson Stephens Wealth Management LLC’s holdings in Tesla were worth $3,549,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. True Wealth Design LLC boosted its holdings in shares of Tesla by 79.5% during the 4th quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer’s stock valued at $28,000 after buying an additional 31 shares in the last quarter. Horrell Capital Management Inc. lifted its position in Tesla by 75.6% during the 4th quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock valued at $32,000 after acquiring an additional 34 shares during the period. GS Investments Inc. boosted its stake in Tesla by 193.3% during the fourth quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock worth $36,000 after acquiring an additional 58 shares in the last quarter. Navigoe LLC purchased a new stake in Tesla in the fourth quarter worth about $37,000. Finally, CoreFirst Bank & Trust bought a new position in shares of Tesla during the fourth quarter valued at approximately $38,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on TSLA shares. BNP Paribas set a $137.00 price target on Tesla and gave the stock an “underperform” rating in a research note on Wednesday, April 16th. Royal Bank Of Canada cut their target price on Tesla from $314.00 to $307.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 23rd. Canaccord Genuity Group dropped their price target on shares of Tesla from $404.00 to $303.00 and set a “buy” rating on the stock in a research note on Wednesday, April 23rd. TD Cowen upgraded shares of Tesla from a “hold” rating to a “buy” rating and raised their price objective for the company from $180.00 to $388.00 in a research note on Friday, March 7th. Finally, Cfra Research downgraded shares of Tesla from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, April 22nd. Ten research analysts have rated the stock with a sell rating, thirteen have given a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $293.67.

Check Out Our Latest Report on TSLA

Insider Activity at Tesla

In related news, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $250.00, for a total value of $1,000,000.00. Following the completion of the sale, the chief financial officer now directly owns 26,950 shares of the company’s stock, valued at approximately $6,737,500. This represents a 12.92% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Kimbal Musk sold 91,588 shares of Tesla stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $357.39, for a total transaction of $32,732,635.32. Following the transaction, the director now directly owns 1,463,220 shares in the company, valued at $522,940,195.80. This represents a 5.89% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 833,509 shares of company stock worth $278,648,925. Corporate insiders own 20.70% of the company’s stock.

Tesla Stock Performance

TSLA opened at $316.73 on Wednesday. The company’s 50 day moving average is $302.42 and its 200 day moving average is $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. The company has a market cap 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.

Tesla (NASDAQ:TSLAGet Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.26). The business had revenue of $19.34 billion for the quarter, compared to analysts’ expectations of $22.93 billion. Tesla had a return on equity of 9.02% and a net margin of 6.66%. During the same quarter in the prior year, the business earned $0.45 EPS. On average, equities research analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

Tesla Company Profile

(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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