Axiom Investors LLC DE Reduces Position in Tesla, Inc. $TSLA

Key Points

• Axiom Investors LLC DE reduced its position in Tesla by 4.0%, owning 61,877 shares valued at approximately $16 million after selling 2,598 shares in the first quarter.
• Another institutional investor, Goldman Sachs, significantly increased its stake in Tesla by 322.1%, acquiring over 20 million additional shares valued at nearly $6.9 billion.
• Tesla's quarterly earnings report showed an EPS of $0.40, missing the estimated $0.43, with a revenue of $22.5 billion, down 11.8% from the previous year.

Axiom Investors LLC DE reduced its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 4.0% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 61,877 shares of the electric vehicle producer's stock after selling 2,598 shares during the quarter. Axiom Investors LLC DE's holdings in Tesla were worth $16,036,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in TSLA. Goldman Sachs Group Inc. grew its holdings 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. Nuveen LLC purchased a new position in shares of Tesla during the 1st quarter worth $3,247,619,000. GAMMA Investing LLC grew its holdings in shares of Tesla by 27,378.6% during the 1st quarter. GAMMA Investing LLC now owns 9,812,316 shares of the electric vehicle producer's stock worth $2,542,960,000 after purchasing an additional 9,776,607 shares during the period. Amundi grew its holdings in shares of Tesla by 29.4% during 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 period. Finally, Vanguard Group Inc. grew its holdings in shares of Tesla by 1.5% during 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 purchasing an additional 3,694,524 shares during the period. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Tesla Trading Up 3.6%

TSLA opened at $350.84 on Monday. The firm has a market cap of $1.13 trillion, a price-to-earnings ratio of 202.80, a price-to-earnings-growth ratio of 12.24 and a beta of 2.06. Tesla, Inc. has a 52 week low of $210.51 and a 52 week high of $488.54. The business's 50 day moving average is $324.00 and its two-hundred day moving average is $301.88. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings results 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 during the quarter, compared to analyst estimates of $23.18 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. The firm's revenue for the quarter was down 11.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.52 earnings per share. On average, research analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. William Blair restated a "market perform" rating on shares of Tesla in a report on Friday. Guggenheim restated a "sell" rating and set a $175.00 target price on shares of Tesla in a report on Wednesday, July 23rd. Glj Research restated a "sell" rating on shares of Tesla in a report on Thursday, July 24th. Robert W. Baird restated a "neutral" rating and set a $320.00 target price on shares of Tesla in a report on Monday, June 9th. Finally, Stifel Nicolaus set a $440.00 price target on Tesla in a research report on Friday. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, fourteen have assigned a Hold rating and nine have given a Sell rating to the company's stock. According to MarketBeat.com, Tesla presently has a consensus rating of "Hold" and a consensus price target of $303.00.

Insider Buying and Selling

In other news, CFO Vaibhav Taneja sold 2,000 shares of Tesla stock in a transaction that occurred on Tuesday, July 8th. The stock was sold at an average price of $300.00, for a total value of $600,000.00. Following the completion of the transaction, the chief financial officer owned 5,924 shares in the company, valued at approximately $1,777,200. This trade represents a 25.24% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James R. Murdoch sold 120,000 shares of the company'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 transaction, the director owned 697,031 shares of the company's stock, valued at approximately $244,162,988.99. The trade was a 14.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 141,000 shares of company stock valued at $48,663,510 in the last quarter. Company insiders own 20.70% of the company's stock.

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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