Blair William & Co. IL Reduces Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Key Points

• Blair William & Co. IL reduced its holdings in Tesla, Inc. by 6.7%, selling 18,476 shares and resulting in a remaining ownership of 255,678 shares, valued at $66.26 million.
• Several other investors increased their stakes in Tesla during the same period, including Heritage Trust Co. and Generali Investments, reflecting a trend of institutional investment with 66.20% of the stock now held by institutional investors.
• In recent insider trading, Kimbal Musk sold 91,588 shares for over $32 million, reducing his position by 5.89%, while CFO Vaibhav Taneja sold 2,000 shares worth $600,000, decreasing their stake by 25.24%.

Blair William & Co. IL reduced its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 6.7% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 255,678 shares of the electric vehicle producer's stock after selling 18,476 shares during the period. Blair William & Co. IL's holdings in Tesla were worth $66,262,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of TSLA. Eagle Capital Management LLC bought a new position in shares of Tesla in the fourth quarter valued at $331,000. Brighton Jones LLC grew its stake in shares of Tesla by 11.8% in the fourth 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 in the last quarter. Revolve Wealth Partners LLC boosted its position in Tesla by 21.2% during the fourth quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer's stock worth $2,147,000 after purchasing an additional 931 shares during the period. Mascagni Wealth Management Inc. bought a new position in Tesla during the fourth quarter worth $346,000. Finally, Highview Capital Management LLC DE bought a new position in Tesla during the fourth quarter worth $2,367,000. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

TSLA has been the subject of a number of research analyst reports. Raymond James Financial cut shares of Tesla to an "outperform" rating in a research report on Tuesday, April 22nd. Barclays reduced their target price on shares of Tesla from $325.00 to $275.00 and set an "equal weight" rating for the company in a research report on Monday, April 21st. Needham & Company LLC reissued a "hold" rating on shares of Tesla in a research report on Thursday, July 24th. Roth Mkm reduced their target price on shares of Tesla from $450.00 to $395.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. Finally, Argus reissued a "hold" rating on shares of Tesla in a research report on Monday, June 9th. Ten research analysts have rated the stock with a sell rating, fifteen have given a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $303.31.

Tesla Stock Performance

Shares of NASDAQ TSLA traded down $1.38 during trading on Tuesday, hitting $307.88. The company had a trading volume of 22,769,085 shares, compared to its average volume of 107,105,594. The stock has a 50 day simple moving average of $321.62 and a 200 day simple moving average of $309.49. 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 12 month low of $191.48 and a 12 month high of $488.54. The firm has a market capitalization of $993.05 billion, a P/E ratio of 177.78, a price-to-earnings-growth ratio of 10.63 and a beta of 2.33.

Tesla (NASDAQ:TSLA - Get Free Report) last posted 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 company had revenue of $22.50 billion during the quarter, compared to the consensus estimate of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%. The firm's quarterly revenue was down 11.8% compared to the same quarter last year. During the same period last year, the business earned $0.52 EPS. As a group, analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insiders Place Their Bets

In other Tesla news, Director Kimbal Musk sold 91,588 shares of Tesla stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $357.39, for a total value of $32,732,635.32. Following the sale, the director owned 1,463,220 shares of the company's stock, valued at $522,940,195.80. The trade was a 5.89% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of Tesla stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $357.30, for a total value of $170,636,475.60. Following the completion of the sale, the director directly owned 855,394 shares in the company, valued at approximately $305,632,276.20. The trade was a 35.83% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 606,724 shares of company stock worth $215,376,831 over 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.