Tesla, Inc. $TSLA Shares Sold by Acadian Asset Management LLC

Key Points

• Acadian Asset Management LLC reduced its stake in Tesla, Inc. by 10.4% during the first quarter, selling 43,398 shares, and now holds 372,285 shares valued at approximately $96.5 million.
• Tesla's quarterly earnings showed earnings per share (EPS) of $0.40, falling short of the expected $0.43, with revenue also down 11.8% from the same quarter last year.
• Insider trading activity included Director James R. Murdoch selling 120,000 shares for about $42 million, representing a 14.69% decrease in his ownership of Tesla stock.

Acadian Asset Management LLC lowered its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 10.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 372,285 shares of the electric vehicle producer's stock after selling 43,398 shares during the quarter. Acadian Asset Management LLC's holdings in Tesla were worth $96,465,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in TSLA. Acorn Wealth Advisors LLC boosted its holdings in shares of Tesla by 1.9% in the first quarter. Acorn Wealth Advisors LLC now owns 1,901 shares of the electric vehicle producer's stock valued at $493,000 after acquiring an additional 36 shares during the period. Solutions 4 Wealth Ltd raised its stake in shares of Tesla by 2.0% during the first quarter. Solutions 4 Wealth Ltd now owns 1,815 shares of the electric vehicle producer's stock worth $470,000 after purchasing an additional 36 shares during the last quarter. Capital Management Associates Inc raised its stake in shares of Tesla by 3.4% during the first quarter. Capital Management Associates Inc now owns 1,166 shares of the electric vehicle producer's stock worth $302,000 after purchasing an additional 38 shares during the last quarter. Graney & King LLC raised its stake in shares of Tesla by 18.4% during the first quarter. Graney & King LLC now owns 245 shares of the electric vehicle producer's stock worth $63,000 after purchasing an additional 38 shares during the last quarter. Finally, Mraz Amerine & Associates Inc. raised its stake in shares of Tesla by 3.8% during the first quarter. Mraz Amerine & Associates Inc. now owns 1,054 shares of the electric vehicle producer's stock worth $278,000 after purchasing an additional 39 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors.

Tesla Trading Up 7.4%

NASDAQ:TSLA traded up $27.13 during mid-day trading on Friday, reaching $395.94. The company's stock had a trading volume of 167,593,971 shares, compared to its average volume of 71,704,616. The company's fifty day simple moving average is $328.89 and its two-hundred day simple moving average is $303.48. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55. Tesla, Inc. has a twelve month low of $212.11 and a twelve month high of $488.54. The stock has a market cap of $1.28 trillion, a P/E ratio of 228.87, a P/E/G ratio of 12.87 and a beta of 2.06.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The electric vehicle producer reported $0.40 EPS for the quarter, missing analysts' consensus estimates of $0.43 by ($0.03). The firm had revenue of $22.50 billion during the quarter, compared to analysts' expectations of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%.The business's revenue for the quarter was down 11.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.52 earnings per share. On average, equities analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Transactions at Tesla

In related news, CFO Vaibhav Taneja sold 4,000 shares of the firm's stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $292.89, for a total transaction of $1,171,560.00. Following the sale, the chief financial officer directly owned 5,924 shares in the company, valued at approximately $1,735,080.36. This trade represents a 40.31% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Xiaotong Zhu sold 20,000 shares of the firm's stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $363.75, for a total value of $7,275,000.00. Following the sale, the senior vice president owned 47,600 shares in the company, valued at approximately $17,314,500. The trade was a 29.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 148,606 shares of company stock worth $51,999,662 in the last three months. 20.70% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

TSLA has been the subject of several analyst reports. Canaccord Genuity Group upped their price target on Tesla from $303.00 to $333.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Piper Sandler restated an "overweight" rating and set a $400.00 price target on shares of Tesla in a research note on Tuesday, June 10th. Daiwa Capital Markets reiterated a "neutral" rating on shares of Tesla in a research report on Sunday, July 27th. Glj Research reiterated a "sell" rating on shares of Tesla in a research report on Thursday, July 24th. Finally, Wedbush reissued an "outperform" rating and issued a $500.00 target price on shares of Tesla in a report on Monday, August 4th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, fourteen have given a Hold rating and nine have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $303.00.

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.