Belpointe Asset Management LLC Lowers Stock Holdings in Tesla, Inc. $TSLA

Key Points

• Belpointe Asset Management LLC reduced its holdings in Tesla, Inc. by 28.7%, selling 13,431 shares during the first quarter and now owning 33,382 shares valued at approximately $8.66 million.
• While Belpointe decreased its stake, Goldman Sachs Group Inc. significantly increased its holdings by 322.1%, acquiring an additional 20.29 million shares, bringing its total to about 26.59 million shares valued at $6.89 billion.
• In recent insider trading activity, SVP Xiaotong Zhu and Director James R. Murdoch sold significant amounts of Tesla stock, indicating a trend among insiders as over 143,600 shares were sold in total valued at nearly $49.6 million over the past 90 days.

Belpointe Asset Management LLC cut its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 28.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 33,382 shares of the electric vehicle producer's stock after selling 13,431 shares during the quarter. Belpointe Asset Management LLC's holdings in Tesla were worth $8,659,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. grew its holdings in Tesla by 322.1% in the first 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 purchasing an additional 20,291,139 shares during the period. Nuveen LLC acquired a new position in shares of Tesla in the 1st quarter valued at $3,247,619,000. GAMMA Investing LLC grew its stake 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 valued at $2,542,960,000 after buying an additional 9,776,607 shares during the period. Amundi grew its stake 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 valued at $4,482,789,000 after buying an additional 3,814,610 shares during the period. Finally, Vanguard Group Inc. increased 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 buying an additional 3,694,524 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company's stock.

Insider Activity at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 15,000 shares of the company's stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $323.81, for a total value of $4,857,150.00. Following the transaction, the senior vice president directly owned 67,600 shares of the company's stock, valued at $21,889,556. This represents a 18.16% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director James R. Murdoch sold 120,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $350.29, for a total transaction of $42,034,800.00. Following the sale, the director directly owned 697,031 shares of the company's stock, 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. Over the last 90 days, insiders sold 143,606 shares of company stock valued at $49,581,812. Insiders own 20.70% of the company's stock.

Tesla Price Performance

TSLA opened at $346.97 on Wednesday. Tesla, Inc. has a twelve month low of $212.11 and a twelve month high of $488.54. The firm has a market cap of $1.12 trillion, a price-to-earnings ratio of 200.56, a PEG ratio of 12.08 and a beta of 2.06. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07. The company has a fifty day simple moving average of $325.50 and a 200 day simple moving average of $302.26.

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

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Robert W. Baird reissued a "neutral" rating and set a $320.00 price target on shares of Tesla in a research report on Monday, June 9th. Daiwa Capital Markets reissued a "neutral" rating on shares of Tesla in a research report on Sunday, July 27th. Royal Bank Of Canada reaffirmed an "overweight" rating on shares of Tesla in a research report on Tuesday, July 29th. Benchmark reiterated a "buy" rating and set a $475.00 price objective (up from $350.00) on shares of Tesla in a research note on Thursday, June 26th. Finally, Baird R W downgraded shares of Tesla from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 9th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, fourteen have assigned a Hold rating and nine have given a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $303.00.

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.

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