Stokes Family Office LLC Sells 195 Shares of Tesla, Inc. (NASDAQ:TSLA)

Stokes Family Office LLC cut its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 5.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,442 shares of the electric vehicle producer’s stock after selling 195 shares during the quarter. Stokes Family Office LLC’s holdings in Tesla were worth $605,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. grew 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 in the last quarter. Norges Bank acquired a new position in Tesla during the fourth quarter worth $7,844,757,000. Charles Schwab Investment Management Inc. raised its position in Tesla by 3.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 15,155,878 shares of the electric vehicle producer’s stock worth $3,765,933,000 after acquiring an additional 458,804 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its position in shares of Tesla by 12.9% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,849,425 shares of the electric vehicle producer’s stock valued at $1,731,430,000 after acquiring an additional 1,125,329 shares during the period. Finally, American Century Companies Inc. increased its stake in shares of Tesla by 0.3% during the 3rd quarter. American Century Companies Inc. now owns 6,702,634 shares of the electric vehicle producer’s stock worth $1,677,133,000 after purchasing an additional 19,887 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on TSLA. Cantor Fitzgerald reissued an “overweight” rating and set a $230.00 target price on shares of Tesla in a report on Monday, July 1st. UBS Group cut Tesla from a “neutral” rating to a “sell” rating and boosted their price objective for the stock from $147.00 to $197.00 in a report on Friday. Mizuho increased their target price on Tesla from $180.00 to $230.00 and gave the stock a “neutral” rating in a research note on Friday. Oppenheimer restated a “market perform” rating on shares of Tesla in a research note on Tuesday. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a research report on Wednesday, April 24th. Eight research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $201.58.

Insider Activity at Tesla

In other Tesla news, Director Robyn M. Denholm sold 93,705 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $184.86, for a total value of $17,322,306.30. Following the transaction, the director now directly owns 15,000 shares of the company’s stock, valued at $2,772,900. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, SVP Xiaotong Zhu sold 650 shares of the company’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 $11,350,652.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction of $17,322,306.30. Following the completion of the sale, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $2,772,900. The disclosure for this sale can be found here. 25.10% of the stock is owned by corporate insiders.

Tesla Trading Up 3.0 %

TSLA stock traded up $7.20 during trading on Friday, hitting $248.23. The company had a trading volume of 155,698,751 shares, compared to its average volume of 100,049,766. 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, Inc. has a one year low of $138.80 and a one year high of $299.29. The business has a 50-day moving average of $191.41 and a 200-day moving average of $191.76. The stock has a market cap of $791.66 billion, a PE ratio of 63.32, a PEG ratio of 6.58 and a beta of 2.31.

Tesla (NASDAQ:TSLA) last announced its earnings results on Tuesday, April 23rd. The electric vehicle producer reported $0.35 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.35. Tesla had a net margin of 14.37% and a return on equity of 13.18%. The business had revenue of $21.30 billion during the quarter, compared to the consensus estimate of $22.15 billion. Research analysts predict that Tesla, Inc. will post 1.85 earnings per share for the current fiscal year.

Tesla Company 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.