Prepared Retirement Institute LLC Trims Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Prepared Retirement Institute LLC decreased its holdings in Tesla, Inc. (NASDAQ:TSLA) by 4.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,111 shares of the electric vehicle producer’s stock after selling 50 shares during the period. Prepared Retirement Institute LLC’s holdings in Tesla were worth $288,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. Eagle Capital Management LLC purchased a new position in shares of Tesla in the fourth quarter worth $331,000. Brighton Jones LLC increased its stake in shares of Tesla by 11.8% in the fourth quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer’s stock worth $35,509,000 after buying an additional 9,293 shares during the period. Revolve Wealth Partners LLC increased its stake in shares of Tesla by 21.2% in the fourth quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer’s stock worth $2,147,000 after buying an additional 931 shares during the period. Mascagni Wealth Management Inc. purchased a new position in shares of Tesla in the fourth quarter worth $346,000. Finally, Highview Capital Management LLC DE purchased a new position in shares of Tesla in the fourth quarter worth $2,367,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Price Performance

TSLA opened at $313.51 on Monday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.54 and a current ratio of 2.00. The stock has a market capitalization of $1.01 trillion, a P/E ratio of 172.26, a P/E/G ratio of 9.33 and a beta of 2.39. The company’s 50-day simple moving average is $322.60 and its two-hundred day simple moving average is $319.32. Tesla, Inc. has a 52-week low of $182.00 and a 52-week high of $488.54.

Tesla (NASDAQ:TSLA) last posted its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $22.93 billion. During the same quarter in the prior year, the company posted $0.45 EPS. As a group, analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Robert W. Baird reaffirmed a “neutral” rating and issued a $320.00 target price on shares of Tesla in a research note on Monday, June 9th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Tesla from $420.00 to $345.00 and set a “buy” rating on the stock in a research note on Friday, March 28th. BNP Paribas set a $137.00 price objective on shares of Tesla and gave the company an “underperform” rating in a research report on Wednesday, April 16th. Argus reissued a “hold” rating on shares of Tesla in a research report on Monday, June 9th. Finally, Raymond James Financial downgraded shares of Tesla to an “outperform” rating in a research report on Tuesday, April 22nd. Ten equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Tesla currently has an average rating of “Hold” and a consensus price target of $300.19.

Insider Activity

In other Tesla news, Director Kimbal Musk sold 91,588 shares of the stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $357.39, for a total transaction of $32,732,635.32. Following the completion of the sale, the director directly owned 1,463,220 shares of the company’s stock, valued at $522,940,195.80. This trade represents a 5.89% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of the firm’s stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $357.30, for a total transaction of $170,636,475.60. Following the completion of the transaction, the director directly owned 855,394 shares of the company’s stock, valued at approximately $305,632,276.20. This trade represents a 35.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 835,509 shares of company stock valued at $279,420,485. 20.70% of the stock is owned by insiders.

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.