Tesla, Inc. $TSLA Shares Sold by Clare Market Investments LLC

Key Points

• Clare Market Investments LLC reduced its Tesla holdings by 44.1% in the second quarter, selling 2,499 shares and ending with 3,168 shares valued at approximately $1,006,000.
• Tesla's stock price opened at $426.07 with a market cap of $1.42 trillion, while a recent earnings report showed a net margin of 6.54% and earnings of $0.40 EPS, missing estimates.
• Recent analyst reports indicate a mixed sentiment towards Tesla, with an average target price of $317.70 and various ratings including one Strong Buy, eighteen Buy, and nine Sell ratings.

Clare Market Investments LLC reduced its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 44.1% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,168 shares of the electric vehicle producer's stock after selling 2,499 shares during the period. Clare Market Investments LLC's holdings in Tesla were worth $1,006,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. lifted its position 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 last quarter. Nuveen LLC purchased a new stake in shares of Tesla in the first quarter worth $3,247,619,000. GAMMA Investing LLC lifted its holdings in Tesla by 27,378.6% in the first quarter. GAMMA Investing LLC now owns 9,812,316 shares of the electric vehicle producer's stock valued at $2,542,960,000 after acquiring an additional 9,776,607 shares during the period. Amundi increased its position in Tesla by 29.4% in the first quarter. Amundi now owns 16,771,882 shares of the electric vehicle producer's stock worth $4,482,789,000 after buying an additional 3,814,610 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in Tesla by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer's stock valued at $63,983,418,000 after buying an additional 3,694,524 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company's stock.

Tesla Trading Down 0.4%

TSLA traded down $1.68 during trading on Tuesday, reaching $432.54. 28,389,975 shares of the company's stock were exchanged, compared to its average volume of 102,937,211. The stock has a market capitalization of $1.44 trillion, a PE ratio of 250.45, a price-to-earnings-growth ratio of 14.86 and a beta of 2.06. Tesla, Inc. has a one year low of $212.11 and a one year 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 firm has a fifty day moving average price of $343.03 and a two-hundred day moving average price of $309.87.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.03). The company 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%. Tesla's quarterly revenue was down 11.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.52 EPS. As a group, equities research analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Tesla news, CFO Vaibhav Taneja sold 2,606 shares of the firm's stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $352.38, for a total value of $918,302.28. Following the completion of the sale, the chief financial officer owned 9,856 shares of the company's stock, valued at approximately $3,473,057.28. This trade represents a 20.91% decrease in their ownership of the stock. 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 60,000 shares of the business's stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $422.68, for a total value of $25,360,800.00. Following the completion of the sale, the director owned 637,031 shares of the company's stock, valued at $269,260,263.08. This trade represents a 8.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 208,606 shares of company stock worth $77,360,462. 19.90% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on TSLA. Guggenheim reiterated a "sell" rating and set a $175.00 price target on shares of Tesla in a research note on Wednesday, July 23rd. CICC Research boosted their target price on Tesla from $360.00 to $450.00 and gave the stock an "outperform" rating in a research report on Thursday, September 18th. The Goldman Sachs Group increased their price target on Tesla from $300.00 to $395.00 and gave the company a "neutral" rating in a report on Thursday, September 18th. Morgan Stanley restated an "overweight" rating and issued a $410.00 price target on shares of Tesla in a research note on Friday, September 5th. Finally, Dbs Bank lifted their price objective on shares of Tesla from $300.00 to $450.00 in a research report on Wednesday, September 17th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, twelve have assigned a Hold rating and nine have assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $326.74.

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.