Galvin Gaustad & Stein LLC Sells 1,247 Shares of Tesla, Inc. (NASDAQ:TSLA)

Key Points

• Galvin Gaustad & Stein LLC reduced its Tesla holdings by **60.0%**, selling **1,247 shares** and holding a total of **830 shares** valued at **$215,000**.
• Various institutional investors have increased their stakes in Tesla, with **Geode Capital Management LLC** raising its position by **2.8%** and **FMR LLC** boosting its stake by **40.1%** in the fourth quarter.
• Tesla reported a **net margin of 6.54%** for its most recent quarter, with earnings per share of **$0.40**, missing analysts' expectations of **$0.43**.

Galvin Gaustad & Stein LLC lowered its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 60.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 830 shares of the electric vehicle producer's stock after selling 1,247 shares during the period. Galvin Gaustad & Stein LLC's holdings in Tesla were worth $215,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Geode Capital Management LLC raised its position in shares of Tesla by 2.8% in the fourth quarter. Geode Capital Management LLC now owns 61,011,604 shares of the electric vehicle producer's stock valued at $24,566,217,000 after purchasing an additional 1,655,203 shares during the period. FMR LLC grew its stake in Tesla by 40.1% during the fourth quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer's stock valued at $13,997,660,000 after acquiring an additional 9,920,325 shares in the last quarter. Northern Trust Corp grew its stake in Tesla by 21.6% during the fourth quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer's stock valued at $11,541,592,000 after acquiring an additional 5,075,418 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Tesla by 0.7% during the fourth 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 valued at $9,908,828,000 after acquiring an additional 158,697 shares in the last quarter. Finally, Nuveen Asset Management LLC grew its stake in Tesla by 19.8% during the fourth quarter. Nuveen Asset Management LLC now owns 13,109,178 shares of the electric vehicle producer's stock valued at $5,294,010,000 after acquiring an additional 2,170,449 shares in the last quarter. Institutional investors own 66.20% of the company's stock.

Tesla Trading Up 3.0%

NASDAQ:TSLA opened at $325.59 on Tuesday. The company has a fifty day moving average of $324.37 and a 200 day moving average of $313.04. Tesla, Inc. has a 52 week low of $182.00 and a 52 week high of $488.54. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $1.05 trillion, a P/E ratio of 188.20, a P/E/G ratio of 9.93 and a beta of 2.39.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 EPS for the quarter, missing analysts' consensus estimates of $0.43 by ($0.03). Tesla had a net margin of 6.54% and a return on equity of 7.98%. The firm had revenue of $22.50 billion for the quarter, compared to the consensus estimate of $23.18 billion. During the same quarter in the prior year, the company earned $0.52 earnings per share. The company's quarterly revenue was down 11.8% compared to the same quarter last year. On average, research analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages recently commented on TSLA. JPMorgan Chase & Co. reduced their price objective on shares of Tesla from $120.00 to $115.00 and set an "underweight" rating for the company in a research note on Wednesday, April 23rd. Daiwa Capital Markets reaffirmed a "neutral" rating on shares of Tesla in a research note on Sunday. Royal Bank Of Canada reduced their price objective on shares of Tesla from $314.00 to $307.00 and set an "outperform" rating for the company in a research note on Wednesday, April 23rd. HSBC reaffirmed a "reduce" rating and set a $120.00 price objective on shares of Tesla in a research note on Thursday, July 3rd. Finally, Cantor Fitzgerald cut their price target on shares of Tesla from $425.00 to $355.00 and set an "overweight" rating for the company in a research note on Wednesday, April 23rd. Ten analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $302.75.

Insider Activity

In related news, Director Kimbal Musk sold 91,588 shares of the company's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $357.39, for a total transaction of $32,732,635.32. Following the completion of the sale, the director directly owned 1,463,220 shares in the company, valued at $522,940,195.80. This represents a 5.89% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Vaibhav Taneja sold 2,000 shares of the business'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 directly owned 5,924 shares in the company, valued at approximately $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. Over the last quarter, insiders have sold 723,119 shares of company stock valued at $247,324,149. 20.70% of the stock is owned by corporate insiders.

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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