Phoenix Financial Ltd. Decreases Stake in Tesla, Inc. (NASDAQ:TSLA)

Key Points

• Phoenix Financial Ltd. reduced its holdings in Tesla, Inc. by 5.5% in the first quarter, now owning 59,458 shares, valued at approximately $15.42 million.
• Analysts have mixed views on Tesla, with Goldman Sachs lowering its price target from $315 to $285, while Bank of America raised its target from $305 to $341, maintaining a "neutral" rating.
• Tesla reported an earnings miss for the latest quarter, with $0.40 EPS compared to a consensus of $0.43 EPS, and revenue declining by 11.8% year-over-year.

Phoenix Financial Ltd. lowered its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 5.5% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 59,458 shares of the electric vehicle producer's stock after selling 3,474 shares during the quarter. Phoenix Financial Ltd.'s holdings in Tesla were worth $15,423,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Eagle Capital Management LLC bought a new stake in Tesla in the 4th quarter worth $331,000. Brighton Jones LLC lifted its holdings in shares of Tesla by 11.8% during the fourth 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 lifted its stake in shares of Tesla by 21.2% in 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 purchasing an additional 931 shares in the last quarter. Mascagni Wealth Management Inc. acquired a new stake in shares of Tesla in the fourth quarter valued at $346,000. Finally, Highview Capital Management LLC DE acquired a new position in Tesla in the 4th quarter worth about $2,367,000. Institutional investors own 66.20% of the company's stock.

Tesla Price Performance

NASDAQ TSLA traded up $11.61 on Monday, reaching $327.67. The company's stock had a trading volume of 74,598,612 shares, compared to its average volume of 108,238,672. The business has a 50-day moving average price of $324.70 and a 200 day moving average price of $313.53. Tesla, Inc. has a 52 week low of $182.00 and a 52 week high of $488.54. The firm has a market cap of $1.06 trillion, a PE ratio of 189.27, a price-to-earnings-growth ratio of 9.93 and a beta of 2.39. 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 posted 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). The firm had revenue of $22.50 billion during the quarter, compared to the consensus estimate of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%. The business's revenue was down 11.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.52 EPS. Sell-side analysts expect that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Transactions at Tesla

In related news, CFO Vaibhav Taneja sold 6,000 shares of the firm's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $341.02, for a total transaction of $2,046,120.00. Following the sale, the chief financial officer directly owned 1,950 shares in the company, valued at approximately $664,989. This trade represents a 75.47% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Kimbal Musk sold 91,588 shares of the company's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $357.39, for a total value of $32,732,635.32. Following the completion of the sale, the director owned 1,463,220 shares of the company's stock, valued at approximately $522,940,195.80. This trade represents a 5.89% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 835,509 shares of company stock valued at $279,420,485 over the last three months. 20.70% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Wedbush reiterated an "outperform" rating and set a $500.00 target price on shares of Tesla in a research note on Tuesday, July 22nd. Baird R W lowered Tesla from a "strong-buy" rating to a "hold" rating in a research report on Monday, June 9th. Cfra Research cut shares of Tesla from a "moderate buy" rating to a "hold" rating in a research note on Tuesday, April 22nd. Mizuho lowered their price objective on shares of Tesla from $390.00 to $375.00 and set an "outperform" rating for the company in a research report on Tuesday, July 8th. Finally, Argus restated a "hold" rating on shares of Tesla in a research note on Monday, June 9th. Ten investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $302.75.

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.