AlTi Global Inc. Sells 16,428 Shares of Tesla, Inc. $TSLA

Key Points

• AlTi Global Inc. has reduced its stake in Tesla, Inc. by 33.7%, now owning 32,263 shares valued at $8,361,000 after selling 16,428 shares in the first quarter.
• Despite AlTi's reduction, other institutional investors have increased their positions in Tesla, with notable increases from Graney & King LLC (up 18.4%) and Solutions 4 Wealth Ltd (up 2.0%).
• In its most recent earnings report, Tesla reported a quarterly revenue of $22.50 billion, below analysts' expectations, along with an EPS of $0.40 which missed consensus estimates by $0.03.

AlTi Global Inc. reduced its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 33.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,263 shares of the electric vehicle producer's stock after selling 16,428 shares during the quarter. AlTi Global Inc.'s holdings in Tesla were worth $8,361,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Algorithmic Investment Models LLC acquired a new position in shares of Tesla in the 1st quarter worth approximately $1,102,000. Ancora Advisors LLC boosted its holdings in shares of Tesla by 5.8% in the 1st quarter. Ancora Advisors LLC now owns 7,045 shares of the electric vehicle producer's stock worth $1,826,000 after acquiring an additional 385 shares in the last quarter. Amundi raised its position in Tesla by 29.4% in the 1st quarter. Amundi now owns 16,771,882 shares of the electric vehicle producer's stock worth $4,482,789,000 after purchasing an additional 3,814,610 shares during the last quarter. Aprio Wealth Management LLC lifted its holdings in Tesla by 201.7% during the 1st quarter. Aprio Wealth Management LLC now owns 23,575 shares of the electric vehicle producer's stock worth $6,110,000 after buying an additional 15,762 shares in the last quarter. Finally, 5th Street Advisors LLC lifted its holdings in Tesla by 7.3% during the 1st quarter. 5th Street Advisors LLC now owns 1,054 shares of the electric vehicle producer's stock worth $273,000 after buying an additional 72 shares in the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Needham & Company LLC reaffirmed a "hold" rating on shares of Tesla in a report on Thursday, July 24th. Daiwa Capital Markets reaffirmed a "neutral" rating on shares of Tesla in a report on Sunday, July 27th. Guggenheim reaffirmed a "sell" rating and set a $175.00 price objective on shares of Tesla in a report on Wednesday, July 23rd. Royal Bank Of Canada reaffirmed an "overweight" rating on shares of Tesla in a report on Tuesday, July 29th. Finally, Glj Research reaffirmed a "sell" rating on shares of Tesla in a report on Thursday, July 24th. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, fourteen have issued a Hold rating and nine have given a Sell rating to the stock. According to data from MarketBeat, Tesla presently has an average rating of "Hold" and an average target price of $303.31.

Tesla Trading Up 3.6%

Shares of Tesla stock traded up $12.31 on Friday, hitting $350.84. 108,740,568 shares of the company's stock traded hands, compared to its average volume of 72,012,552. 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 one year low of $210.51 and a one year high of $488.54. The firm's 50-day moving average price is $324.00 and its two-hundred day moving average price is $302.65. The stock has a market capitalization of $1.13 trillion, a PE ratio of 202.80, a price-to-earnings-growth ratio of 11.81 and a beta of 2.06.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The electric vehicle producer reported $0.40 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.03). The business had revenue of $22.50 billion for the quarter, compared to analyst estimates of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%.The business's quarterly revenue was down 11.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.52 EPS. On average, research analysts expect that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Vaibhav Taneja sold 2,000 shares of the firm's stock in a transaction on Tuesday, July 8th. The stock was sold at an average price of $300.00, for a total transaction of $600,000.00. Following the sale, the chief financial officer owned 5,924 shares of the company's stock, valued at approximately $1,777,200. This trade represents a 25.24% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director James R. Murdoch sold 120,000 shares of the firm's stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $350.29, for a total value of $42,034,800.00. Following the sale, the director directly owned 697,031 shares in the company, valued at $244,162,988.99. The trade was a 14.69% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 143,564 shares of company stock valued at $49,396,070. 20.70% of the stock is owned by company 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.