Monterey Private Wealth Inc. lessened its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 7.9% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,301 shares of the electric vehicle producer’s stock after selling 370 shares during the period. Tesla comprises 1.7% of Monterey Private Wealth Inc.’s portfolio, making the stock its 10th largest position. Monterey Private Wealth Inc.’s holdings in Tesla were worth $3,175,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the company. Clearview Wealth Advisors LLC bought a new stake in shares of Tesla during the 4th quarter worth $25,000. Flagship Private Wealth LLC acquired a new stake in shares of Tesla in the fourth quarter worth $26,000. Clear Investment Research LLC acquired a new stake in shares of Tesla in the fourth quarter worth $26,000. Veritas Investment Partners UK Ltd. acquired a new stake in shares of Tesla in the fourth quarter worth $28,000. Finally, Psagot Investment House Ltd. acquired a new stake in shares of Tesla in the fourth quarter worth $28,000. Institutional investors and hedge funds own 41.39% of the company’s stock.

In other Tesla news, CFO Zachary Kirkhorn sold 1,250 shares of the stock in a transaction dated Wednesday, February 17th. The shares were sold at an average price of $778.17, for a total value of $972,712.50. Following the transaction, the chief financial officer now directly owns 55,007 shares of the company’s stock, valued at approximately $42,804,797.19. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Kimbal Musk sold 30,000 shares of the stock in a transaction dated Tuesday, February 9th. The shares were sold at an average price of $852.12, for a total transaction of $25,563,600.00. Following the completion of the transaction, the director now directly owns 621,769 shares in the company, valued at $529,821,800.28. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 145,153 shares of company stock worth $109,617,129. 23.00% of the stock is owned by insiders.

TSLA has been the subject of several recent research reports. Exane BNP Paribas lowered Tesla from a “neutral” rating to an “underperform” rating and set a $340.00 price objective for the company. in a report on Tuesday, January 5th. Royal Bank of Canada upgraded Tesla from an “underperform” rating to a “sector perform” rating in a research note on Thursday, January 7th. Credit Suisse Group reiterated a “neutral” rating and issued a $800.00 price objective on shares of Tesla in a research note on Monday. Edward Jones began coverage on Tesla in a research report on Wednesday, January 13th. They set a “hold” rating on the stock. Finally, Mizuho lifted their target price on Tesla to $820.00 and gave the stock a “buy” rating in a research report on Monday, April 26th. Eleven investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $421.93.

Shares of TSLA stock traded down $23.83 on Tuesday, reaching $661.07. The stock had a trading volume of 569,311 shares, compared to its average volume of 34,665,016. The company has a quick ratio of 1.32, a current ratio of 1.63 and a debt-to-equity ratio of 0.63. The firm’s 50-day moving average is $687.41 and its two-hundred day moving average is $659.28. The firm has a market capitalization of $636.83 billion, a price-to-earnings ratio of 1,375.30, a P/E/G ratio of 8.81 and a beta of 2.18. Tesla, Inc. has a 12 month low of $139.60 and a 12 month high of $900.40.

Tesla (NASDAQ:TSLA) last issued its earnings results on Sunday, April 25th. The electric vehicle producer reported $0.93 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.79 by $0.14. The company had revenue of $10.39 billion for the quarter, compared to analysts’ expectations of $9.89 billion. Tesla had a net margin of 1.97% and a return on equity of 4.93%. Tesla’s quarterly revenue was up 73.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.23 EPS. On average, sell-side analysts forecast that Tesla, Inc. will post 1.02 earnings per share for the current fiscal year.

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.

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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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