J.Safra Asset Management Corp Cuts Stock Position in Tesla, Inc. $TSLA

Key Points

• J.Safra Asset Management Corp reduced its stake in Tesla by 9.3%, holding 12,765 shares valued at approximately $4.13 million as of its latest SEC filing.
• Tesla reported quarterly earnings of $0.40 EPS, missing analysts' expectations of $0.43, alongside revenue of $22.50 billion, down 11.8% year-over-year.
• Insider transactions included significant sales by SVP Xiaotong Zhu and Director James R. Murdoch, with Zhu selling 20,000 shares and Murdoch selling 120,000 shares recently.

J.Safra Asset Management Corp lowered its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 9.3% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 12,765 shares of the electric vehicle producer's stock after selling 1,307 shares during the period. Tesla accounts for about 0.3% of J.Safra Asset Management Corp's holdings, making the stock its 25th largest holding. J.Safra Asset Management Corp's holdings in Tesla were worth $4,131,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Means Investment CO. Inc. grew 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 worth $5,984,000 after buying an additional 6,323 shares during the last quarter. Siren L.L.C. purchased a new stake in shares of Tesla in the 1st quarter worth approximately $2,332,000. Zuckerman Investment Group LLC grew its stake in shares of Tesla by 6.9% in the 1st quarter. Zuckerman Investment Group LLC now owns 12,748 shares of the electric vehicle producer's stock worth $3,304,000 after buying an additional 826 shares during the last quarter. Keystone Global Partners LLC purchased a new stake in shares of Tesla in the 1st quarter worth approximately $594,000. Finally, Strs Ohio purchased a new stake in shares of Tesla in the 1st quarter worth approximately $205,495,000. Hedge funds and other institutional investors own 66.20% of the company's stock.

Tesla Stock Performance

TSLA stock opened at $435.15 on Thursday. The company has a market cap of $1.45 trillion, a P/E ratio of 251.53, a price-to-earnings-growth ratio of 15.47 and a beta of 2.08. Tesla, Inc. has a 1 year low of $212.11 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 stock's fifty day moving average price is $383.21 and its 200-day moving average price is $330.90.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.43 by ($0.03). The firm had revenue of $22.50 billion during 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 business's quarterly revenue was down 11.8% on a year-over-year basis. During the same quarter last year, the business earned $0.52 earnings per share. On average, equities analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Transactions at Tesla

In other news, SVP Xiaotong Zhu sold 20,000 shares of the firm's stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $363.75, for a total value of $7,275,000.00. Following the transaction, the senior vice president directly owned 47,600 shares in the company, valued at $17,314,500. This trade represents a 29.59% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director James R. Murdoch sold 120,000 shares of Tesla stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $350.29, for a total value of $42,034,800.00. Following the transaction, the director owned 697,031 shares in the company, valued at $244,162,988.99. This trade 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 202,606 shares of company stock worth $75,588,902 in the last ninety days. Insiders own 19.90% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on TSLA. Daiwa Capital Markets restated a "neutral" rating on shares of Tesla in a research note on Sunday, July 27th. TD Cowen lifted their target price on Tesla from $374.00 to $509.00 and gave the stock a "buy" rating in a report on Thursday, October 9th. Needham & Company LLC reissued a "hold" rating on shares of Tesla in a report on Thursday, July 24th. Canaccord Genuity Group lifted their target price on Tesla from $333.00 to $490.00 and gave the stock a "buy" rating in a report on Tuesday, September 30th. Finally, Industrial Alliance Securities set a $300.00 target price on Tesla in a report on Monday. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, thirteen have issued a Hold rating and eight have assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus 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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