Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Mediolanum International Funds Ltd

Key Points

• Mediolanum International Funds Ltd reduced its holdings in Tesla by 26.6%, selling 71,858 shares and now owns a total of 198,002 shares valued at approximately $52.2 million.
• Tesla's stock price increased 3.5%, opening at $316.06, with a market capitalization of $1.02 trillion and a low of $182 and high of $488.54 over the past year.
• The company reported $0.40 EPS for the latest quarter, missing estimates by $0.03, with a year-over-year revenue decline of 11.8% to $22.5 billion.

Mediolanum International Funds Ltd trimmed its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 26.6% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 198,002 shares of the electric vehicle producer's stock after selling 71,858 shares during the period. Tesla makes up about 0.7% of Mediolanum International Funds Ltd's holdings, making the stock its 29th largest holding. Mediolanum International Funds Ltd's holdings in Tesla were worth $52,183,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of TSLA. True Wealth Design LLC lifted its holdings in 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 in the last quarter. Navigoe LLC purchased a new stake in shares of Tesla during the fourth quarter worth $37,000. Cherry Tree Wealth Management LLC raised its stake in shares of Tesla by 86.3% in the first quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after acquiring an additional 44 shares in the last quarter. First PREMIER Bank boosted its holdings in Tesla by 79.2% in the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after purchasing an additional 42 shares during the period. Finally, Marshall & Sterling Wealth Advisors Inc. purchased a new stake in Tesla during the 4th quarter worth about $39,000. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Tesla Stock Up 3.5%

Tesla stock opened at $316.06 on Friday. The stock's 50 day moving average price is $324.70 and its 200 day moving average price is $314.65. Tesla, Inc. has a 1-year low of $182.00 and a 1-year high of $488.54. The company has a market cap of $1.02 trillion, a PE ratio of 182.69, a price-to-earnings-growth ratio of 11.59 and a beta of 2.39. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.54.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its 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). 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 analysts' expectations of $23.18 billion. During the same quarter in the previous year, the firm posted $0.52 earnings per share. Tesla's revenue for the quarter was down 11.8% on a year-over-year basis. On average, sell-side analysts predict that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on TSLA shares. UBS Group set a $290.00 price objective on Tesla in a research note on Monday, June 30th. Cfra Research downgraded shares of Tesla from a "moderate buy" rating to a "hold" rating in a research note on Tuesday, April 22nd. Benchmark reissued a "buy" rating and issued a $475.00 price objective (up from $350.00) on shares of Tesla in a research report on Thursday, June 26th. Glj Research reaffirmed a "sell" rating on shares of Tesla in a research report on Thursday. Finally, Baird R W lowered Tesla from a "strong-buy" rating to a "hold" rating in a report on Monday, June 9th. Ten investment analysts have rated the stock with a sell rating, fourteen 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.com, the company has an average rating of "Hold" and an average target price of $302.75.

Insider Activity at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 2,000 shares of the 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 completion of the transaction, the chief financial officer directly owned 5,924 shares of the company's stock, valued at approximately $1,777,200. This trade represents a 25.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Kimbal Musk sold 91,588 shares of Tesla stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $357.39, for a total transaction of $32,732,635.32. Following the sale, the director owned 1,463,220 shares of the company's stock, valued at approximately $522,940,195.80. The trade was a 5.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 835,509 shares of company stock worth $279,420,485 in the last ninety days. Corporate 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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