Algert Global LLC Sells 12,484 Shares of Tesla, Inc. $TSLA

Key Points

• Algert Global LLC reduced its Tesla holdings by 44.8%, selling 12,484 shares during the first quarter, leaving it with 15,372 shares valued at approximately $3.98 million.
• Significant insider selling was reported, with Director Kimbal Musk selling 91,588 shares and Director Ira Matthew Ehrenpreis selling 477,572 shares, representing significant decreases in their ownership stakes.
• Tesla's stock has recently experienced a 1.7% decline, and the company reported $0.40 EPS for the last quarter, missing analysts' expectations after posting a year-over-year revenue decline of 11.8%.

Algert Global LLC trimmed its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 44.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,372 shares of the electric vehicle producer's stock after selling 12,484 shares during the quarter. Algert Global LLC's holdings in Tesla were worth $3,984,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Rinkey Investments raised its stake in Tesla by 3.5% during the fourth quarter. Rinkey Investments now owns 860 shares of the electric vehicle producer's stock valued at $347,000 after purchasing an additional 29 shares in the last quarter. True Wealth Design LLC grew its stake in shares of Tesla by 79.5% in the 4th quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock worth $28,000 after buying an additional 31 shares in the last quarter. Aldebaran Financial Inc. increased its holdings in shares of Tesla by 3.1% in the 4th quarter. Aldebaran Financial Inc. now owns 1,174 shares of the electric vehicle producer's stock worth $490,000 after buying an additional 35 shares during the last quarter. Acorn Wealth Advisors LLC raised its position in shares of Tesla by 1.9% during the 1st quarter. Acorn Wealth Advisors LLC now owns 1,901 shares of the electric vehicle producer's stock valued at $493,000 after buying an additional 36 shares in the last quarter. Finally, Solutions 4 Wealth Ltd lifted its holdings in shares of Tesla by 2.0% in the 1st quarter. Solutions 4 Wealth Ltd now owns 1,815 shares of the electric vehicle producer's stock valued at $470,000 after acquiring an additional 36 shares during the last quarter. 66.20% of the stock is owned by institutional investors.

Insider Buying and Selling at Tesla

In other news, Director Kimbal Musk sold 91,588 shares of Tesla stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $357.39, for a total value of $32,732,635.32. Following the transaction, the director directly owned 1,463,220 shares in the company, valued at approximately $522,940,195.80. This trade represents a 5.89% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of the business's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $357.30, for a total value 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. The trade was a 35.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 599,724 shares of company stock worth $213,126,501. 20.70% of the stock is currently owned by corporate insiders.

Tesla Stock Down 1.7%

NASDAQ:TSLA opened at $329.31 on Wednesday. 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 1-year low of $202.59 and a 1-year high of $488.54. The company has a 50-day moving average of $321.01 and a 200 day moving average of $304.26. The firm has a market cap of $1.06 trillion, a PE ratio of 190.35, a price-to-earnings-growth ratio of 11.65 and a beta of 2.33.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its earnings results 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). Tesla had a net margin of 6.54% and a return on equity of 7.98%. The business had revenue of $22.50 billion for the quarter, compared to analysts' expectations of $23.18 billion. During the same period last year, the business posted $0.52 EPS. The company's revenue for the quarter was down 11.8% on a year-over-year basis. As a group, research analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have weighed in on TSLA. Robert W. Baird reissued a "neutral" rating and set a $320.00 price objective on shares of Tesla in a research note on Monday, June 9th. Canaccord Genuity Group lifted their target price on Tesla from $303.00 to $333.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Baird R W downgraded shares of Tesla from a "strong-buy" rating to a "hold" rating in a report on Monday, June 9th. Royal Bank Of Canada reiterated an "overweight" rating on shares of Tesla in a research note on Tuesday, July 29th. Finally, Roth Mkm lowered their price objective on shares of Tesla from $450.00 to $395.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, fifteen have issued a Hold rating and nine have issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $303.31.

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.

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