Tesla, Inc. $TSLA is Goldstream Capital Management Ltd's 7th Largest Position

Key Points

• Goldstream Capital Management Ltd has reduced its stake in Tesla, Inc. by 21.5%, now holding 31,988 shares which accounts for 3.7% of its investment portfolio, making Tesla its 7th largest position.
• Various other institutional investors have significantly increased their positions in Tesla, with notable increases such as Cherry Tree Wealth Management boosting their stake by 86.3%.
• Tesla's recent earnings report showed a decrease in revenue by 11.8% year-over-year, reporting $0.40 EPS, which fell short of analysts' expectations of $0.43.

Goldstream Capital Management Ltd cut its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 21.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 31,988 shares of the electric vehicle producer's stock after selling 8,755 shares during the quarter. Tesla makes up 3.7% of Goldstream Capital Management Ltd's investment portfolio, making the stock its 7th largest position. Goldstream Capital Management Ltd's holdings in Tesla were worth $8,290,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TSLA. Cherry Tree Wealth Management LLC boosted its position 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 worth $25,000 after acquiring an additional 44 shares during the last quarter. First PREMIER Bank boosted its holdings 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 purchasing an additional 42 shares during the last quarter. Newton One Investments LLC grew its stake in shares of Tesla by 250.0% during the 1st quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock valued at $27,000 after buying an additional 75 shares during the period. Arcadia Investment Management Corp MI purchased a new stake in shares of Tesla during the 1st quarter valued at $27,000. Finally, True Wealth Design LLC raised 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 worth $28,000 after buying an additional 31 shares during the period. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Tesla

In related news, CFO Vaibhav Taneja sold 6,000 shares of the business's 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 sale, the chief financial officer directly owned 1,950 shares of the company's stock, valued at $664,989. The trade was a 75.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of Tesla stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $357.30, for a total transaction of $170,636,475.60. Following the completion of the transaction, the director directly owned 855,394 shares of the company's stock, valued at approximately $305,632,276.20. This represents a 35.83% 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 valued at $213,126,501 over the last ninety days. 20.70% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on TSLA shares. Guggenheim reissued a "sell" rating and set a $175.00 price target on shares of Tesla in a research report on Wednesday, July 23rd. Royal Bank Of Canada reiterated an "overweight" rating on shares of Tesla in a report on Tuesday, July 29th. Glj Research reissued a "sell" rating on shares of Tesla in a research report on Thursday, July 24th. Roth Mkm decreased their price objective on shares of Tesla from $450.00 to $395.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. Finally, Morgan Stanley reissued an "overweight" rating and issued a $410.00 target price on shares of Tesla in a research note on Friday, June 6th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, fifteen have given a Hold rating and nine have given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $303.31.

Tesla Stock Performance

Shares of TSLA opened at $323.90 on Thursday. The firm has a market cap of $1.04 trillion, a price-to-earnings ratio of 187.23, a PEG ratio of 11.45 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. The business's 50 day moving average is $320.96 and its two-hundred day moving average is $304.40. Tesla, Inc. has a 52-week low of $202.59 and a 52-week high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.43 by ($0.03). The company had revenue of $22.50 billion during the quarter, compared to the consensus estimate of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%.The firm's quarterly revenue was down 11.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.52 EPS. Analysts forecast that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

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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