Qtron Investments LLC Cuts Holdings in Tesla, Inc. $TSLA

Key Points

• Qtron Investments LLC has reduced its stake in Tesla by 3.7%, holding $8.52 million worth of shares, which makes Tesla its 13th largest investment.
• Several institutional investors have increased their stakes in Tesla, with some reporting increases of up to 250% in the first quarter.
• Tesla's latest earnings report indicated earnings per share of $0.40, missing analysts' expectations, and the company experienced a 11.8% decline in quarterly revenue compared to the previous year.

Qtron Investments LLC reduced its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 3.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 32,858 shares of the electric vehicle producer's stock after selling 1,250 shares during the period. Tesla comprises 1.3% of Qtron Investments LLC's investment portfolio, making the stock its 13th largest position. Qtron Investments LLC's holdings in Tesla were worth $8,515,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in TSLA. Cherry Tree Wealth Management LLC grew its holdings in Tesla by 86.3% in the 1st quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock worth $25,000 after acquiring an additional 44 shares during the last quarter. 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 acquiring an additional 42 shares during the last quarter. Newton One Investments LLC boosted its holdings in shares of Tesla by 250.0% during the first quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock worth $27,000 after purchasing an additional 75 shares during the period. Arcadia Investment Management Corp MI bought a new stake in shares of Tesla in the first quarter worth about $27,000. Finally, True Wealth Design LLC increased its holdings in Tesla by 79.5% during the 4th quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock valued at $28,000 after purchasing an additional 31 shares during the period. Hedge funds and other institutional investors own 66.20% of the company's stock.

Insiders Place Their Bets

In related news, Director Ira Matthew Ehrenpreis sold 477,572 shares of the stock in a transaction 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 sale, the director directly owned 855,394 shares of the company's stock, valued at $305,632,276.20. This trade represents a 35.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Vaibhav Taneja sold 6,000 shares of the firm's stock in a transaction that occurred on 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 completion of the sale, the chief financial officer owned 1,950 shares in the company, valued at $664,989. This represents a 75.47% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 599,724 shares of company stock worth $213,126,501 over the last three months. Company insiders own 20.70% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on TSLA shares. Stifel Nicolaus set a $450.00 price objective on Tesla and gave the stock a "buy" rating in a report on Thursday, April 24th. Piper Sandler reaffirmed an "overweight" rating and issued a $400.00 price target on shares of Tesla in a research note on Tuesday, June 10th. Glj Research reissued a "sell" rating on shares of Tesla in a research report on Thursday, July 24th. Guggenheim reaffirmed a "sell" rating and issued a $175.00 target price on shares of Tesla in a research report on Wednesday, July 23rd. Finally, Baird R W cut shares of Tesla from a "strong-buy" rating to a "hold" rating in a research report on Monday, June 9th. 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $303.31.

Tesla Stock Down 1.2%

Shares of TSLA stock traded down $3.79 during trading hours on Thursday, hitting $320.11. 55,337,502 shares of the company's stock traded hands, compared to its average volume of 104,971,656. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07. The stock has a market cap of $1.03 trillion, a price-to-earnings ratio of 185.03, a PEG ratio of 11.45 and a beta of 2.33. The stock's fifty day simple moving average is $320.96 and its two-hundred day simple moving average is $304.40. 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 earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.03). The company 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 company's revenue was down 11.8% compared to the same quarter last year. During the same period last year, the firm posted $0.52 earnings per share. On average, analysts expect that Tesla, Inc. will post 2.56 EPS for the current year.

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.