Mutual of America Capital Management LLC Sells 4,322 Shares of Tesla, Inc. $TSLA

Key Points

• Mutual of America Capital Management LLC reduced its stake in Tesla by 1.3%, selling 4,322 shares, and now holds 321,314 shares valued at approximately $102 million.
• Goldman Sachs significantly increased its Tesla holdings by 322.1% during the first quarter, now owning over 26 million shares worth nearly $6.9 billion.
• Tesla's quarterly earnings report showed a miss on EPS with $0.40 reported versus $0.43 expected, and revenue decreased 11.8% year-over-year to $22.50 billion.

Mutual of America Capital Management LLC reduced its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 1.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 321,314 shares of the electric vehicle producer's stock after selling 4,322 shares during the quarter. Tesla comprises approximately 1.1% of Mutual of America Capital Management LLC's portfolio, making the stock its 10th largest holding. Mutual of America Capital Management LLC's holdings in Tesla were worth $102,069,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of TSLA. Goldman Sachs Group Inc. raised its stake in Tesla by 322.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer's stock worth $6,891,201,000 after acquiring an additional 20,291,139 shares in the last quarter. Nuveen LLC purchased a new position in Tesla during the 1st quarter worth $3,247,619,000. Kingstone Capital Partners Texas LLC increased its stake in Tesla by 581,880.5% in the second quarter. Kingstone Capital Partners Texas LLC now owns 6,436,704 shares of the electric vehicle producer's stock valued at $2,044,683,000 after purchasing an additional 6,435,598 shares during the period. Amundi increased its stake in Tesla by 29.4% in 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 during the period. Finally, Vanguard Group Inc. increased its stake in Tesla by 1.5% in 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 during the period. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Tesla Stock Up 2.5%

TSLA stock opened at $439.31 on Friday. The company has a market cap of $1.46 trillion, a P/E ratio of 253.94, a P/E/G ratio of 15.79 and a beta of 2.08. Tesla, Inc. has a 52 week low of $212.11 and a 52 week high of $488.54. The company's 50-day moving average price is $387.54 and its 200 day moving average price is $333.60. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings data 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 for the quarter, compared to analysts' expectations of $23.18 billion. During the same period in the prior year, the firm posted $0.52 EPS. The firm's quarterly revenue was down 11.8% on a year-over-year basis. On average, research analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have commented on TSLA. Barclays restated a "negative" rating and issued a $350.00 price objective (up from $275.00) on shares of Tesla in a research note on Thursday. Morgan Stanley reaffirmed an "overweight" rating on shares of Tesla in a report on Wednesday. Piper Sandler lifted their target price on shares of Tesla from $400.00 to $500.00 and gave the company an "overweight" rating in a report on Monday, September 22nd. The Goldman Sachs Group lifted their target price on shares of Tesla from $395.00 to $425.00 and gave the company a "neutral" rating in a report on Friday, October 3rd. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Tesla in a report on Thursday, July 24th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, twelve have issued a Hold rating and ten have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $363.54.

Insider Buying and Selling at Tesla

In other Tesla news, Director James R. Murdoch sold 60,000 shares of the company's stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $422.68, for a total value of $25,360,800.00. Following the sale, the director owned 637,031 shares of the company's stock, valued at $269,260,263.08. This represents a 8.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Xiaotong Zhu sold 20,000 shares of the company's stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the completion of the sale, 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 disclosure for this sale can be found here. Insiders have sold 202,606 shares of company stock valued at $75,588,902 over the last quarter. Corporate insiders own 19.90% of the company's stock.

About Tesla

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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