FORA Capital LLC Trims Stock Holdings in Tesla, Inc. $TSLA

Key Points

• FORA Capital LLC reduced its stake in Tesla by 17.2%, owning 18,453 shares after selling 3,840 shares in Q1, valuing its holdings at approximately $4.78 million.
• Institutional investors collectively own 66.20% of Tesla's stock, with companies like Cherry Tree Wealth Management and Newton One Investments increasing their positions by over 250% in the first quarter.
• Tesla's latest earnings report revealed an EPS of $0.40, missing estimates, with a revenue of $22.5 billion, marking an 11.8% year-over-year decline.

FORA Capital LLC decreased its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 17.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,453 shares of the electric vehicle producer's stock after selling 3,840 shares during the quarter. FORA Capital LLC's holdings in Tesla were worth $4,782,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Cherry Tree Wealth Management LLC grew its position in shares of Tesla by 86.3% during the first quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock worth $25,000 after purchasing an additional 44 shares in the last quarter. First PREMIER Bank grew 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 in the last quarter. Newton One Investments LLC grew 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 in the last quarter. Arcadia Investment Management Corp MI purchased a new stake in shares of Tesla during the first quarter worth about $27,000. Finally, True Wealth Design LLC grew its position in shares of Tesla by 79.5% during the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock worth $28,000 after purchasing an additional 31 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company's stock.

Analyst Ratings Changes

Several analysts recently issued reports on TSLA shares. Piper Sandler reiterated an "overweight" rating and set a $400.00 target price on shares of Tesla in a research report on Tuesday, June 10th. UBS Group set a $290.00 price target on Tesla in a research note on Monday, June 30th. Royal Bank Of Canada reissued an "overweight" rating on shares of Tesla in a research note on Tuesday, July 29th. Daiwa Capital Markets reissued a "neutral" rating on shares of Tesla in a research note on Sunday, July 27th. Finally, Bank of America increased their price target on Tesla from $305.00 to $341.00 and gave the company a "neutral" rating in a research note on Monday, July 21st. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, fifteen have given a Hold rating and nine have assigned a Sell rating to the company's stock. Based on data from MarketBeat, Tesla has an average rating of "Hold" and a consensus target price of $303.31.

Insider Buying and Selling

In other Tesla news, SVP Xiaotong Zhu sold 15,000 shares of the firm'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 in the company, valued at $21,889,556. This trade represents a 18.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Vaibhav Taneja sold 2,000 shares of the firm's stock in a transaction on Tuesday, July 8th. The stock was sold at an average price of $300.00, for a total value of $600,000.00. Following the transaction, the chief financial officer owned 5,924 shares in the company, valued at $1,777,200. The trade was a 25.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 30,564 shares of company stock valued at $9,757,390 over the last three months. 20.70% of the stock is owned by corporate insiders.

Tesla Price Performance

Shares of TSLA stock opened at $346.60 on Tuesday. Tesla, Inc. has a 52-week low of $202.59 and a 52-week high of $488.54. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04. The firm has a market capitalization of $1.12 trillion, a P/E ratio of 200.35, a P/E/G ratio of 11.82 and a beta of 2.33. The stock has a 50 day moving average price of $321.62 and a 200 day moving average price of $302.48.

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 (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 the consensus estimate of $23.18 billion. During the same period in the prior year, the business posted $0.52 earnings per share. Tesla's revenue was down 11.8% on a year-over-year basis. As a group, sell-side analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current year.

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.

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