Quantbot Technologies LP Sells 7,420 Shares of Tesla, Inc. $TSLA

Key Points

• Quantbot Technologies LP has reduced its stake in Tesla, Inc. by 32.5%, selling 7,420 shares to own a total of 15,392 shares valued at approximately $3.99 million.
• Other institutional investors have markedly increased their positions in Tesla, with Goldman Sachs growing its stake by 322.1%, now owning over 26.5 million shares valued at nearly $6.89 billion.
• Tesla's recent earnings report showed a decline in revenue, with a net margin of 6.54% and earnings per share of $0.40, missing expectations of $0.43.

Quantbot Technologies LP lowered its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 32.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,392 shares of the electric vehicle producer's stock after selling 7,420 shares during the period. Quantbot Technologies LP's holdings in Tesla were worth $3,989,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in TSLA. Goldman Sachs Group Inc. grew its position in shares of Tesla by 322.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer's stock valued at $6,891,201,000 after acquiring an additional 20,291,139 shares during the period. Nuveen LLC bought a new position in shares of Tesla in the 1st quarter valued at about $3,247,619,000. GAMMA Investing LLC lifted its stake in shares of Tesla by 27,378.6% during the 1st quarter. GAMMA Investing LLC now owns 9,812,316 shares of the electric vehicle producer's stock worth $2,542,960,000 after buying an additional 9,776,607 shares during the last quarter. Northern Trust Corp lifted its stake in shares of Tesla by 21.6% during the 4th quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer's stock worth $11,541,592,000 after buying an additional 5,075,418 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in shares of Tesla by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer's stock worth $63,983,418,000 after buying an additional 3,694,524 shares during the last quarter. Institutional investors own 66.20% of the company's stock.

Tesla Price Performance

Shares of Tesla stock opened at $329.31 on Wednesday. Tesla, Inc. has a twelve month low of $202.59 and a twelve month high of $488.54. 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 company has a 50-day simple moving average of $321.01 and a two-hundred day simple moving average of $304.26. The stock has a market capitalization of $1.06 trillion, a price-to-earnings ratio of 190.35, a price-to-earnings-growth ratio of 11.65 and a beta of 2.33.

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 the consensus estimate of $0.43 by ($0.03). Tesla had a return on equity of 7.98% and a net margin of 6.54%.The business had revenue of $22.50 billion during the quarter, compared to analyst estimates of $23.18 billion. During the same quarter last year, the firm earned $0.52 EPS. Tesla's revenue for the quarter was down 11.8% compared to the same quarter last year. Analysts forecast that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Activity

In other Tesla news, Director Ira Matthew Ehrenpreis sold 477,572 shares of the firm's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $357.30, for a total value of $170,636,475.60. Following the transaction, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kimbal Musk sold 91,588 shares of the firm's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $357.39, for a total transaction of $32,732,635.32. Following the completion of the transaction, the director directly owned 1,463,220 shares in the company, valued at approximately $522,940,195.80. This represents a 5.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 599,724 shares of company stock valued at $213,126,501 in the last 90 days. 20.70% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have recently issued reports on TSLA shares. Benchmark restated a "buy" rating and set a $475.00 target price (up previously from $350.00) on shares of Tesla in a research note on Thursday, June 26th. HSBC restated a "reduce" rating and set a $120.00 target price on shares of Tesla in a research note on Thursday, July 3rd. Guggenheim restated a "sell" rating and set a $175.00 target price on shares of Tesla in a research note on Wednesday, July 23rd. Canaccord Genuity Group raised their target price on shares of Tesla from $303.00 to $333.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Finally, Morgan Stanley restated an "overweight" rating and set a $410.00 target price on shares of Tesla in a research note on Friday, June 6th. One 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 company presently has an average rating of "Hold" and a consensus price target of $303.31.

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.

Want to see what other hedge funds are holding TSLA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tesla, Inc. (NASDAQ:TSLA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.