Tesla, Inc. (NASDAQ:TSLA) Position Reduced by Perpetual Ltd

Perpetual Ltd trimmed its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 71.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,130 shares of the electric vehicle producer’s stock after selling 5,217 shares during the quarter. Perpetual Ltd’s holdings in Tesla were worth $374,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. MADDEN SECURITIES Corp boosted its stake in Tesla by 4.6% during the 1st quarter. MADDEN SECURITIES Corp now owns 16,215 shares of the electric vehicle producer’s stock valued at $2,850,000 after acquiring an additional 713 shares during the last quarter. BKA Wealth Consulting Inc. lifted its position in shares of Tesla by 5.3% in the 1st quarter. BKA Wealth Consulting Inc. now owns 1,759 shares of the electric vehicle producer’s stock worth $309,000 after buying an additional 88 shares during the last quarter. Massmutual Trust Co. FSB ADV lifted its position in shares of Tesla by 8.0% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 36,486 shares of the electric vehicle producer’s stock worth $6,414,000 after buying an additional 2,715 shares during the last quarter. Rise Advisors LLC lifted its position in shares of Tesla by 113.3% in the 1st quarter. Rise Advisors LLC now owns 2,726 shares of the electric vehicle producer’s stock worth $479,000 after buying an additional 1,448 shares during the last quarter. Finally, Ferguson Wellman Capital Management Inc. lifted its position in shares of Tesla by 1.1% in the 1st quarter. Ferguson Wellman Capital Management Inc. now owns 23,783 shares of the electric vehicle producer’s stock worth $4,181,000 after buying an additional 258 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on TSLA. Citigroup restated a “neutral” rating on shares of Tesla in a research report on Wednesday, June 12th. UBS Group dropped their price objective on shares of Tesla from $160.00 to $147.00 and set a “neutral” rating on the stock in a report on Wednesday, April 24th. JPMorgan Chase & Co. dropped their price objective on shares of Tesla from $130.00 to $115.00 and set an “underweight” rating on the stock in a report on Wednesday, April 3rd. Bank of America raised shares of Tesla from a “neutral” rating to a “buy” rating and set a $220.00 price objective on the stock in a report on Wednesday, April 24th. Finally, Mizuho dropped their price objective on shares of Tesla from $195.00 to $180.00 and set a “neutral” rating on the stock in a report on Wednesday, April 24th. Eight research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $183.62.

Insider Activity at Tesla

In other news, Director Robyn M. Denholm sold 93,705 shares of Tesla stock in a transaction that occurred 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 transaction, the director now owns 15,000 shares of the company’s stock, valued at $2,772,900. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director Robyn M. Denholm sold 93,705 shares of Tesla stock in a transaction that occurred 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 transaction, the director now owns 15,000 shares of the company’s stock, valued at $2,772,900. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Xiaotong Zhu sold 650 shares of the business’s stock in a transaction 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 in the company, valued at approximately $11,350,652.55. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 104,855 shares of company stock valued at $19,285,643. 25.10% of the stock is currently owned by corporate insiders.

Tesla Stock Performance

TSLA stock opened at $183.01 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.17 and a current ratio of 1.72. The stock has a market cap 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 firm has a 50 day simple moving average of $173.99 and a 200 day simple moving average of $193.71. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $299.29.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Tuesday, April 23rd. The electric vehicle producer reported $0.35 earnings per share for the quarter, meeting the consensus estimate of $0.35. The firm had revenue of $21.30 billion for the quarter, compared to analyst estimates of $22.15 billion. Tesla had a net margin of 14.37% and a return on equity of 13.18%. Research analysts anticipate that Tesla, Inc. will post 1.87 earnings per share for the current fiscal year.

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.