Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Steward Partners Investment Advisory LLC

Key Points

• Steward Partners Investment Advisory LLC reduced its holdings in Tesla by 5.3%, selling 5,569 shares and ending the quarter with 100,287 shares valued at approximately $25,990,000.
• Tesla reported lower-than-expected earnings with $0.40 per share, missing the consensus estimate of $0.43, and revenue of $22.50 billion, down 11.8% year-over-year.
• Insider transactions include Director Kimbal Musk selling 91,588 shares valued at over $32.7 million, while CFO Vaibhav Taneja sold 2,000 shares for $600,000, indicating notable insider selling activity.

Steward Partners Investment Advisory LLC cut its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 5.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 100,287 shares of the electric vehicle producer's stock after selling 5,569 shares during the period. Steward Partners Investment Advisory LLC's holdings in Tesla were worth $25,990,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. True Wealth Design LLC lifted its position in shares of Tesla by 79.5% in the 4th quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock valued at $28,000 after acquiring an additional 31 shares in the last quarter. Navigoe LLC purchased a new stake in shares of Tesla in the 4th quarter valued at approximately $37,000. Cherry Tree Wealth Management LLC lifted its position in shares of Tesla by 86.3% in the 1st 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 lifted its position in shares of Tesla by 79.2% in the 1st quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after acquiring an additional 42 shares in the last quarter. Finally, Marshall & Sterling Wealth Advisors Inc. purchased a new stake in shares of Tesla in the 4th quarter valued at approximately $39,000. 66.20% of the stock is owned by institutional investors and hedge funds.

Tesla Trading Down 1.5%

Shares of TSLA stock opened at $330.56 on Friday. Tesla, Inc. has a 12-month low of $202.59 and a 12-month high of $488.54. The company has a market capitalization of $1.07 trillion, a P/E ratio of 191.08, a P/E/G ratio of 11.49 and a beta of 2.33. The firm has a 50-day moving average price of $320.41 and a 200 day moving average price of $305.24. 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 (NASDAQ:TSLA - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share 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%. The company's revenue was down 11.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.52 EPS. Research analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Buying and Selling at Tesla

In other news, 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 completion of 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Vaibhav Taneja sold 2,000 shares of Tesla stock in a transaction that occurred on Tuesday, July 8th. The stock was sold at an average price of $300.00, for a total transaction of $600,000.00. Following the sale, the chief financial officer owned 5,924 shares of the company's stock, valued at approximately $1,777,200. This represents a 25.24% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 599,724 shares of company stock worth $213,126,501 in the last 90 days. Corporate insiders own 20.70% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Needham & Company LLC reiterated a "hold" rating on shares of Tesla in a research note on Thursday, July 24th. Truist Financial set a $280.00 price objective on shares of Tesla in a research note on Tuesday, April 22nd. Cantor Fitzgerald dropped their price objective on shares of Tesla from $425.00 to $355.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 23rd. Wedbush reiterated an "outperform" rating and issued a $500.00 price objective on shares of Tesla in a research note on Monday, August 4th. Finally, Baird R W lowered shares of Tesla from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 9th. Ten research analysts have rated the stock with a sell rating, fifteen have given a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Tesla currently has a consensus rating of "Hold" and an average target price of $303.31.

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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