Plato Investment Management Ltd Sells 2,601 Shares of Tesla, Inc. $TSLA

Key Points

• Plato Investment Management Ltd reduced its stake in Tesla, Inc. by 4.1%, selling 2,601 shares during the first quarter and now holds a total of 60,586 shares.
• Tesla reported a quarterly earnings miss, earning $0.40 per share compared to the estimated $0.43, with revenue of $22.50 billion down 11.8% year-over-year.
• The stock currently has an average price target of $303.00 and is rated predominantly as a "Hold" by analysts, with one "Strong Buy" rating among seven different ratings categories.

Plato Investment Management Ltd reduced its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 4.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 60,586 shares of the electric vehicle producer's stock after selling 2,601 shares during the quarter. Tesla comprises about 1.3% of Plato Investment Management Ltd's portfolio, making the stock its 8th biggest position. Plato Investment Management Ltd's holdings in Tesla were worth $15,872,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TSLA. Acorn Wealth Advisors LLC grew its stake in shares of Tesla by 1.9% in the first quarter. Acorn Wealth Advisors LLC now owns 1,901 shares of the electric vehicle producer's stock worth $493,000 after purchasing an additional 36 shares during the last quarter. Solutions 4 Wealth Ltd raised its holdings in Tesla by 2.0% in the 1st quarter. Solutions 4 Wealth Ltd now owns 1,815 shares of the electric vehicle producer's stock worth $470,000 after acquiring an additional 36 shares during the last quarter. Capital Management Associates Inc raised its holdings in Tesla by 3.4% in the 1st quarter. Capital Management Associates Inc now owns 1,166 shares of the electric vehicle producer's stock worth $302,000 after acquiring an additional 38 shares during the last quarter. Graney & King LLC raised its stake in Tesla by 18.4% during the 1st quarter. Graney & King LLC now owns 245 shares of the electric vehicle producer's stock valued at $63,000 after buying an additional 38 shares during the last quarter. Finally, Mraz Amerine & Associates Inc. raised its stake in Tesla by 3.8% during the 1st quarter. Mraz Amerine & Associates Inc. now owns 1,054 shares of the electric vehicle producer's stock valued at $278,000 after buying an additional 39 shares during the last quarter. 66.20% of the stock is owned by institutional investors.

Tesla Trading Up 0.2%

Shares of Tesla stock opened at $346.97 on Wednesday. The firm has a market cap of $1.12 trillion, a price-to-earnings ratio of 200.56, a PEG ratio of 12.08 and a beta of 2.06. The business has a 50-day moving average price of $325.50 and a 200-day moving average price of $302.26. 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 twelve month low of $212.11 and a twelve month high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its quarterly earnings data 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). The firm had revenue of $22.50 billion for the quarter, compared to analysts' expectations of $23.18 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. The company's revenue for the quarter was down 11.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.52 EPS. Equities research analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Activity

In related news, SVP Xiaotong Zhu sold 15,000 shares of the stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $323.81, for a total value 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. This trade represents a 18.16% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $292.89, for a total transaction of $1,171,560.00. Following the completion of the transaction, the chief financial officer directly owned 5,924 shares of the company's stock, valued at approximately $1,735,080.36. The trade was a 40.31% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 143,606 shares of company stock worth $49,581,812 over the last 90 days. Corporate insiders own 20.70% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on TSLA. Piper Sandler reiterated an "overweight" rating and set a $400.00 target price on shares of Tesla in a research note on Tuesday, June 10th. Baird R W lowered shares of Tesla from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 9th. Daiwa Capital Markets reiterated a "neutral" rating on shares of Tesla in a research note on Sunday, July 27th. Argus reiterated a "hold" rating on shares of Tesla in a research note on Monday, June 9th. Finally, William Blair reiterated a "market perform" rating on shares of Tesla in a research note on Friday. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, fourteen have assigned a Hold rating and nine have given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $303.00.

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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