Mountain Capital Investment Advisors Inc. Cuts Position in Tesla, Inc. $TSLA

Key Points

• Mountain Capital Investment Advisors Inc. reduced its holdings in Tesla by 5.7%, owning 14,484 shares worth approximately $4.36 million after selling 868 shares during the second quarter.
• Several other institutional investors, including Vanguard Group and Goldman Sachs, significantly increased their positions in Tesla, highlighting a strong overall confidence among institutional investors despite recent adjustments.
• Tesla's recent earnings report indicated a miss on EPS estimates, with a reported $0.40 EPS falling short of the anticipated $0.43, and revenues of $22.50 billion, down 11.8% year-over-year.

Mountain Capital Investment Advisors Inc. cut its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 5.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,484 shares of the electric vehicle producer's stock after selling 868 shares during the period. Tesla comprises about 0.8% of Mountain Capital Investment Advisors Inc.'s portfolio, making the stock its 11th biggest position. Mountain Capital Investment Advisors Inc.'s holdings in Tesla were worth $4,355,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of TSLA. Vanguard Group Inc. boosted its position in shares of Tesla by 1.5% in the 1st 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 during the period. Goldman Sachs Group Inc. lifted its position in 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 purchasing an additional 20,291,139 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Tesla by 4.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 18,174,941 shares of the electric vehicle producer's stock valued at $4,710,218,000 after buying an additional 849,091 shares in the last quarter. Amundi increased its holdings in shares of Tesla by 29.4% in the 1st 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, Invesco Ltd. boosted its stake in shares of Tesla by 17.6% during the 1st quarter. Invesco Ltd. now owns 14,786,414 shares of the electric vehicle producer's stock worth $3,832,047,000 after acquiring an additional 2,211,300 shares in the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Tesla Trading Up 2.5%

NASDAQ:TSLA opened at $439.31 on Monday. The stock has a fifty day simple moving average of $387.54 and a 200 day simple moving average of $334.06. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a 1-year low of $212.11 and a 1-year high of $488.54. The firm has a market capitalization of $1.46 trillion, a price-to-earnings ratio of 253.94, a price-to-earnings-growth ratio of 15.79 and a beta of 2.08.

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

Insider Buying and Selling at Tesla

In other news, SVP Xiaotong Zhu sold 20,000 shares of the company's stock in a transaction that occurred 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 sale, the senior vice president directly owned 47,600 shares in the company, valued at approximately $17,314,500. This represents a 29.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Vaibhav Taneja sold 2,606 shares of the business's stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $352.38, for a total transaction of $918,302.28. Following the completion of the transaction, the chief financial officer owned 9,856 shares in the company, valued at approximately $3,473,057.28. This trade represents a 20.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 202,606 shares of company stock valued at $75,588,902 in the last 90 days. 19.90% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms recently issued reports on TSLA. JPMorgan Chase & Co. upped their target price on Tesla from $115.00 to $150.00 in a research note on Friday, October 3rd. BNP Paribas Exane began coverage on Tesla in a research report on Thursday. They issued an "underperform" rating and a $307.00 target price on the stock. Melius began coverage on shares of Tesla in a research report on Monday, October 13th. They issued a "buy" rating and a $520.00 price objective for the company. William Blair reaffirmed a "market perform" rating on shares of Tesla in a research report on Friday, September 5th. Finally, Barclays reiterated a "negative" rating and set a $350.00 price objective (up from $275.00) on shares of Tesla in a research note on Thursday. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, twelve have assigned a Hold rating and ten have given a Sell rating to the company. According to data from MarketBeat.com, Tesla currently has an average rating of "Hold" and an average target price of $363.54.

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.

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