Tesla, Inc. $TSLA Holdings Decreased by MetLife Investment Management LLC

Key Points

• MetLife Investment Management LLC reduced its Tesla holdings by 1.6%, now owning 847,530 shares valued at approximately $219.6 million.
• Tesla reported a missed earnings estimate for the last quarter, with earnings per share at $0.40, compared to the expected $0.43, and a revenue decline of 11.8% year-over-year.
• Insider trading activity included significant sales by SVP Xiaotong Zhu and Director Kimbal Musk, contributing to a total of 599,724 shares sold by insiders last quarter.

MetLife Investment Management LLC decreased its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 1.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 847,530 shares of the electric vehicle producer's stock after selling 13,991 shares during the quarter. Tesla accounts for approximately 1.2% of MetLife Investment Management LLC's holdings, making the stock its 11th biggest position. MetLife Investment Management LLC's holdings in Tesla were worth $219,646,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. True Wealth Design LLC increased its position in Tesla by 79.5% in the 4th quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock worth $28,000 after purchasing an additional 31 shares during the last quarter. Navigoe LLC acquired a new position in Tesla in the 4th quarter worth about $37,000. Cherry Tree Wealth Management LLC increased its position in Tesla by 86.3% in the 1st quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock worth $25,000 after purchasing an additional 44 shares during the last quarter. First PREMIER Bank increased its position in Tesla by 79.2% in the 1st quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock worth $25,000 after purchasing an additional 42 shares during the last quarter. Finally, Marshall & Sterling Wealth Advisors Inc. acquired a new position in Tesla in the 4th quarter worth about $39,000. Hedge funds and other institutional investors own 66.20% of the company's stock.

Tesla Price Performance

Shares of NASDAQ:TSLA opened at $340.01 on Friday. The business has a 50 day moving average price of $321.27 and a 200 day moving average price of $303.08. Tesla, Inc. has a twelve month low of $202.59 and a twelve month high of $488.54. The company has a market cap of $1.10 trillion, a price-to-earnings ratio of 196.54, a PEG ratio of 11.82 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 (NASDAQ:TSLA - Get Free Report) last announced its earnings results 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). Tesla had a net margin of 6.54% and a return on equity of 7.98%. The business had revenue of $22.50 billion for the quarter, compared to the consensus estimate of $23.18 billion. During the same quarter in the previous year, the company earned $0.52 EPS. Tesla's revenue for the quarter was down 11.8% compared to the same quarter last year. Research analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on TSLA. Glj Research reaffirmed a "sell" rating on shares of Tesla in a research report on Thursday, July 24th. Benchmark reiterated a "buy" rating and set a $475.00 price target (up previously from $350.00) on shares of Tesla in a research note on Thursday, June 26th. Daiwa Capital Markets reissued a "neutral" rating on shares of Tesla in a report on Sunday, July 27th. China Renaissance reissued a "hold" rating and set a $349.00 price objective on shares of Tesla in a report on Friday, July 25th. Finally, HSBC reissued a "reduce" rating and set a $120.00 price objective on shares of Tesla in a report on Thursday, July 3rd. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, fifteen have assigned a Hold rating and nine have given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $303.31.

Insider Transactions at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 15,000 shares of the company's stock in a transaction that occurred on 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 completion of the transaction, the senior vice president owned 67,600 shares of the company's stock, valued at $21,889,556. This represents a 18.16% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Kimbal Musk sold 91,588 shares of the company's stock in a transaction that occurred on 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 completion of the transaction, the director directly owned 1,463,220 shares of the company's stock, valued at approximately $522,940,195.80. This trade represents a 5.89% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 599,724 shares of company stock worth $213,126,501. 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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