Demars Financial Group LLC Has $385,000 Holdings in Tesla, Inc. $TSLA

Key Points

• Demars Financial Group LLC significantly reduced its Tesla holdings by 99.5%, now owning just 1,213 shares valued at $385,000 after selling 237,974 shares in the second quarter.
• Leading institutional investors like Vanguard Group Inc. and Goldman Sachs increased their stakes in Tesla, with Vanguard raising its ownership to approximately $64 billion.
• Tesla's recent quarterly earnings reported a miss on earnings per share projections, coming in at $0.40 compared to the expected $0.43, with revenues down 11.8% year-over-year.

Demars Financial Group LLC cut its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 99.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,213 shares of the electric vehicle producer's stock after selling 237,974 shares during the period. Demars Financial Group LLC's holdings in Tesla were worth $385,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. increased 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 purchasing an additional 3,694,524 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Tesla by 322.1% in the 1st 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 buying an additional 20,291,139 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Tesla by 4.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 18,174,941 shares of the electric vehicle producer's stock valued at $4,710,218,000 after buying an additional 849,091 shares during the period. Amundi increased its stake in shares of Tesla by 29.4% in the 1st quarter. Amundi now owns 16,771,882 shares of the electric vehicle producer's stock valued at $4,482,789,000 after buying an additional 3,814,610 shares during the period. Finally, Invesco Ltd. increased its stake in shares of Tesla by 17.6% in the 1st quarter. Invesco Ltd. now owns 14,786,414 shares of the electric vehicle producer's stock valued at $3,832,047,000 after buying an additional 2,211,300 shares during the period. 66.20% of the stock is owned by institutional investors and hedge funds.

Tesla Stock Performance

TSLA stock opened at $439.31 on Monday. The business's 50-day moving average price is $387.54 and its two-hundred day moving average price is $334.06. 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 market cap of $1.46 trillion, a PE ratio of 253.94, a P/E/G ratio of 15.79 and a beta of 2.08. Tesla, Inc. has a 1-year low of $212.11 and a 1-year high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its quarterly earnings results 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). The business had revenue of $22.50 billion for the quarter, compared to analyst estimates of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%.Tesla's quarterly revenue was down 11.8% compared to the same quarter last year. During the same period last year, the firm earned $0.52 EPS. As a group, research analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Activity at Tesla

In related news, CFO Vaibhav Taneja sold 2,606 shares of the business's stock in a transaction that occurred on 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 directly owned 9,856 shares in the company, valued at approximately $3,473,057.28. The trade was a 20.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Xiaotong Zhu sold 20,000 shares of the business's stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $363.75, for a total value 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 ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 202,606 shares of company stock worth $75,588,902. Company insiders own 19.90% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Baird R W raised Tesla from a "hold" rating to a "strong-buy" rating in a research note on Friday, September 19th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $355.00 price objective on shares of Tesla in a report on Friday, October 3rd. Weiss Ratings reiterated a "hold (c)" rating on shares of Tesla in a report on Wednesday, October 8th. Morgan Stanley reiterated an "overweight" rating on shares of Tesla in a report on Wednesday. Finally, William Blair reiterated a "market perform" rating on shares of Tesla in a report on Friday, September 5th. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, twelve have assigned a Hold rating and ten have assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $363.54.

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.

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