Callan Family Office LLC Sells 10,117 Shares of Tesla, Inc. (NASDAQ:TSLA)

Key Points

• Callan Family Office LLC reduced its stake in Tesla by 30.3% in Q1, now holding 23,273 shares valued at $6,031,000.
• Notable insider sales include Director Ira Matthew Ehrenpreis selling 477,572 shares for over $170 million, representing a 35.83% decrease in ownership.
• Tesla shares opened at $339.03, with a reported 2.8% increase, despite missing Q2 earnings expectations and announcing 11.8% revenue decline year-over-year.

Callan Family Office LLC lessened its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 30.3% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,273 shares of the electric vehicle producer's stock after selling 10,117 shares during the quarter. Callan Family Office LLC's holdings in Tesla were worth $6,031,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Rinkey Investments boosted its stake in Tesla by 3.5% during the 4th quarter. Rinkey Investments now owns 860 shares of the electric vehicle producer's stock valued at $347,000 after purchasing an additional 29 shares during the last quarter. True Wealth Design LLC boosted its stake in Tesla by 79.5% during the 4th quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock valued at $28,000 after purchasing an additional 31 shares during the last quarter. Aldebaran Financial Inc. boosted its stake in Tesla by 3.1% during the 4th quarter. Aldebaran Financial Inc. now owns 1,174 shares of the electric vehicle producer's stock valued at $490,000 after purchasing an additional 35 shares during the last quarter. Acorn Wealth Advisors LLC boosted its stake in Tesla by 1.9% during the 1st quarter. Acorn Wealth Advisors LLC now owns 1,901 shares of the electric vehicle producer's stock valued at $493,000 after purchasing an additional 36 shares during the last quarter. Finally, Solutions 4 Wealth Ltd lifted its holdings in shares of Tesla by 2.0% during the 1st quarter. Solutions 4 Wealth Ltd now owns 1,815 shares of the electric vehicle producer's stock valued at $470,000 after buying an additional 36 shares during the period. 66.20% of the stock is currently owned by institutional investors.

Tesla Trading Down 1.1%

TSLA traded down $3.80 on Thursday, hitting $335.58. The company had a trading volume of 74,640,981 shares, compared to its average volume of 106,159,734. The company 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, Inc. has a 12-month low of $202.59 and a 12-month high of $488.54. 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 business's fifty day simple moving average is $318.69 and its 200 day simple moving average is $306.71.

Tesla (NASDAQ:TSLA - Get Free Report) last released 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 analysts' expectations of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%. The company's revenue was down 11.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.52 EPS. Equities research analysts expect that Tesla, Inc. will post 2.56 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Roth Mkm lowered their price target on Tesla from $450.00 to $395.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. The Goldman Sachs Group lowered their price target on Tesla from $315.00 to $285.00 and set a "neutral" rating on the stock in a report on Friday, July 11th. Royal Bank Of Canada reaffirmed an "overweight" rating on shares of Tesla in a report on Tuesday, July 29th. Raymond James Financial cut Tesla to an "outperform" rating in a report on Tuesday, April 22nd. Finally, Benchmark reaffirmed a "buy" rating and issued a $475.00 target price (up from $350.00) on shares of Tesla in a report on Thursday, June 26th. Ten investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $303.31.

Insider Buying and Selling

In related news, Director Ira Matthew Ehrenpreis sold 477,572 shares of Tesla stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $357.30, for a total value of $170,636,475.60. Following the completion of the transaction, the director owned 855,394 shares in the company, valued at approximately $305,632,276.20. This trade represents a 35.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Vaibhav Taneja sold 6,000 shares of Tesla stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $341.02, for a total value of $2,046,120.00. Following the completion of the transaction, the chief financial officer owned 1,950 shares of the company's stock, valued at approximately $664,989. This represents a 75.47% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 602,724 shares of company stock worth $214,176,831. 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.