Blue Sky Capital Consultants Group Inc. Reduces Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Key Points

• Blue Sky Capital Consultants Group Inc. decreased its holdings in Tesla, Inc. by 1.6%, holding 52,181 shares worth approximately $13.52 million, making Tesla 8.8% of their investment portfolio.
• Several institutional investors significantly increased their stakes in Tesla during the 1st quarter, with notable increases of 86.3% by Cherry Tree Wealth Management and 250.0% by Newton One Investments.
• Recent insider sales included a significant transaction by Director Ira Matthew Ehrenpreis, who sold 477,572 shares for a total of approximately $170.64 million, reducing his ownership by 35.83%.

Blue Sky Capital Consultants Group Inc. trimmed its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 1.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 52,181 shares of the electric vehicle producer's stock after selling 851 shares during the period. Tesla comprises approximately 8.8% of Blue Sky Capital Consultants Group Inc.'s investment portfolio, making the stock its 2nd largest holding. Blue Sky Capital Consultants Group Inc.'s holdings in Tesla were worth $13,523,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Manchester Capital Management LLC lifted its holdings in Tesla by 15.2% during the first quarter. Manchester Capital Management LLC now owns 14,152 shares of the electric vehicle producer's stock valued at $3,668,000 after purchasing an additional 1,869 shares during the last quarter. Novus Advisors LLC raised its position in shares of Tesla by 199.0% in the first quarter. Novus Advisors LLC now owns 1,797 shares of the electric vehicle producer's stock valued at $466,000 after purchasing an additional 1,196 shares during the period. Powell Investment Advisors LLC lifted its stake in shares of Tesla by 149.9% during the 1st quarter. Powell Investment Advisors LLC now owns 13,670 shares of the electric vehicle producer's stock valued at $3,543,000 after buying an additional 8,200 shares in the last quarter. Cheviot Value Management LLC bought a new position in Tesla in the 1st quarter worth approximately $771,000. Finally, Liberty Wealth Management LLC grew its stake in Tesla by 1,230.8% in the 1st quarter. Liberty Wealth Management LLC now owns 336,018 shares of the electric vehicle producer's stock valued at $87,082,000 after buying an additional 310,769 shares in the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. William Blair lowered Tesla from an "outperform" rating to a "market perform" rating in a report on Monday, July 7th. Stifel Nicolaus set a $450.00 price objective on Tesla and gave the stock a "buy" rating in a report on Thursday, April 24th. Royal Bank Of Canada reaffirmed an "overweight" rating on shares of Tesla in a report on Tuesday, July 29th. Robert W. Baird reissued a "neutral" rating and issued a $320.00 price target on shares of Tesla in a report on Monday, June 9th. Finally, Piper Sandler reaffirmed an "overweight" rating and set a $400.00 price objective on shares of Tesla in a research note on Tuesday, June 10th. Ten research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Tesla presently has an average rating of "Hold" and an average price target of $303.31.

Tesla Trading Down 1.8%

TSLA stock traded down $5.64 during midday trading on Friday, hitting $302.63. The company had a trading volume of 88,785,612 shares, compared to its average volume of 96,195,928. The stock has a market cap of $976.12 billion, a price-to-earnings ratio of 174.93, a PEG ratio of 10.63 and a beta of 2.33. Tesla, Inc. has a 52 week low of $182.00 and a 52 week high of $488.54. 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 stock's 50 day moving average price is $322.22 and its 200 day moving average price is $310.31.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its quarterly 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 firm had revenue of $22.50 billion for the quarter, compared to the consensus estimate of $23.18 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. The company's quarterly revenue 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. As a group, equities research analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Vaibhav Taneja sold 2,000 shares of the company's stock in a transaction that occurred on Tuesday, July 8th. The stock was sold at an average price of $300.00, for a total transaction of $600,000.00. Following the completion of the transaction, the chief financial officer owned 5,924 shares in the company, valued at $1,777,200. This represents a 25.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Xiaotong Zhu sold 15,000 shares of Tesla stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $323.81, for a total transaction of $4,857,150.00. Following the completion of the sale, the senior vice president owned 67,600 shares in the company, valued at approximately $21,889,556. This trade represents a 18.16% decrease in their position. The disclosure for this sale can be found here. Insiders sold 719,119 shares of company stock valued at $246,186,549 over the last three months. Company insiders own 20.70% of the company's stock.

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.