Smartleaf Asset Management LLC Has $5.78 Million Position in Tesla, Inc. $TSLA

Key Points

• Smartleaf Asset Management LLC has reduced its stake in Tesla by 12.1%, now holding 21,929 shares worth approximately $5.78 million after selling part of its shares in the first quarter.
• Institutional investors currently own 66.20% of Tesla's stock, with significant changes including Goldman Sachs increasing its stake by 322.1% during the same period.
• Tesla reported a miss in earnings for the last quarter, with an EPS of $0.40 against an estimate of $0.43, and revenue of $22.50 billion, falling short of projected $23.18 billion.

Smartleaf Asset Management LLC reduced its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 12.1% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 21,929 shares of the electric vehicle producer's stock after selling 3,028 shares during the quarter. Smartleaf Asset Management LLC's holdings in Tesla were worth $5,779,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TSLA. Goldman Sachs Group Inc. lifted its holdings in 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 worth $6,891,201,000 after purchasing an additional 20,291,139 shares during the last quarter. Nuveen LLC bought a new position in Tesla in the 1st quarter worth approximately $3,247,619,000. GAMMA Investing LLC increased its position in Tesla by 27,378.6% in 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 period. Northern Trust Corp increased its position in Tesla by 21.6% in 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 period. Finally, Vanguard Group Inc. increased its position in Tesla by 1.5% in 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 period. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Tesla Price Performance

Shares of TSLA stock opened at $340.01 on Friday. The stock's fifty day simple moving average is $321.27 and its 200 day simple moving average is $303.60. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55. The firm has a market cap of $1.10 trillion, a price-to-earnings ratio of 196.54, a P/E/G ratio of 11.13 and a beta of 2.33. Tesla, Inc. has a one year low of $202.59 and a one year high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its quarterly 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 analyst estimates of $23.18 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. Tesla's quarterly revenue was down 11.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.52 EPS. On average, analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have commented on the company. China Renaissance reaffirmed a "hold" rating and issued a $349.00 price target on shares of Tesla in a research report on Friday, July 25th. HSBC reaffirmed a "reduce" rating and issued a $120.00 price target on shares of Tesla in a research report on Thursday, July 3rd. Canaccord Genuity Group lifted their price target on Tesla from $303.00 to $333.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. William Blair downgraded Tesla from an "outperform" rating to a "market perform" rating in a research report on Monday, July 7th. Finally, Royal Bank Of Canada restated an "overweight" rating on shares of Tesla in a research report on Tuesday, July 29th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, fifteen have assigned a Hold rating and nine have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $303.31.

Insider Buying and Selling

In related news, Director Kimbal Musk sold 91,588 shares of the business's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $357.39, for a total value of $32,732,635.32. Following the sale, the director owned 1,463,220 shares of the company's stock, valued at $522,940,195.80. The trade was a 5.89% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of the business's stock in a transaction on 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 completion of the sale, the director directly owned 855,394 shares in the company, valued at approximately $305,632,276.20. This represents a 35.83% decrease in their position. The disclosure for this sale can be found here. Insiders sold 599,724 shares of company stock worth $213,126,501 in the last quarter. Corporate insiders own 20.70% of the company's stock.

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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