Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Elevatus Welath Management

Key Points

• Elevatus Wealth Management reduced its holdings in Tesla by 30.8% in the first quarter, selling 765 shares and now owning a total of 1,719 shares valued at $445,000.
• Several hedge funds increased their positions in Tesla, with Goldman Sachs leading with a 322.1% increase during the same quarter, adding over 20 million shares to their holdings.
• Recent earnings reveal Tesla reported an EPS of $0.40, missing the expected $0.43, with revenue down 11.8% year-over-year.

Elevatus Welath Management lessened its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 30.8% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,719 shares of the electric vehicle producer's stock after selling 765 shares during the quarter. Elevatus Welath Management's holdings in Tesla were worth $445,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the business. Vanguard Group Inc. lifted its position in shares of Tesla by 1.5% during the first quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer's stock worth $63,983,418,000 after purchasing an additional 3,694,524 shares in the last quarter. Northern Trust Corp lifted its position in shares of Tesla by 21.6% during the fourth quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer's stock worth $11,541,592,000 after purchasing an additional 5,075,418 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Tesla by 322.1% during the first 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 in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Tesla by 0.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,536,519 shares of the electric vehicle producer's stock worth $9,908,828,000 after purchasing an additional 158,697 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Tesla by 4.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 18,174,941 shares of the electric vehicle producer's stock worth $4,710,218,000 after purchasing an additional 849,091 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on TSLA shares. Baird R W lowered shares of Tesla from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 9th. Daiwa Capital Markets restated a "neutral" rating on shares of Tesla in a research note on Sunday, July 27th. UBS Group set a $290.00 target price on shares of Tesla in a research note on Monday, June 30th. Glj Research restated a "sell" rating on shares of Tesla in a research note on Thursday, July 24th. Finally, The Goldman Sachs Group cut their target price on shares of Tesla from $315.00 to $285.00 and set a "neutral" rating on the stock in a research note on Friday, July 11th. Ten equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $303.31.

Tesla Trading Down 1.5%

NASDAQ:TSLA opened at $330.56 on Friday. The company has a market capitalization of $1.07 trillion, a PE ratio of 191.08, a price-to-earnings-growth ratio of 11.67 and a beta of 2.33. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a 52-week low of $202.59 and a 52-week high of $488.54. The stock has a fifty day simple moving average of $320.41 and a 200-day simple moving average of $305.81.

Tesla (NASDAQ:TSLA - Get Free Report) last posted 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). The company had revenue of $22.50 billion for 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 for the quarter was down 11.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.52 EPS. On average, equities research analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Transactions at Tesla

In other news, CFO Vaibhav Taneja sold 2,000 shares of the business's stock in a transaction dated Tuesday, July 8th. The stock was sold at an average price of $300.00, for a total transaction of $600,000.00. Following the completion of the sale, the chief financial officer owned 5,924 shares in the company, valued at approximately $1,777,200. The trade was a 25.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Xiaotong Zhu sold 15,000 shares of the business's stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $323.81, for a total value of $4,857,150.00. Following the sale, the senior vice president owned 67,600 shares of the company's stock, valued at $21,889,556. The trade was a 18.16% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 599,724 shares of company stock worth $213,126,501 over the last 90 days. Company 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.

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