Atreides Management LP Decreases Stake in Tesla, Inc. $TSLA

Key Points

• Atreides Management LP has reduced its stake in Tesla by 36.7%, now holding 195,542 shares valued at approximately $50.7 million.
• Several other investors, including Eagle Capital Management and Brighton Jones LLC, have either bought or increased their holdings in Tesla during the fourth quarter, reflecting ongoing interest in the stock.
• Tesla's recent quarterly earnings report showed $0.40 earnings per share, missing analyst estimates, and a revenue decline of 11.8% year-over-year.

Atreides Management LP cut its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 36.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 195,542 shares of the electric vehicle producer's stock after selling 113,153 shares during the period. Tesla makes up 1.5% of Atreides Management LP's portfolio, making the stock its 19th biggest position. Atreides Management LP's holdings in Tesla were worth $50,677,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Eagle Capital Management LLC purchased a new stake in Tesla in the fourth quarter worth approximately $331,000. Brighton Jones LLC lifted its holdings in shares of Tesla by 11.8% during the 4th quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer's stock valued at $35,509,000 after buying an additional 9,293 shares during the period. Revolve Wealth Partners LLC boosted its stake in shares of Tesla by 21.2% in the 4th 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 last quarter. Mascagni Wealth Management Inc. bought a new stake in shares of Tesla in the fourth quarter worth $346,000. Finally, Highview Capital Management LLC DE bought a new stake in shares of Tesla in the fourth quarter worth $2,367,000. 66.20% of the stock is currently owned by institutional investors.

Insider Activity at Tesla

In related news, Director James R. Murdoch sold 120,000 shares of the firm's stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $350.29, for a total value of $42,034,800.00. Following the completion of the transaction, the director directly owned 697,031 shares of the company's stock, valued at approximately $244,162,988.99. This trade represents a 14.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Vaibhav Taneja sold 4,000 shares of the business's stock in a transaction on 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 completion of the sale, the chief financial officer owned 5,924 shares in the company, valued at $1,735,080.36. This represents a 40.31% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 143,564 shares of company stock valued at $49,396,070. Insiders own 20.70% of the company's stock.

Tesla Price Performance

TSLA stock opened at $333.87 on Tuesday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04. The company's fifty day moving average price is $323.29 and its 200-day moving average price is $302.39. Tesla, Inc. has a one year low of $205.97 and a one year high of $488.54. The company has a market capitalization of $1.08 trillion, a PE ratio of 192.99, a price-to-earnings-growth ratio of 11.61 and a beta of 2.06.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (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 company had revenue of $22.50 billion during the quarter, compared to the consensus estimate of $23.18 billion. During the same quarter in the prior year, the firm posted $0.52 earnings per share. The business's revenue was down 11.8% on a year-over-year basis. On average, equities analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on TSLA. Benchmark reissued a "buy" rating and issued a $475.00 target price (up from $350.00) on shares of Tesla in a research report on Thursday, June 26th. Baird R W cut shares of Tesla from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 9th. HSBC restated a "reduce" rating and issued a $120.00 price objective on shares of Tesla in a research note on Thursday, July 3rd. UBS Group set a $290.00 target price on Tesla in a research report on Monday, June 30th. Finally, China Renaissance reissued a "hold" rating and set a $349.00 price target on shares of Tesla in a report on Friday, July 25th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, fifteen have given a Hold rating and nine have issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $303.31.

Tesla Company 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.

Want to see what other hedge funds are holding TSLA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tesla, Inc. (NASDAQ:TSLA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.