Invst LLC Has $774,000 Stake in Tesla, Inc. $TSLA

Key Points

• Invst LLC has reduced its stake in Tesla by 18.3%, holding 2,986 shares valued at $774,000, according to its recent SEC filing.
• Tesla's quarterly earnings missed estimates with $0.40 EPS, below the expected $0.43, and reported $22.50 billion in revenue, down 11.8% year-over-year.
• Institutional ownership in Tesla remains high at 66.20%, with several hedge funds significantly increasing their positions during the first quarter, notably Goldman Sachs (322.1% increase).

Invst LLC trimmed its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 18.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,986 shares of the electric vehicle producer's stock after selling 671 shares during the period. Invst LLC's holdings in Tesla were worth $774,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TSLA. Goldman Sachs Group Inc. raised its position in shares of Tesla by 322.1% in the first quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer's stock valued at $6,891,201,000 after buying an additional 20,291,139 shares in the last quarter. Nuveen LLC acquired a new position in Tesla during the first quarter valued at approximately $3,247,619,000. GAMMA Investing LLC raised its position in Tesla by 27,378.6% during the first quarter. GAMMA Investing LLC now owns 9,812,316 shares of the electric vehicle producer's stock valued at $2,542,960,000 after purchasing an additional 9,776,607 shares in the last quarter. Amundi raised its position in Tesla by 29.4% during the first quarter. Amundi now owns 16,771,882 shares of the electric vehicle producer's stock valued at $4,482,789,000 after purchasing an additional 3,814,610 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in Tesla by 1.5% during the first quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer's stock valued at $63,983,418,000 after purchasing an additional 3,694,524 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Tesla Stock Up 7.4%

Shares of NASDAQ:TSLA opened at $395.94 on Friday. The company has a fifty day moving average of $328.89 and a 200-day moving average of $303.48. The company has a market capitalization of $1.28 trillion, a PE ratio of 228.87, a price-to-earnings-growth ratio of 12.87 and a beta of 2.06. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04. Tesla, Inc. has a 52-week low of $212.11 and a 52-week high of $488.54.

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 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 company had revenue of $22.50 billion for the quarter, compared to analyst estimates of $23.18 billion. During the same quarter last year, the company posted $0.52 earnings per share. The firm's quarterly revenue was down 11.8% on a year-over-year basis. On average, equities analysts predict that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on TSLA. Royal Bank Of Canada restated an "overweight" rating on shares of Tesla in a research report on Tuesday, July 29th. Baird R W downgraded shares of Tesla from a "strong-buy" rating to a "hold" rating in a research report on Monday, June 9th. Canaccord Genuity Group boosted their price objective on shares of Tesla from $303.00 to $333.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. The Goldman Sachs Group restated a "neutral" rating on shares of Tesla in a research report on Sunday, August 17th. Finally, Benchmark restated a "buy" rating and set a $475.00 price objective (up from $350.00) on shares of Tesla in a research report on Thursday, June 26th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, fourteen have given a Hold rating and nine have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $303.00.

Insider Buying and Selling

In related news, SVP Xiaotong Zhu sold 20,000 shares of the business's stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $363.75, for a total value of $7,275,000.00. Following the sale, the senior vice president owned 47,600 shares of the company's stock, valued at $17,314,500. The trade was a 29.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Vaibhav Taneja sold 2,606 shares of the business's stock in a transaction on Monday, September 8th. The stock was sold at an average price of $352.38, for a total transaction of $918,302.28. Following the completion of the sale, the chief financial officer directly owned 9,856 shares in the company, 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 have sold a total of 148,606 shares of company stock valued at $51,999,662 over the last 90 days. 20.70% of the stock is owned by 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.

Want to see what other hedge funds are holding TSLA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tesla, Inc. (NASDAQ:TSLA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.