Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Neuberger Berman Group LLC

Key Points

• Neuberger Berman Group LLC reduced its position in Tesla by 3.5%, holding 276,329 shares worth approximately $71.61 million after selling 10,109 shares in Q1.
• Tesla reported Q2 earnings of $0.40 per share, missing expectations, and its revenue decreased by 11.8% year-over-year.
• Insider sales were significant, with Director Kimbal Musk selling 91,588 shares and holding a total valued at about $522.94 million after the sale.

Neuberger Berman Group LLC decreased its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 3.5% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 276,329 shares of the electric vehicle producer's stock after selling 10,109 shares during the quarter. Neuberger Berman Group LLC's holdings in Tesla were worth $71,613,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of TSLA. Eagle Capital Management LLC purchased a new position in shares of Tesla in the 4th quarter worth approximately $331,000. Brighton Jones LLC boosted its holdings in shares of Tesla by 11.8% in the 4th quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer's stock worth $35,509,000 after purchasing an additional 9,293 shares during the period. Revolve Wealth Partners LLC boosted its holdings in Tesla by 21.2% during the 4th quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer's stock valued at $2,147,000 after acquiring an additional 931 shares during the period. Mascagni Wealth Management Inc. purchased a new position in Tesla during the 4th quarter valued at $346,000. Finally, Highview Capital Management LLC DE purchased a new position in Tesla during the 4th quarter valued at $2,367,000. Hedge funds and other institutional investors own 66.20% of the company's stock.

Insiders Place Their Bets

In other Tesla news, Director Ira Matthew Ehrenpreis sold 477,572 shares of the stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $357.30, for a total transaction of $170,636,475.60. Following the transaction, the director owned 855,394 shares in the company, valued at approximately $305,632,276.20. This represents a 35.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Xiaotong Zhu sold 15,000 shares of the stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $323.81, for a total value of $4,857,150.00. Following the transaction, the senior vice president owned 67,600 shares in the company, valued at $21,889,556. This represents a 18.16% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 599,724 shares of company stock valued at $213,126,501. 20.70% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on TSLA shares. Canaccord Genuity Group boosted their price objective on Tesla from $303.00 to $333.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Baird R W cut Tesla from a "strong-buy" rating to a "hold" rating in a report on Monday, June 9th. Stifel Nicolaus set a $450.00 price objective on Tesla and gave the company a "buy" rating in a report on Thursday, April 24th. Mizuho dropped their price objective on Tesla from $390.00 to $375.00 and set an "outperform" rating for the company in a report on Tuesday, July 8th. Finally, Truist Financial set a $280.00 price objective on Tesla in a report on Tuesday, April 22nd. Ten investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $303.31.

Tesla Stock Down 1.5%

Shares of TSLA traded down $5.02 during trading hours on Friday, hitting $330.56. The company had a trading volume of 74,099,060 shares, compared to its average volume of 105,965,813. The company has a market capitalization of $1.07 trillion, a PE ratio of 191.08, a price-to-earnings-growth ratio of 11.80 and a beta of 2.33. 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, Inc. has a one year low of $202.59 and a one year high of $488.54. The company's fifty day moving average price is $319.71 and its two-hundred day moving average price is $306.28.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to analyst estimates of $23.18 billion. During the same period in the prior year, the company earned $0.52 earnings per share. The company's quarterly revenue was down 11.8% on a year-over-year basis. As a group, equities analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

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.