Gainplan LLC Sells 1,342 Shares of Tesla, Inc. $TSLA

Key Points

• Gainplan LLC reduced its holdings in Tesla by 21.4% in the second quarter, selling 1,342 shares and now owning 4,928 shares valued at $1,566,000.
• Director James R. Murdoch sold 120,000 shares for $42 million, while CFO Vaibhav Taneja sold 2,606 shares worth $918,302, indicating significant insider selling activity.
• Tesla's stock opened at $435.54 with a fifty-two week low of $212.11 and a high of $488.54, highlighting recent price fluctuations despite missing earnings estimates.

Gainplan LLC reduced its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 21.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,928 shares of the electric vehicle producer's stock after selling 1,342 shares during the quarter. Tesla makes up about 0.7% of Gainplan LLC's holdings, making the stock its 15th largest position. Gainplan LLC's holdings in Tesla were worth $1,566,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Cherry Tree Wealth Management LLC lifted its holdings in 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 acquiring an additional 44 shares during the period. First PREMIER Bank lifted its holdings in 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 acquiring an additional 42 shares during the period. Newton One Investments LLC lifted its holdings in 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 acquiring an additional 75 shares during the period. Arcadia Investment Management Corp MI bought a new stake in shares of Tesla in the first quarter valued at $27,000. Finally, Chelsea Counsel Co. raised its stake in shares of Tesla by 59.7% in the first quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer's stock valued at $28,000 after buying an additional 40 shares during the period. 66.20% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director James R. Murdoch sold 120,000 shares of the business's stock in a transaction dated 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 completion of the transaction, the director directly owned 697,031 shares in the company, valued at $244,162,988.99. The trade was a 14.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Vaibhav Taneja sold 2,606 shares of the business's stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $352.38, for a total value of $918,302.28. Following the transaction, the chief financial officer owned 9,856 shares of the company's stock, valued at approximately $3,473,057.28. The trade was a 20.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 202,606 shares of company stock worth $75,588,902 over the last ninety days. 19.90% of the stock is owned by corporate insiders.

Tesla Price Performance

Shares of NASDAQ TSLA opened at $435.54 on Friday. Tesla, Inc. has a fifty-two week low of $212.11 and a fifty-two week high of $488.54. The stock has a fifty day moving average of $373.75 and a 200-day moving average of $326.64. 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 stock has a market cap of $1.45 trillion, a PE ratio of 251.76, a price-to-earnings-growth ratio of 16.04 and a beta of 2.08.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 EPS for the quarter, missing the consensus estimate 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 analysts' expectations of $23.18 billion. During the same quarter in the previous year, the firm earned $0.52 earnings per share. Tesla's quarterly revenue was down 11.8% compared to the same quarter last year. Equities research analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current year.

Analyst Upgrades and Downgrades

TSLA has been the topic of several research reports. The Goldman Sachs Group boosted their target price on Tesla from $395.00 to $425.00 and gave the company a "neutral" rating in a research note on Friday, October 3rd. William Blair restated a "market perform" rating on shares of Tesla in a research note on Friday, September 5th. Cantor Fitzgerald restated an "overweight" rating and issued a $355.00 target price on shares of Tesla in a research note on Friday, October 3rd. Benchmark restated a "buy" rating and issued a $475.00 target price (up from $350.00) on shares of Tesla in a research note on Thursday, June 26th. Finally, Morgan Stanley restated an "overweight" rating and issued a $410.00 target price on shares of Tesla in a research note on Thursday, October 2nd. Two research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, thirteen have issued a Hold rating and eight have issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $349.37.

About Tesla

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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