Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Perigon Wealth Management LLC

Perigon Wealth Management LLC reduced its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 4.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 81,628 shares of the electric vehicle producer’s stock after selling 3,871 shares during the period. Perigon Wealth Management LLC’s holdings in Tesla were worth $21,155,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Cherry Tree Wealth Management LLC grew its position in Tesla by 86.3% in the first quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer’s stock worth $25,000 after buying an additional 44 shares during the last quarter. First PREMIER Bank boosted its stake in shares of Tesla by 79.2% during the 1st quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer’s stock worth $25,000 after acquiring an additional 42 shares in the last quarter. Newton One Investments LLC grew its holdings in shares of Tesla by 250.0% in the 1st quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer’s stock worth $27,000 after acquiring an additional 75 shares during the last quarter. True Wealth Design LLC raised its position in shares of Tesla by 79.5% during the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer’s stock worth $28,000 after purchasing an additional 31 shares during the period. Finally, Horrell Capital Management Inc. lifted its holdings in shares of Tesla by 75.6% during the fourth quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock valued at $32,000 after purchasing an additional 34 shares during the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction dated 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 transaction, the chief financial officer now 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Xiaotong Zhu sold 15,000 shares of the stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $323.81, for a total value of $4,857,150.00. Following the transaction, the senior vice president now directly owns 67,600 shares in the company, valued at approximately $21,889,556. This represents a 18.16% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 833,509 shares of company stock valued at $278,648,925. Insiders own 20.70% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on TSLA. 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. Baird R W cut Tesla from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 9th. Royal Bank Of Canada dropped their price target on Tesla from $314.00 to $307.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 23rd. Bank of America dropped their price target on Tesla from $490.00 to $380.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 4th. Finally, UBS Group lifted their price target on Tesla from $190.00 to $215.00 and gave the stock a “sell” rating in a research note on Monday. Ten investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $294.58.

Tesla Stock Performance

Shares of TSLA stock opened at $327.55 on Thursday. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.00 and a quick ratio of 1.54. Tesla, Inc. has a fifty-two week low of $182.00 and a fifty-two week high of $488.54. The stock’s 50-day moving average is $311.59 and its two-hundred day moving average is $331.45. The firm has a market cap of $1.06 trillion, a P/E ratio of 179.97, a PEG ratio of 12.73 and a beta of 2.47.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.26). The company had revenue of $19.34 billion for the quarter, compared to analyst estimates of $22.93 billion. Tesla had a net margin of 6.66% and a return on equity of 9.02%. During the same period in the prior year, the company posted $0.45 EPS. Analysts predict that Tesla, Inc. will post 2.56 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.