Jacobs & Co. CA Sells 1,958 Shares of Tesla, Inc. $TSLA

Key Points

• Jacobs & Co. CA sold 1,958 shares of Tesla, reducing its stake by 28.1%, resulting in ownership of 5,007 shares valued at approximately $1.59 million.
• Tesla's latest quarterly earnings report revealed a missed EPS estimate of $0.40 compared to the expected $0.43, and revenue fell 11.8% year-over-year.
• Insider transactions included CFO Vaibhav Taneja selling 2,606 shares, while Director James R. Murdoch sold 120,000 shares, indicating significant movement by key executives within the company.

Jacobs & Co. CA lessened its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 28.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,007 shares of the electric vehicle producer's stock after selling 1,958 shares during the period. Jacobs & Co. CA's holdings in Tesla were worth $1,590,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Means Investment CO. Inc. lifted its stake in shares of Tesla by 37.7% in the 1st quarter. Means Investment CO. Inc. now owns 23,089 shares of the electric vehicle producer's stock valued at $5,984,000 after acquiring an additional 6,323 shares during the last quarter. Focus Financial Network Inc. increased its holdings in Tesla by 3.1% during the 1st quarter. Focus Financial Network Inc. now owns 22,467 shares of the electric vehicle producer's stock valued at $5,823,000 after purchasing an additional 670 shares during the period. Siren L.L.C. purchased a new position in Tesla during the 1st quarter valued at about $2,332,000. Zuckerman Investment Group LLC increased its holdings in Tesla by 6.9% during the 1st quarter. Zuckerman Investment Group LLC now owns 12,748 shares of the electric vehicle producer's stock valued at $3,304,000 after purchasing an additional 826 shares during the period. Finally, Keystone Global Partners LLC purchased a new position in Tesla during the 1st quarter valued at about $594,000. Institutional investors own 66.20% of the company's stock.

Tesla Stock Up 7.4%

TSLA stock opened at $395.94 on Friday. Tesla, Inc. has a fifty-two week low of $212.11 and a fifty-two week high of $488.54. The business's 50 day moving average price is $328.89 and its two-hundred day moving average price is $303.48. 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 company has a market capitalization of $1.28 trillion, a price-to-earnings ratio of 228.87, a price-to-earnings-growth ratio of 12.87 and a beta of 2.06.

Tesla (NASDAQ:TSLA - Get Free Report) last issued 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 return on equity of 7.98% and a net margin of 6.54%.The company had revenue of $22.50 billion during the quarter, compared to the consensus estimate of $23.18 billion. During the same period in the prior year, the firm earned $0.52 earnings per share. The business's revenue for the quarter was down 11.8% compared to the same quarter last year. As a group, analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Transactions at Tesla

In other news, CFO Vaibhav Taneja sold 2,606 shares of the business's stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $352.38, for a total value of $918,302.28. Following the sale, the chief financial officer directly owned 9,856 shares of the company's stock, valued at $3,473,057.28. The trade was a 20.91% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director James R. Murdoch sold 120,000 shares of the business's stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $350.29, for a total value of $42,034,800.00. Following the completion of the sale, the director directly owned 697,031 shares in the company, valued at approximately $244,162,988.99. This represents a 14.69% decrease in their ownership of the stock. 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 in the last ninety days. 20.70% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts recently issued reports on TSLA shares. Argus restated a "hold" rating on shares of Tesla in a report on Monday, June 9th. Bank of America boosted their price target on Tesla from $305.00 to $341.00 and gave the company a "neutral" rating in a report on Monday, July 21st. The Goldman Sachs Group restated a "neutral" rating on shares of Tesla in a report on Sunday, August 17th. Piper Sandler restated an "overweight" rating and set a $400.00 price target on shares of Tesla in a report on Tuesday, June 10th. Finally, Morgan Stanley restated an "overweight" rating and set a $410.00 price target on shares of Tesla in a report on Friday, September 5th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, fourteen have issued a Hold rating and nine have given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $303.00.

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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