Facet Wealth Inc. Has $926,000 Holdings in Tesla, Inc. (NASDAQ:TSLA)

Key Points

• Facet Wealth Inc. has reduced its stake in Tesla, Inc. by 31.1%, selling 1,490 shares during the first quarter, leaving it with 3,303 shares valued at approximately $926,000.
• During the same period, several institutions, including Cherry Tree Wealth Management and First PREMIER Bank, have significantly increased their holdings in Tesla, with increases ranging from 79.2% to 250.0%.
• Tesla recently reported earnings of $0.40 EPS, missing analysts' expectations, with a year-over-year revenue decline of 11.8% to $22.50 billion.

Facet Wealth Inc. lessened its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 31.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,303 shares of the electric vehicle producer's stock after selling 1,490 shares during the quarter. Facet Wealth Inc.'s holdings in Tesla were worth $926,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in TSLA. Geode Capital Management LLC boosted its holdings in Tesla by 2.8% during the 4th quarter. Geode Capital Management LLC now owns 61,011,604 shares of the electric vehicle producer's stock worth $24,566,217,000 after acquiring an additional 1,655,203 shares during the last quarter. FMR LLC boosted its holdings in Tesla by 40.1% during the fourth quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer's stock worth $13,997,660,000 after purchasing an additional 9,920,325 shares during the last quarter. 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 buying an additional 5,075,418 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Tesla by 0.7% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,536,519 shares of the electric vehicle producer's stock worth $9,908,828,000 after buying an additional 158,697 shares in the last quarter. Finally, Nuveen Asset Management LLC boosted its stake in shares of Tesla by 19.8% in the 4th quarter. Nuveen Asset Management LLC now owns 13,109,178 shares of the electric vehicle producer's stock worth $5,294,010,000 after buying an additional 2,170,449 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Tesla Stock Performance

NASDAQ TSLA traded down $12.14 during trading hours on Thursday, reaching $306.90. The company's stock had a trading volume of 56,230,058 shares, compared to its average volume of 107,815,883. 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 business has a 50-day simple moving average of $323.61 and a 200 day simple moving average of $313.14. Tesla, Inc. has a 52 week low of $182.00 and a 52 week high of $488.54. The stock has a market cap of $989.89 billion, a PE ratio of 177.01, a PEG ratio of 11.28 and a beta of 2.39.

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). Tesla had a return on equity of 7.98% and a net margin of 6.54%. 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 firm posted $0.52 EPS. The company's revenue was down 11.8% compared to the same quarter last year. Equities research analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Activity at Tesla

In other news, CFO Vaibhav Taneja sold 2,000 shares of the firm's stock in a transaction on Tuesday, July 8th. The shares were sold at an average price of $300.00, for a total transaction of $600,000.00. Following the transaction, the chief financial officer owned 5,924 shares in the company, valued at approximately $1,777,200. This trade represents a 25.24% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Xiaotong Zhu sold 15,000 shares of the firm's 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 completion of the transaction, the senior vice president directly owned 67,600 shares in the company, valued at $21,889,556. The trade was a 18.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 719,119 shares of company stock worth $246,186,549 in the last quarter. 20.70% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have weighed in on TSLA. Morgan Stanley reissued an "overweight" rating and issued a $410.00 price objective on shares of Tesla in a research report on Friday, June 6th. Truist Financial set a $280.00 price target on shares of Tesla in a research note on Tuesday, April 22nd. Piper Sandler reiterated an "overweight" rating and issued a $400.00 price objective on shares of Tesla in a research note on Tuesday, June 10th. Bank of America raised 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, China Renaissance reiterated a "hold" rating and set a $349.00 price target on shares of Tesla in a research note on Friday, July 25th. Ten equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average 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.