Interchange Capital Partners LLC Lowers Holdings in Tesla, Inc. $TSLA

Key Points

• Interchange Capital Partners LLC significantly reduced its holdings in Tesla, Inc. by 89.4%, owning just 1,274 shares after selling 10,746 shares in the second quarter.
• Insider trading activities included SVP Xiaotong Zhu and CFO Vaibhav Taneja selling a combined total of shares worth $8.2 million, reflecting a decrease in their respective positions.
• Tesla's stock opened at $435.15, with a market cap of $1.45 trillion, though the company reported a revenue decline of 11.8% year-over-year in its latest earnings results.

Interchange Capital Partners LLC trimmed its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 89.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,274 shares of the electric vehicle producer's stock after selling 10,746 shares during the period. Tesla comprises about 0.4% of Interchange Capital Partners LLC's investment portfolio, making the stock its 18th biggest position. Interchange Capital Partners LLC's holdings in Tesla were worth $405,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. First Merchants Corp grew its stake in shares of Tesla by 1.3% during the second quarter. First Merchants Corp now owns 2,413 shares of the electric vehicle producer's stock valued at $767,000 after buying an additional 31 shares during the last quarter. KWB Wealth grew its stake in shares of Tesla by 2.4% during the second quarter. KWB Wealth now owns 1,381 shares of the electric vehicle producer's stock valued at $439,000 after buying an additional 33 shares during the last quarter. Conrad Siegel Investment Advisors Inc. grew its stake in shares of Tesla by 3.6% during the second quarter. Conrad Siegel Investment Advisors Inc. now owns 976 shares of the electric vehicle producer's stock valued at $310,000 after buying an additional 34 shares during the last quarter. Guyasuta Investment Advisors Inc. grew its stake in shares of Tesla by 0.7% during the second quarter. Guyasuta Investment Advisors Inc. now owns 5,107 shares of the electric vehicle producer's stock valued at $1,622,000 after buying an additional 34 shares during the last quarter. Finally, Acorn Creek Capital LLC grew its stake in shares of Tesla by 1.6% during the second quarter. Acorn Creek Capital LLC now owns 2,194 shares of the electric vehicle producer's stock valued at $697,000 after buying an additional 34 shares during the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, SVP Xiaotong Zhu sold 20,000 shares of the stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the completion of the sale, the senior vice president owned 47,600 shares in the company, valued at approximately $17,314,500. This represents a 29.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Vaibhav Taneja sold 2,606 shares of the stock in a transaction on Monday, September 8th. The shares were sold at an average price of $352.38, for a total value of $918,302.28. Following the sale, the chief financial officer owned 9,856 shares of the company's stock, valued at approximately $3,473,057.28. This represents a 20.91% decrease in their position. 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 90 days. Company insiders own 19.90% of the company's stock.

Tesla Stock Up 1.4%

Tesla stock opened at $435.15 on Thursday. The business has a fifty day moving average of $383.21 and a two-hundred day moving average of $330.90. 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 cap of $1.45 trillion, a P/E ratio of 251.53, a P/E/G ratio of 15.47 and a beta of 2.08. Tesla, Inc. has a twelve month low of $212.11 and a twelve month high of $488.54.

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

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Daiwa Capital Markets reaffirmed a "neutral" rating on shares of Tesla in a research note on Sunday, July 27th. The Goldman Sachs Group upped 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 reissued a "market perform" rating on shares of Tesla in a research note on Friday, September 5th. Royal Bank Of Canada increased their price objective on Tesla from $325.00 to $500.00 and gave the stock an "outperform" rating in a research note on Friday, October 10th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on Tesla from $345.00 to $435.00 and gave the stock a "buy" rating in a research note on Friday, September 26th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, thirteen have given a Hold rating and eight have given a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $363.03.

Tesla 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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