Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Alberta Investment Management Corp

Key Points

• Alberta Investment Management Corp reduced its stake in Tesla by 17.1%, selling 6,245 shares, and now holds 30,200 shares valued at approximately $7.83 million.
• Tesla's latest earnings report showed a missed earnings per share estimate of $0.40 against a forecast of $0.43, with revenues down 11.8% year-over-year.
• Insider trading activity revealed significant sales, including Director Ira Matthew Ehrenpreis selling 477,572 shares valued at over $170 million.

Alberta Investment Management Corp lessened its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 17.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,200 shares of the electric vehicle producer's stock after selling 6,245 shares during the period. Alberta Investment Management Corp's holdings in Tesla were worth $7,827,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in TSLA. Eagle Capital Management LLC acquired a new position in shares of Tesla in the fourth quarter valued at approximately $331,000. Brighton Jones LLC increased its stake in shares of Tesla by 11.8% during the fourth quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer's stock worth $35,509,000 after acquiring an additional 9,293 shares during the period. Revolve Wealth Partners LLC raised its holdings in Tesla by 21.2% during the fourth quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer's stock worth $2,147,000 after purchasing an additional 931 shares in the last quarter. Mascagni Wealth Management Inc. acquired a new stake in Tesla in the fourth quarter valued at about $346,000. Finally, Highview Capital Management LLC DE purchased a new stake in Tesla in the 4th quarter valued at approximately $2,367,000. Hedge funds and other institutional investors own 66.20% of the company's stock.

Tesla Trading Down 1.8%

Shares of TSLA opened at $302.63 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55. Tesla, Inc. has a 12 month low of $182.00 and a 12 month high of $488.54. The stock has a market cap of $976.12 billion, a PE ratio of 174.93, a P/E/G ratio of 10.83 and a beta of 2.33. The stock's 50-day moving average is $322.22 and its two-hundred day moving average is $311.84.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly 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 return on equity of 7.98% and a net margin of 6.54%. The company had revenue of $22.50 billion during the quarter, compared to analysts' expectations of $23.18 billion. During the same quarter 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. Equities analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Activity

In other Tesla news, 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 transaction, the director owned 855,394 shares in the company, valued at $305,632,276.20. The trade was a 35.83% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Kimbal Musk sold 91,588 shares of the firm's stock in a transaction dated Tuesday, May 27th. The shares were 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. This represents a 5.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 719,119 shares of company stock valued at $246,186,549 in the last 90 days. Company insiders own 20.70% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on TSLA. Raymond James Financial cut Tesla to an "outperform" rating in a report on Tuesday, April 22nd. Royal Bank Of Canada reissued an "overweight" rating on shares of Tesla in a report on Tuesday. Glj Research restated a "sell" rating on shares of Tesla in a research report on Thursday, July 24th. Wedbush reiterated an "outperform" rating and issued a $500.00 price target on shares of Tesla in a report on Tuesday, July 22nd. Finally, Benchmark reissued a "buy" rating and set a $475.00 price objective (up previously from $350.00) on shares of Tesla in a report on Thursday, June 26th. Ten analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $303.31.

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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