Slow Capital Inc. Has $28.14 Million Stake in Tesla, Inc. $TSLA

Slow Capital Inc. cut its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 1.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 88,570 shares of the electric vehicle producer's stock after selling 1,430 shares during the period. Tesla makes up 3.4% of Slow Capital Inc.'s portfolio, making the stock its 6th largest position. Slow Capital Inc.'s holdings in Tesla were worth $28,135,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in TSLA. Cherry Tree Wealth Management LLC lifted its stake in Tesla by 86.3% in the first quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock worth $25,000 after purchasing 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 raised its stake 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 valued at $27,000 after acquiring an additional 75 shares during the last quarter. Arcadia Investment Management Corp MI bought a new position in shares of Tesla during the first quarter valued at about $27,000. Finally, Chelsea Counsel Co. raised its stake in shares of Tesla by 59.7% during the first quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer's stock valued at $28,000 after acquiring an additional 40 shares during the last quarter. 66.20% of the stock is owned by institutional investors.

Insider Buying and Selling at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 2,606 shares of the firm's stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $352.38, for a total transaction of $918,302.28. Following the completion of the transaction, the chief financial officer owned 9,856 shares of the company's stock, valued at approximately $3,473,057.28. This trade represents a 20.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director James R. Murdoch sold 120,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $350.29, for a total transaction of $42,034,800.00. Following the transaction, the director directly owned 697,031 shares of the company's stock, valued at $244,162,988.99. This represents a 14.69% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 202,606 shares of company stock valued at $75,588,902. Corporate insiders own 19.90% of the company's stock.

Tesla Price Performance

Shares of TSLA opened at $438.69 on Thursday. Tesla, Inc. has a fifty-two week low of $212.11 and a fifty-two week high of $488.54. The firm's 50-day simple moving average is $371.20 and its two-hundred day simple moving average is $325.56. The stock has a market cap of $1.46 trillion, a PE ratio of 253.58, a price-to-earnings-growth ratio of 15.92 and a beta of 2.08. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04.

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

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on TSLA. UBS Group set a $247.00 price objective on shares of Tesla in a research note on Monday. Bank of America upped their price objective on shares of Tesla from $305.00 to $341.00 and gave the company a "neutral" rating in a research note on Monday, July 21st. Piper Sandler upped their price objective on shares of Tesla from $400.00 to $500.00 and gave the company an "overweight" rating in a research note on Monday, September 22nd. Baird R W raised shares of Tesla from a "hold" rating to a "strong-buy" rating in a research note on Friday, September 19th. Finally, Canaccord Genuity Group upped their price objective on shares of Tesla from $333.00 to $490.00 and gave the company a "buy" rating in a research note on Tuesday, September 30th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, thirteen have assigned a Hold rating and eight have given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $345.70.

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.

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