Douglass Winthrop Advisors LLC Decreases Stake in Tesla, Inc. $TSLA

Key Points

• Douglass Winthrop Advisors LLC reduced its stake in Tesla, Inc. by 16.2% during the first quarter, ending with 12,409 shares valued at approximately $3.22 million.
• Institutional investors now own 66.20% of Tesla's stock, with notable increases from firms such as Goldman Sachs, which grew its position by 322.1%.
• Tesla's latest quarterly earnings report showed earnings per share of $0.40, missing expectations, and a year-over-year revenue decline of 11.8%.

Douglass Winthrop Advisors LLC cut its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 16.2% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 12,409 shares of the electric vehicle producer's stock after selling 2,394 shares during the quarter. Douglass Winthrop Advisors LLC's holdings in Tesla were worth $3,216,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Goldman Sachs Group Inc. grew its position in Tesla by 322.1% during the first quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer's stock worth $6,891,201,000 after buying an additional 20,291,139 shares during the period. Nuveen LLC purchased a new stake in shares of Tesla during the 1st quarter worth approximately $3,247,619,000. GAMMA Investing LLC grew its holdings in shares of Tesla by 27,378.6% in the 1st quarter. GAMMA Investing LLC now owns 9,812,316 shares of the electric vehicle producer's stock worth $2,542,960,000 after acquiring an additional 9,776,607 shares during the period. Northern Trust Corp increased its stake in Tesla by 21.6% in the 4th quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer's stock valued at $11,541,592,000 after purchasing an additional 5,075,418 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in Tesla by 1.5% in 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. Institutional investors and hedge funds own 66.20% of the company's stock.

Tesla Stock Performance

Shares of TSLA opened at $340.01 on Friday. Tesla, Inc. has a 1 year low of $202.59 and a 1 year high of $488.54. The company's 50 day simple moving average is $321.27 and its 200 day simple moving average is $303.60. The company has a market capitalization of $1.10 trillion, a price-to-earnings ratio of 196.54, a PEG ratio of 11.13 and a beta of 2.33. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04.

Tesla (NASDAQ:TSLA - Get Free Report) last issued 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). Tesla had a net margin of 6.54% and a return on equity of 7.98%. The business had revenue of $22.50 billion during the quarter, compared to analyst estimates of $23.18 billion. During the same quarter last year, the firm posted $0.52 earnings per share. The company's revenue was down 11.8% on a year-over-year basis. On average, sell-side analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

Analyst Ratings Changes

TSLA has been the topic of a number of research analyst reports. Glj Research reiterated a "sell" rating on shares of Tesla in a research report on Thursday, July 24th. Guggenheim reiterated a "sell" rating and issued a $175.00 price objective on shares of Tesla in a research report on Wednesday, July 23rd. The Goldman Sachs Group reissued a "neutral" rating on shares of Tesla in a research note on Sunday, August 17th. HSBC restated a "reduce" rating and set a $120.00 target price on shares of Tesla in a research report on Thursday, July 3rd. Finally, Piper Sandler reiterated an "overweight" rating and issued a $400.00 price target on shares of Tesla in a research report on Tuesday, June 10th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, fifteen have given a Hold rating and nine have issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $303.31.

Insiders Place Their Bets

In related news, CFO Vaibhav Taneja sold 6,000 shares of the stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $341.02, for a total transaction of $2,046,120.00. Following the transaction, the chief financial officer directly owned 1,950 shares in the company, valued at approximately $664,989. This represents a 75.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Xiaotong Zhu sold 15,000 shares of Tesla stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $323.81, for a total value of $4,857,150.00. Following the completion of the sale, the senior vice president owned 67,600 shares of the company's stock, valued at $21,889,556. This trade represents a 18.16% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 599,724 shares of company stock valued at $213,126,501. 20.70% of the stock is owned by company insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.