Compass Ion Advisors LLC Trims Holdings in Tesla, Inc. $TSLA

Key Points

• Compass Ion Advisors LLC has reduced its stake in Tesla, Inc. by 29.1%, now holding 2,680 shares worth approximately $851,000.
• Tesla's quarterly earnings report indicated an EPS of $0.40, which missed analysts' expectations of $0.43, alongside a revenue of $22.50 billion, below the consensus estimate of $23.18 billion.
• As of the latest filings, 66.20% of Tesla's stock is owned by institutional investors, demonstrating significant institutional interest in the company.

Compass Ion Advisors LLC cut its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 29.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,680 shares of the electric vehicle producer's stock after selling 1,102 shares during the period. Compass Ion Advisors LLC's holdings in Tesla were worth $851,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Cherry Tree Wealth Management LLC increased its position in shares of Tesla by 86.3% during the first quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after acquiring an additional 44 shares during the last quarter. First PREMIER Bank increased its position in shares of Tesla by 79.2% during the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after acquiring an additional 42 shares during the last quarter. Newton One Investments LLC increased its position in shares of Tesla by 250.0% during the first quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock valued at $27,000 after acquiring an additional 75 shares during the last quarter. Arcadia Investment Management Corp MI acquired a new stake in shares of Tesla during the first quarter valued at about $27,000. Finally, Chelsea Counsel Co. increased its position in shares of Tesla by 59.7% during the first quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer's stock valued at $28,000 after acquiring an additional 40 shares during the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Tesla

In related news, Director James R. Murdoch sold 60,000 shares of the company's stock in a transaction 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 in the company, valued at $269,260,263.08. This represents a 8.61% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Xiaotong Zhu sold 20,000 shares of the company's stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the completion of the sale, the senior vice president owned 47,600 shares of the company's stock, valued at approximately $17,314,500. This trade represents a 29.59% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 208,606 shares of company stock worth $77,360,462. 19.90% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

TSLA has been the subject of a number of recent analyst reports. Royal Bank Of Canada reiterated an "overweight" rating on shares of Tesla in a research report on Tuesday, July 29th. William Blair restated a "market perform" rating on shares of Tesla in a report on Friday, September 5th. Glj Research restated a "sell" rating on shares of Tesla in a report on Thursday, July 24th. Canaccord Genuity Group lifted their price objective on shares of Tesla from $303.00 to $333.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Finally, China Renaissance restated a "hold" rating and issued a $349.00 price objective on shares of Tesla in a report on Friday, July 25th. Two analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, twelve have given a Hold rating and nine have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $326.74.

Tesla Stock Down 1.6%

Tesla stock traded down $6.99 during trading on Tuesday, reaching $427.22. The stock had a trading volume of 62,623,596 shares, compared to its average volume of 103,129,625. Tesla, Inc. has a 52-week low of $212.11 and a 52-week high of $488.54. The business has a 50 day moving average price of $343.03 and a 200 day moving average price of $309.87. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07. The stock has a market cap of $1.42 trillion, a PE ratio of 246.97, a P/E/G ratio of 14.86 and a beta of 2.06.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its quarterly earnings data 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 analysts' expectations 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 quarter in the prior year, the firm posted $0.52 EPS. On average, analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

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.