Strategy Capital LLC Trims Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Key Points

• Strategy Capital LLC reduced its stake in Tesla, Inc. by 6.0%, selling 9,575 shares and retaining a total of 149,914 shares, worth approximately $38.85 million.
• Insider trading activities included Kimbal Musk selling 91,588 shares for over $32 million, which represents a 5.89% decrease in his ownership, while CFO Vaibhav Taneja sold 6,000 shares, reducing their stake by 75.47%.
• Tesla's stock recently traded at $339.03, with a market capitalization of $1.09 trillion and an average analyst rating of "Hold" with a target price of $303.31.

Strategy Capital LLC trimmed its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 6.0% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 149,914 shares of the electric vehicle producer's stock after selling 9,575 shares during the period. Tesla accounts for approximately 3.7% of Strategy Capital LLC's holdings, making the stock its 10th largest position. Strategy Capital LLC's holdings in Tesla were worth $38,852,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Cherry Tree Wealth Management LLC boosted its holdings in shares of Tesla by 86.3% during the 1st quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock worth $25,000 after buying an additional 44 shares during the period. First PREMIER Bank boosted its holdings in shares of Tesla by 79.2% during the 1st quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock worth $25,000 after buying an additional 42 shares during the period. Newton One Investments LLC boosted its holdings in shares of Tesla by 250.0% during the 1st quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock worth $27,000 after buying an additional 75 shares during the period. Arcadia Investment Management Corp MI bought a new stake in shares of Tesla during the 1st quarter worth $27,000. Finally, True Wealth Design LLC boosted its holdings in shares of Tesla by 79.5% during the 4th quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock worth $28,000 after buying an additional 31 shares during the period. 66.20% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

TSLA has been the subject of several research analyst reports. The Goldman Sachs Group cut their target price on shares of Tesla from $315.00 to $285.00 and set a "neutral" rating for the company in a research note on Friday, July 11th. Cantor Fitzgerald cut their target price on shares of Tesla from $425.00 to $355.00 and set an "overweight" rating for the company in a research note on Wednesday, April 23rd. Truist Financial set a $280.00 target price on shares of Tesla in a research note on Tuesday, April 22nd. Argus reiterated a "hold" rating on shares of Tesla in a research note on Monday, June 9th. Finally, Guggenheim reiterated a "sell" rating and set a $175.00 target price on shares of Tesla in a research note on Wednesday, July 23rd. Ten investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $303.31.

Tesla Price Performance

NASDAQ:TSLA traded down $3.80 during mid-day trading on Thursday, reaching $335.58. 74,640,981 shares of the company were exchanged, compared to its average volume of 106,159,734. Tesla, Inc. has a 12 month low of $202.59 and a 12 month high of $488.54. The company has a fifty day moving average of $318.69 and a 200 day moving average of $306.71. 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 $1.08 trillion, a PE ratio of 193.98, a PEG ratio of 11.85 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 EPS for the quarter, missing analysts' consensus estimates of $0.43 by ($0.03). Tesla had a return on equity of 7.98% and a net margin of 6.54%. The company 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 company earned $0.52 EPS. The firm's revenue was down 11.8% compared to the same quarter last year. On average, research analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Activity at Tesla

In other news, CFO Vaibhav Taneja sold 2,000 shares of the firm's stock in a transaction dated Tuesday, July 8th. The shares were sold at an average price of $300.00, for a total value of $600,000.00. Following the transaction, the chief financial officer owned 5,924 shares of the company's stock, valued at approximately $1,777,200. This trade represents a 25.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 transaction of $170,636,475.60. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. Insiders sold 602,724 shares of company stock worth $214,176,831 in the last quarter. Insiders own 20.70% of the company's stock.

About Tesla

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.