Evergreen Capital Management LLC Sells 4,147 Shares of Tesla, Inc. $TSLA

Key Points

• Evergreen Capital Management LLC reduced its holdings in Tesla, Inc. by 11.7%, owning 31,399 shares worth approximately $8.14 million after selling 4,147 shares in the first quarter.
• Other institutional investors, including Vanguard Group and Goldman Sachs, have increased their stakes in Tesla, with Goldman Sachs growing its shareholding by 322.1%.
• Tesla reported revenues of $22.50 billion in its latest earnings report, missing estimates and showing an 11.8% decline year-over-year.

Evergreen Capital Management LLC trimmed its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 11.7% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 31,399 shares of the electric vehicle producer's stock after selling 4,147 shares during the period. Evergreen Capital Management LLC's holdings in Tesla were worth $8,137,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TSLA. Cherry Tree Wealth Management LLC boosted its stake in Tesla by 86.3% in 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 boosted its stake in Tesla by 79.2% in 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 boosted its stake in Tesla by 250.0% in 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 purchased a new position in Tesla in the first quarter valued at about $27,000. Finally, Centennial Bank AR boosted its stake in Tesla by 833.3% in the first quarter. Centennial Bank AR now owns 112 shares of the electric vehicle producer's stock valued at $29,000 after acquiring an additional 100 shares during the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Tesla Stock Down 3.5%

Shares of NASDAQ TSLA traded down $12.11 during trading on Friday, reaching $333.87. The company had a trading volume of 80,898,652 shares, compared to its average volume of 76,110,896. Tesla, Inc. has a 12-month low of $205.97 and a 12-month high of $488.54. The stock has a market cap of $1.08 trillion, a PE ratio of 192.99, a P/E/G ratio of 11.61 and a beta of 2.33. The business's 50-day moving average is $323.59 and its 200 day moving average is $302.91. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07.

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 (EPS) 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 the consensus estimate of $23.18 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. The company's revenue for the quarter was down 11.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.52 earnings per share. As a group, equities analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently issued reports on TSLA shares. HSBC reissued a "reduce" rating and issued a $120.00 price target on shares of Tesla in a research report on Thursday, July 3rd. Mizuho dropped their target price on shares of Tesla from $390.00 to $375.00 and set an "outperform" rating for the company in a research report on Tuesday, July 8th. Argus restated a "hold" rating on shares of Tesla in a research report on Monday, June 9th. Baird R W downgraded shares of Tesla from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 9th. Finally, Canaccord Genuity Group raised their target price on shares of Tesla from $303.00 to $333.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, fifteen have assigned a Hold rating and nine have assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $303.31.

Insider Activity

In other news, SVP Xiaotong Zhu sold 15,000 shares of the company'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 transaction, the senior vice president directly owned 67,600 shares of the company's stock, valued at $21,889,556. This represents a 18.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director James R. Murdoch sold 120,000 shares of the company's stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $350.29, for a total value of $42,034,800.00. Following the transaction, the director directly owned 697,031 shares in the company, valued at approximately $244,162,988.99. The trade was a 14.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 150,564 shares of company stock valued at $51,792,190 over the last ninety days. 20.70% of the stock is currently owned by corporate 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.