Tesla, Inc. $TSLA Shares Sold by Atreides Management LP

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 reduced its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 36.7% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 195,542 shares of the electric vehicle producer's stock after selling 113,153 shares during the period. Tesla comprises 1.5% of Atreides Management LP's investment 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 filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of TSLA. Vanguard Group Inc. boosted its holdings in Tesla by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer's stock worth $63,983,418,000 after buying an additional 3,694,524 shares during the period. Goldman Sachs Group Inc. grew its stake in Tesla by 322.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer's stock valued at $6,891,201,000 after buying an additional 20,291,139 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Tesla by 0.7% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,536,519 shares of the electric vehicle producer's stock valued at $9,908,828,000 after buying an additional 158,697 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Tesla by 4.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 18,174,941 shares of the electric vehicle producer's stock valued at $4,710,218,000 after buying an additional 849,091 shares in the last quarter. Finally, Invesco Ltd. boosted its holdings in Tesla by 17.6% in the 1st quarter. Invesco Ltd. now owns 14,786,414 shares of the electric vehicle producer's stock valued at $3,832,047,000 after purchasing an additional 2,211,300 shares during the period. 66.20% of the stock is owned by institutional investors.

Tesla Stock Performance

TSLA stock traded up $4.73 during trading on Wednesday, reaching $334.09. The company had a trading volume of 88,447,202 shares, compared to its average volume of 71,777,912. The firm has a 50-day simple moving average of $323.20 and a 200-day simple moving average of $302.79. The company has a market cap of $1.08 trillion, a price-to-earnings ratio of 193.12, a price-to-earnings-growth ratio of 11.61 and a beta of 2.06. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04. Tesla, Inc. has a twelve month low of $210.51 and a twelve month high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last released 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). The company had revenue of $22.50 billion during 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 firm's revenue for the quarter was down 11.8% on a year-over-year basis. During the same quarter last year, the business earned $0.52 earnings per share. As a group, sell-side analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Buying and Selling at Tesla

In other Tesla news, Director James R. Murdoch sold 120,000 shares of Tesla stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $350.29, for a total transaction of $42,034,800.00. Following the completion of the sale, the director directly owned 697,031 shares in the company, valued at approximately $244,162,988.99. The trade was a 14.69% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Vaibhav Taneja sold 2,000 shares of Tesla stock in a transaction that occurred on Tuesday, July 8th. The shares were 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. The trade was a 25.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 143,564 shares of company stock worth $49,396,070. Company insiders own 20.70% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on TSLA shares. China Renaissance reaffirmed a "hold" rating and set a $349.00 price objective on shares of Tesla in a report on Friday, July 25th. Argus restated a "hold" rating on shares of Tesla in a research report on Monday, June 9th. Morgan Stanley reiterated an "overweight" rating and set a $410.00 price target on shares of Tesla in a research report on Friday, June 6th. Piper Sandler reissued an "overweight" rating and set a $400.00 price objective on shares of Tesla in a research note on Tuesday, June 10th. Finally, Daiwa Capital Markets reiterated a "neutral" rating on shares of Tesla in a research note on Sunday, July 27th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, fifteen have assigned a Hold rating and nine have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average 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.