Tesla, Inc. (NASDAQ:TSLA) Holdings Lowered by Mill Creek Capital Advisors LLC

Key Points

• Mill Creek Capital Advisors LLC reduced its stake in Tesla, Inc. by 12.9% during the first quarter, now owning 18,702 shares valued at approximately $4.8 million.
• Other hedge funds have increased their stakes significantly, with Cherry Tree Wealth Management LLC raising its investment by 86.3%, while Newton One Investments LLC increased by 250.0%.
• Tesla reported a net margin of 6.54% and a year-over-year revenue decline of 11.8%, with earnings per share of $0.40, missing analyst estimates by $0.03.

Mill Creek Capital Advisors LLC trimmed its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 12.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 18,702 shares of the electric vehicle producer's stock after selling 2,773 shares during the period. Mill Creek Capital Advisors LLC's holdings in Tesla were worth $4,847,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Cherry Tree Wealth Management LLC lifted its stake in Tesla by 86.3% in the 1st quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock worth $25,000 after acquiring an additional 44 shares in the last quarter. First PREMIER Bank lifted its stake in Tesla by 79.2% in the 1st quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock worth $25,000 after acquiring an additional 42 shares in the last quarter. Newton One Investments LLC lifted its stake in Tesla by 250.0% in the 1st quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock worth $27,000 after acquiring an additional 75 shares in the last quarter. Arcadia Investment Management Corp MI purchased a new stake in Tesla in the 1st quarter worth about $27,000. Finally, True Wealth Design LLC lifted its stake in Tesla by 79.5% in the 4th quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock worth $28,000 after acquiring an additional 31 shares in the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Price Performance

Shares of TSLA stock opened at $330.56 on Friday. The stock's fifty day simple moving average is $320.41 and its 200 day simple moving average is $305.24. 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 $1.07 trillion, a price-to-earnings ratio of 191.08, a P/E/G ratio of 11.49 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.

Analyst Ratings Changes

Several equities research analysts recently issued reports on TSLA shares. Bank of America increased their price objective on Tesla from $305.00 to $341.00 and gave the stock a "neutral" rating in a research note on Monday, July 21st. UBS Group set a $290.00 price target on Tesla in a research note on Monday, June 30th. JPMorgan Chase & Co. cut their price target on Tesla from $120.00 to $115.00 and set an "underweight" rating for the company in a research note on Wednesday, April 23rd. Truist Financial set a $280.00 price target on Tesla in a research note on Tuesday, April 22nd. Finally, China Renaissance reaffirmed a "hold" rating and set a $349.00 price target on shares of Tesla in a research note on Friday, July 25th. Ten equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Tesla has a consensus rating of "Hold" and an average price target of $303.31.

Insider Buying and Selling

In other news, Director Ira Matthew Ehrenpreis sold 477,572 shares of the 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 owned 855,394 shares in the company, valued at approximately $305,632,276.20. This represents a 35.83% 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 Kimbal Musk sold 91,588 shares of the 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 in the company, valued at $522,940,195.80. The trade was a 5.89% 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 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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