Tesla, Inc. $TSLA Position Lessened by Gerber Kawasaki Wealth & Investment Management

Key Points

• Gerber Kawasaki Wealth & Investment Management reduced its position in Tesla by 10.1%, holding 235,919 shares valued at approximately $61 million, making Tesla its 9th largest holding.
• Several other institutional investors, such as Graney & King LLC and Landscape Capital Management, increased their stakes in Tesla, demonstrating mixed investor sentiment.
• Tesla reported a net margin of 6.54% and revenue of $22.50 billion for the last quarter, missing analysts' consensus estimates and reflecting an 11.8% year-over-year decline.

Gerber Kawasaki Wealth & Investment Management lessened its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 10.1% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 235,919 shares of the electric vehicle producer's stock after selling 26,433 shares during the period. Tesla accounts for approximately 2.7% of Gerber Kawasaki Wealth & Investment Management's portfolio, making the stock its 9th largest holding. Gerber Kawasaki Wealth & Investment Management's holdings in Tesla were worth $61,141,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the company. Graney & King LLC raised its position in Tesla by 18.4% during the first quarter. Graney & King LLC now owns 245 shares of the electric vehicle producer's stock valued at $63,000 after purchasing an additional 38 shares in the last quarter. Landscape Capital Management L.L.C. raised its position in Tesla by 108.5% during the first quarter. Landscape Capital Management L.L.C. now owns 8,273 shares of the electric vehicle producer's stock valued at $2,144,000 after purchasing an additional 4,306 shares in the last quarter. Truvestments Capital LLC increased its holdings in shares of Tesla by 5.1% in the first quarter. Truvestments Capital LLC now owns 1,626 shares of the electric vehicle producer's stock worth $421,000 after buying an additional 79 shares during the period. Wealth Preservation Advisors LLC purchased a new position in shares of Tesla in the first quarter worth about $520,000. Finally, B. Metzler seel. Sohn & Co. AG increased its holdings in shares of Tesla by 2.0% in the first quarter. B. Metzler seel. Sohn & Co. AG now owns 191,246 shares of the electric vehicle producer's stock worth $49,563,000 after buying an additional 3,812 shares during the period. Hedge funds and other institutional investors own 66.20% of the company's stock.

Tesla Stock Performance

Shares of TSLA opened at $349.60 on Thursday. 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 price is $322.87 and its 200-day moving average price is $303.14. Tesla, Inc. has a 52 week low of $202.59 and a 52 week high of $488.54. The stock has a market cap of $1.13 trillion, a P/E ratio of 202.08, a P/E/G ratio of 12.23 and a beta of 2.33.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its quarterly earnings results 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). Tesla had a return on equity of 7.98% and a net margin of 6.54%.The company had revenue of $22.50 billion during the quarter, compared to the consensus estimate of $23.18 billion. During the same period in the prior year, the firm earned $0.52 earnings per share. The business's revenue for the quarter was down 11.8% compared to the same quarter last year. Equities research analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Tesla news, CFO Vaibhav Taneja sold 2,000 shares of the stock in a transaction 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 directly owned 5,924 shares in the company, valued at approximately $1,777,200. This trade represents a 25.24% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Xiaotong Zhu sold 15,000 shares of the stock in a transaction on Thursday, June 12th. The shares were 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 in the company, valued at approximately $21,889,556. This represents a 18.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 30,564 shares of company stock worth $9,757,390. Insiders own 20.70% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Daiwa Capital Markets reiterated a "neutral" rating on shares of Tesla in a report on Sunday, July 27th. Bank of America lifted their price objective on Tesla from $305.00 to $341.00 and gave the stock a "neutral" rating in a research report on Monday, July 21st. UBS Group set a $290.00 price objective on Tesla in a research report on Monday, June 30th. Canaccord Genuity Group lifted their price objective on Tesla from $303.00 to $333.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Finally, Benchmark reaffirmed a "buy" rating and set a $475.00 price objective (up from $350.00) on shares of Tesla in a research report on Thursday, June 26th. 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 company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $303.31.

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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