Quantitative Investment Management LLC Has $7.02 Million Position in Tesla, Inc. $TSLA

Key Points

• Quantitative Investment Management LLC reduced its holdings in Tesla, Inc. by 70%, now owning 27,076 shares worth approximately $7.02 million after selling 63,076 shares in the first quarter.
• Tesla reported $22.50 billion in revenue for the last quarter, missing estimates and experiencing an 11.8% decline compared to the previous year, alongside an EPS of $0.40.
• Currently, institutional investors and hedge funds own 66.20% of Tesla's stock, reflecting a shift in shareholder dynamics with several firms increasing their positions significantly.

Quantitative Investment Management LLC lowered its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 70.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 27,076 shares of the electric vehicle producer's stock after selling 63,076 shares during the quarter. Quantitative Investment Management LLC's holdings in Tesla were worth $7,017,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of TSLA. Cherry Tree Wealth Management LLC grew its holdings in Tesla by 86.3% during the first quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after purchasing an additional 44 shares during the period. First PREMIER Bank grew its holdings in 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 purchasing an additional 42 shares during the period. Newton One Investments LLC grew its holdings in Tesla by 250.0% during the first quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock valued at $27,000 after purchasing an additional 75 shares during the period. Arcadia Investment Management Corp MI acquired a new position in Tesla during the first quarter valued at approximately $27,000. Finally, True Wealth Design LLC grew its holdings in Tesla by 79.5% during the fourth 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. Institutional investors and hedge funds own 66.20% of the company's stock.

Tesla Stock Performance

Shares of TSLA stock opened at $340.01 on Friday. 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's fifty day simple moving average is $321.27 and its 200-day simple moving average is $303.08. Tesla, Inc. has a 12 month low of $202.59 and a 12 month high of $488.54. The firm has a market cap of $1.10 trillion, a PE ratio of 196.54, a P/E/G ratio of 11.82 and a beta of 2.33.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its quarterly 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 return on equity of 7.98% and a net margin of 6.54%.The firm had revenue of $22.50 billion for the quarter, compared to the consensus estimate of $23.18 billion. During the same period last year, the company posted $0.52 earnings per share. The business's revenue was down 11.8% compared to the same quarter last year. Equities research analysts expect that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently weighed in on TSLA. William Blair cut shares of Tesla from an "outperform" rating to a "market perform" rating in a report on Monday, July 7th. Piper Sandler reiterated an "overweight" rating and issued a $400.00 price target on shares of Tesla in a report on Tuesday, June 10th. The Goldman Sachs Group reiterated a "neutral" rating on shares of Tesla in a report on Sunday, August 17th. Baird R W cut shares of Tesla from a "strong-buy" rating to a "hold" rating in a report on Monday, June 9th. Finally, Guggenheim reiterated a "sell" rating and issued a $175.00 price target on shares of Tesla in a report on Wednesday, July 23rd. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, fifteen have given a Hold rating and nine have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $303.31.

Insider Activity

In other Tesla news, SVP Xiaotong Zhu sold 15,000 shares of the company's stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $323.81, for a total transaction of $4,857,150.00. Following the sale, the senior vice president directly owned 67,600 shares of the company's stock, valued at approximately $21,889,556. This represents a 18.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of the company's 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 in the company, valued at $305,632,276.20. This trade represents a 35.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 599,724 shares of company stock valued at $213,126,501. 20.70% of the stock is owned by insiders.

Tesla Company 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.

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