Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. lowered its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 21.9% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 81,313 shares of the electric vehicle producer’s stock after selling 22,742 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Tesla were worth $21,073,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in TSLA. Newton One Investments LLC raised its holdings in Tesla by 250.0% during the first quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer’s stock worth $27,000 after purchasing an additional 75 shares in the last quarter. True Wealth Design LLC boosted its stake in shares of Tesla by 79.5% in the fourth 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. raised its position in Tesla by 75.6% in the fourth quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock worth $32,000 after acquiring an additional 34 shares in the last quarter. Pflug Koory LLC lifted its holdings in Tesla by 370.4% in the first quarter. Pflug Koory LLC now owns 127 shares of the electric vehicle producer’s stock valued at $33,000 after acquiring an additional 100 shares during the period. Finally, GS Investments Inc. grew its stake in shares of Tesla by 193.3% during the 4th quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock worth $36,000 after purchasing an additional 58 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.

Analysts Set New Price Targets

TSLA has been the topic of several recent analyst reports. JPMorgan Chase & Co. lowered their target price on shares of Tesla from $120.00 to $115.00 and set an “underweight” rating on the stock in a research report on Wednesday, April 23rd. Robert W. Baird restated a “neutral” rating and issued a $320.00 price target on shares of Tesla in a report on Monday, June 9th. Stifel Nicolaus set a $450.00 price objective on Tesla and gave the stock a “buy” rating in a report on Thursday, April 24th. Cowen upgraded Tesla from a “hold” rating to a “buy” rating in a research report on Thursday, March 6th. Finally, Piper Sandler restated an “overweight” rating and issued a $400.00 price target on shares of Tesla in a research report on Tuesday, June 10th. Ten equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have issued 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 target price of $293.67.

Tesla Price Performance

TSLA opened at $322.05 on Thursday. Tesla, Inc. has a 1 year low of $179.66 and a 1 year high of $488.54. The company’s 50 day simple moving average is $303.42 and its 200 day simple moving average is $332.59. The stock has a market capitalization of $1.04 trillion, a PE ratio of 176.95, a P/E/G ratio of 11.88 and a beta of 2.47. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.54 and a current ratio of 2.00.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results 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). Tesla had a net margin of 6.66% and a return on equity of 9.02%. The company had revenue of $19.34 billion during the quarter, compared to analyst estimates of $22.93 billion. During the same quarter last year, the business earned $0.45 EPS. As a group, sell-side analysts expect that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Buying and Selling

In other Tesla news, SVP Xiaotong Zhu sold 15,000 shares of Tesla stock in a transaction that occurred on 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 transaction, the senior vice president now directly owns 67,600 shares of the company’s stock, valued at $21,889,556. The trade was a 18.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction on Monday, April 7th. The stock was sold at an average price of $250.00, for a total transaction 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 $6,737,500. The trade was a 12.92% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 833,509 shares of company stock valued at $278,648,925. 20.70% of the stock is currently owned by company insiders.

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.