Clearwater Capital Advisors LLC Has $759,000 Position in Tesla, Inc. (NASDAQ:TSLA)

Key Points

• Clearwater Capital Advisors LLC reduced its stake in Tesla by 25.6%, owning 2,929 shares valued at approximately $759,000 as of the latest SEC filing.
• In the first quarter, Means Investment CO. Inc. increased its holdings in Tesla by 37.7% and now owns 23,089 shares worth about $5,984,000.
• Tesla's most recent quarterly earnings showed an EPS of $0.40, missing analysts' estimates of $0.43, with revenues of $22.50 billion, down 11.8% from the same quarter last year.

Clearwater Capital Advisors LLC lessened its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 25.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,929 shares of the electric vehicle producer's stock after selling 1,010 shares during the period. Clearwater Capital Advisors LLC's holdings in Tesla were worth $759,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of TSLA. Susquehanna Fundamental Investments LLC acquired a new position in Tesla during the 4th quarter valued at $56,600,000. Means Investment CO. Inc. increased its holdings in shares of Tesla by 37.7% during the 1st quarter. Means Investment CO. Inc. now owns 23,089 shares of the electric vehicle producer's stock worth $5,984,000 after purchasing an additional 6,323 shares during the period. Focus Financial Network Inc. raised its position in shares of Tesla by 3.1% during the first quarter. Focus Financial Network Inc. now owns 22,467 shares of the electric vehicle producer's stock valued at $5,823,000 after buying an additional 670 shares during the last quarter. IFM Investors Pty Ltd lifted its stake in shares of Tesla by 8.5% in the first quarter. IFM Investors Pty Ltd now owns 586,460 shares of the electric vehicle producer's stock valued at $153,436,000 after buying an additional 46,087 shares during the period. Finally, Harvard Management Co. Inc. acquired a new stake in Tesla during the fourth quarter worth about $8,158,000. Institutional investors own 66.20% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. UBS Group set a $290.00 price target on Tesla in a report on Monday, June 30th. HSBC restated a "reduce" rating and issued a $120.00 target price on shares of Tesla in a research note on Thursday, July 3rd. Royal Bank Of Canada reiterated an "overweight" rating on shares of Tesla in a research note on Tuesday. Canaccord Genuity Group increased their price objective on shares of Tesla from $303.00 to $333.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Tesla in a report on Thursday, July 24th. Ten equities 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 given a strong buy rating to the company. According to MarketBeat, Tesla has an average rating of "Hold" and an average target price of $303.31.

Tesla Trading Down 1.8%

NASDAQ TSLA opened at $302.63 on Friday. Tesla, Inc. has a 12 month low of $182.00 and a 12 month high of $488.54. The stock has a 50-day simple moving average of $322.22 and a 200 day simple moving average of $311.84. 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 market capitalization of $976.12 billion, a PE ratio of 174.93, a P/E/G ratio of 10.83 and a beta of 2.33.

Tesla (NASDAQ:TSLA - Get Free Report) last announced 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 company had revenue of $22.50 billion during 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 business's revenue was down 11.8% compared to the same quarter last year. During the same period last year, the company earned $0.52 earnings per share. Research analysts forecast that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Activity

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

Tesla 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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