Tesla, Inc. $TSLA Shares Sold by Curi RMB Capital LLC

Key Points

• Curi RMB Capital LLC has significantly decreased its stake in Tesla, Inc. by 54.9%, leaving it with 3,848 shares valued at approximately $997,000.
• Other institutional investors have increased their holdings in Tesla, with Cherry Tree Wealth Management LLC raising its stake by 86.3% in the same quarter.
• Recent insider trading activities include SVP Xiaotong Zhu selling 15,000 shares and CFO Vaibhav Taneja selling 2,000 shares, both representing substantial decreases in their ownership.

Curi RMB Capital LLC lessened its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 54.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,848 shares of the electric vehicle producer's stock after selling 4,675 shares during the quarter. Curi RMB Capital LLC's holdings in Tesla were worth $997,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of TSLA. Means Investment CO. Inc. grew its holdings in Tesla by 37.7% during the first quarter. Means Investment CO. Inc. now owns 23,089 shares of the electric vehicle producer's stock worth $5,984,000 after acquiring an additional 6,323 shares during the period. Focus Financial Network Inc. grew its holdings in Tesla by 3.1% during the first quarter. Focus Financial Network Inc. now owns 22,467 shares of the electric vehicle producer's stock worth $5,823,000 after acquiring an additional 670 shares during the period. Zuckerman Investment Group LLC grew its holdings in Tesla by 6.9% during the first quarter. Zuckerman Investment Group LLC now owns 12,748 shares of the electric vehicle producer's stock worth $3,304,000 after acquiring an additional 826 shares during the period. Keystone Global Partners LLC acquired a new position in Tesla during the first quarter worth $594,000. Finally, IFM Investors Pty Ltd grew its holdings in Tesla by 8.5% during the first quarter. IFM Investors Pty Ltd now owns 586,460 shares of the electric vehicle producer's stock worth $153,436,000 after acquiring an additional 46,087 shares during the period. Hedge funds and other institutional investors own 66.20% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on TSLA shares. Daiwa Capital Markets reissued a "neutral" rating on shares of Tesla in a report on Sunday, July 27th. Royal Bank Of Canada reaffirmed an "overweight" rating on shares of Tesla in a research note on Tuesday, July 29th. Canaccord Genuity Group increased their price objective on Tesla from $303.00 to $333.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Bank of America increased their target price on Tesla from $305.00 to $341.00 and gave the stock a "neutral" rating in a research report on Monday, July 21st. Finally, The Goldman Sachs Group restated a "neutral" rating on shares of Tesla in a report on Sunday, August 17th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, fourteen have given a Hold rating and nine have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $303.31.

Tesla Stock Up 3.6%

NASDAQ TSLA traded up $12.31 during mid-day trading on Friday, reaching $350.84. 108,740,568 shares of the company's stock traded hands, compared to its average volume of 72,902,024. Tesla, Inc. has a 1-year low of $210.51 and a 1-year high of $488.54. The company has a fifty day simple moving average of $324.00 and a 200-day simple moving average of $302.25. 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 cap of $1.13 trillion, a price-to-earnings ratio of 202.80, a P/E/G ratio of 12.24 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 analysts' consensus estimates of $0.43 by ($0.03). Tesla had a net margin of 6.54% and a return on equity of 7.98%. The business had revenue of $22.50 billion for the quarter, compared to analyst estimates of $23.18 billion. During the same quarter last year, the business earned $0.52 EPS. Tesla's revenue for the quarter was down 11.8% compared to the same quarter last year. As a group, equities research analysts expect that Tesla, Inc. will post 2.56 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $292.89, for a total value of $1,171,560.00. Following the completion of the transaction, the chief financial officer owned 5,924 shares in the company, valued at approximately $1,735,080.36. This trade represents a 40.31% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Xiaotong Zhu sold 15,000 shares of Tesla stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $323.81, for a total value of $4,857,150.00. Following the completion of the transaction, the senior vice president owned 67,600 shares of the company's stock, valued at approximately $21,889,556. The trade was a 18.16% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 143,564 shares of company stock valued at $49,396,070 in the last quarter. 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.