IPG Investment Advisors LLC Decreases Stake in Tesla, Inc. (NASDAQ:TSLA)

Key Points

• IPG Investment Advisors LLC has decreased its stake in Tesla by 28.8%, now holding 17,396 shares valued at approximately $4.5 million.
• Several institutional investors, including Eagle Capital Management LLC and Brighton Jones LLC, have modified their positions in Tesla, indicating active interest in the stock despite the recent decline in share values.
• Analysts have downgraded Tesla's stock ratings recently, with Mizuho lowering its price target from $390 to $375, while maintaining an "outperform" rating.

IPG Investment Advisors LLC lessened its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 28.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,396 shares of the electric vehicle producer's stock after selling 7,053 shares during the quarter. Tesla comprises about 1.0% of IPG Investment Advisors LLC's holdings, making the stock its 25th biggest holding. IPG Investment Advisors LLC's holdings in Tesla were worth $4,508,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of TSLA. Eagle Capital Management LLC purchased a new stake in shares of Tesla during the 4th quarter worth approximately $331,000. Brighton Jones LLC lifted its position in shares of Tesla by 11.8% during the 4th quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer's stock worth $35,509,000 after buying an additional 9,293 shares during the last quarter. Revolve Wealth Partners LLC lifted its position in shares of Tesla by 21.2% during the 4th quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer's stock worth $2,147,000 after buying an additional 931 shares during the last quarter. Mascagni Wealth Management Inc. purchased a new stake in Tesla in the 4th quarter valued at $346,000. Finally, Highview Capital Management LLC DE purchased a new stake in Tesla in the 4th quarter valued at $2,367,000. Hedge funds and other institutional investors own 66.20% of the company's stock.

Wall Street Analyst Weigh In

TSLA has been the subject of several research reports. Mizuho reduced their price target on shares of Tesla from $390.00 to $375.00 and set an "outperform" rating for the company in a research report on Tuesday, July 8th. Baird R W downgraded shares of Tesla from a "strong-buy" rating to a "hold" rating in a research report on Monday, June 9th. Cfra Research downgraded shares of Tesla from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, April 22nd. JPMorgan Chase & Co. reduced their price target on shares of Tesla from $120.00 to $115.00 and set an "underweight" rating for the company in a research report on Wednesday, April 23rd. Finally, UBS Group set a $290.00 price target on shares of Tesla in a research report on Monday, June 30th. Ten analysts have rated the stock with a sell rating, fifteen have given a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Tesla currently has a consensus rating of "Hold" and an average target price of $303.31.

Insider Buying and Selling at Tesla

In related news, Director Kimbal Musk sold 91,588 shares of the stock in a transaction that occurred 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 owned 1,463,220 shares of the company's stock, valued at approximately $522,940,195.80. This represents a 5.89% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of the stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $357.30, for a total transaction of $170,636,475.60. Following the sale, the director directly owned 855,394 shares of the company's stock, valued at approximately $305,632,276.20. This trade represents a 35.83% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 719,119 shares of company stock worth $246,186,549 in the last quarter. Company insiders own 20.70% of the company's stock.

Tesla Trading Down 1.8%

Shares of TSLA stock opened at $302.63 on Monday. The firm has a market cap of $976.12 billion, a P/E ratio of 174.93, a PEG ratio of 10.63 and a beta of 2.33. Tesla, Inc. has a 1-year low of $182.00 and a 1-year high of $488.54. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55. The firm's 50-day simple moving average is $322.22 and its 200-day simple moving average is $310.31.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share for the quarter, missing the consensus estimate 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 company's revenue was down 11.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.52 earnings per share. As a group, equities analysts forecast that Tesla, Inc. will post 2.56 EPS for the current year.

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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