Tesla, Inc. $TSLA Stake Lowered by Ewing Morris & Co. Investment Partners Ltd.

Key Points

• Ewing Morris & Co. Investment Partners Ltd. reduced its Tesla holdings by 62.7% in Q1, now owning 727 shares valued at $188,000.
• Tesla reported Q2 earnings of $0.40 per share, missing estimates of $0.43, with quarterly revenue of $22.50 billion, down 11.8% year-over-year.
• Institutional investors own 66.20% of Tesla's stock, highlighting strong interest from various funds as they modify their holdings.

Ewing Morris & Co. Investment Partners Ltd. reduced its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 62.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 727 shares of the electric vehicle producer's stock after selling 1,223 shares during the period. Ewing Morris & Co. Investment Partners Ltd.'s holdings in Tesla were worth $188,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TSLA. Cherry Tree Wealth Management LLC boosted its position in Tesla by 86.3% in the 1st quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after buying an additional 44 shares during the last quarter. First PREMIER Bank lifted 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 worth $25,000 after purchasing an additional 42 shares during the last quarter. Newton One Investments LLC lifted 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 worth $27,000 after purchasing an additional 75 shares during the last quarter. Arcadia Investment Management Corp MI bought a new position in shares of Tesla during the first quarter worth about $27,000. Finally, Centennial Bank AR lifted its position in shares of Tesla by 833.3% during the first quarter. Centennial Bank AR now owns 112 shares of the electric vehicle producer's stock worth $29,000 after purchasing an additional 100 shares during the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Price Performance

NASDAQ:TSLA traded up $4.73 during midday trading on Wednesday, hitting $334.09. 88,423,670 shares of the stock were exchanged, compared to its average volume of 103,650,383. Tesla, Inc. has a one year low of $210.51 and a one year high of $488.54. The company has a market capitalization of $1.08 trillion, a price-to-earnings ratio of 193.12, a P/E/G ratio of 11.61 and a beta of 2.06. The business has a 50-day moving average price of $323.07 and a two-hundred day moving average price of $302.58. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.03). The business had revenue of $22.50 billion during 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%.The company's quarterly revenue was down 11.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.52 EPS. Sell-side analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

Insiders Place Their Bets

In other Tesla news, SVP Xiaotong Zhu sold 15,000 shares of Tesla stock in a transaction that occurred on 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 transaction, the senior vice president owned 67,600 shares in the company, valued at approximately $21,889,556. The trade was a 18.16% 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, Director James R. Murdoch sold 120,000 shares of Tesla stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $350.29, for a total transaction of $42,034,800.00. Following the transaction, the director 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. Over the last 90 days, insiders have sold 143,564 shares of company stock worth $49,396,070. 20.70% of the stock is owned by insiders.

Wall Street Analyst Weigh In

TSLA has been the topic of several research analyst reports. Argus reaffirmed a "hold" rating on shares of Tesla in a research report on Monday, June 9th. Piper Sandler reissued an "overweight" rating and issued a $400.00 target price on shares of Tesla in a report on Tuesday, June 10th. Baird R W cut shares of Tesla from a "strong-buy" rating to a "hold" rating in a report on Monday, June 9th. UBS Group set a $290.00 target price on shares of Tesla in a report on Monday, June 30th. Finally, Wedbush reissued an "outperform" rating and issued a $500.00 target price on shares of Tesla in a report on Monday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, fifteen have assigned a Hold rating and nine have issued a Sell rating to the stock. According to MarketBeat, Tesla presently has an average rating of "Hold" and a consensus price target of $303.31.

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.