Napa Wealth Management Cuts Position in Tesla, Inc. $TSLA

Key Points

• Napa Wealth Management significantly cut its stake in Tesla, Inc. by 73.3%, reducing its holdings to just 1,881 shares valued at $487,000.
• Other hedge funds like True Wealth Design and Cherry Tree Wealth Management increased their positions in Tesla, indicating mixed sentiment among institutional investors.
• Tesla reported earnings of $0.40 per share, missing analysts' estimates and showing an 11.8% decline in revenue compared to the previous year, with expectations of EPS at 2.56 for the current year.

Napa Wealth Management decreased its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 73.3% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 1,881 shares of the electric vehicle producer's stock after selling 5,174 shares during the period. Napa Wealth Management's holdings in Tesla were worth $487,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. True Wealth Design LLC raised its holdings in Tesla by 79.5% in the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock valued at $28,000 after buying an additional 31 shares during the period. Navigoe LLC purchased a new stake in shares of Tesla during the fourth quarter valued at approximately $37,000. Cherry Tree Wealth Management LLC raised its stake in shares of Tesla by 86.3% during the first quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after purchasing an additional 44 shares during the period. First PREMIER Bank raised its stake in shares of Tesla by 79.2% during the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after purchasing an additional 42 shares during the period. Finally, Marshall & Sterling Wealth Advisors Inc. purchased a new stake in shares of Tesla during the fourth quarter valued at approximately $39,000. Hedge funds and other institutional investors own 66.20% of the company's stock.

Insider Buying and Selling at Tesla

In other news, SVP Xiaotong Zhu sold 15,000 shares of the business's stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $323.81, for a total transaction of $4,857,150.00. Following the completion of the transaction, the senior vice president owned 67,600 shares of the company's stock, valued at approximately $21,889,556. The trade was a 18.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Vaibhav Taneja sold 6,000 shares of the business's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $341.02, for a total transaction of $2,046,120.00. Following the transaction, the chief financial officer directly owned 1,950 shares of the company's stock, valued at approximately $664,989. This trade represents a 75.47% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 599,724 shares of company stock worth $213,126,501. Company insiders own 20.70% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on TSLA. The Goldman Sachs Group reiterated a "neutral" rating on shares of Tesla in a research note on Sunday, August 17th. Needham & Company LLC reiterated a "hold" rating on shares of Tesla in a research note on Thursday, July 24th. Bank of America lifted their price objective on shares of Tesla from $305.00 to $341.00 and gave the company a "neutral" rating in a research note on Monday, July 21st. Royal Bank Of Canada restated an "overweight" rating on shares of Tesla in a research note on Tuesday, July 29th. Finally, William Blair lowered shares of Tesla from an "outperform" rating to a "market perform" rating in a research note on Monday, July 7th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, fifteen have given a Hold rating and nine have issued a Sell rating to the company. According to MarketBeat, Tesla currently has a consensus rating of "Hold" and an average target price of $303.31.

Tesla Stock Performance

Tesla stock opened at $340.01 on Friday. The company has a market cap of $1.10 trillion, a PE ratio of 196.54, a P/E/G ratio of 11.13 and a beta of 2.33. The company has a fifty day moving average price of $321.27 and a two-hundred day moving average price of $303.60. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55. Tesla, Inc. has a 12 month low of $202.59 and a 12 month high of $488.54.

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). The business had revenue of $22.50 billion during the quarter, compared to analyst estimates of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%.The business's revenue for the quarter was down 11.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.52 EPS. Research analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current year.

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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