Tesla, Inc. $TSLA Position Reduced by Clarity Capital Partners LLC

Key Points

• Clarity Capital Partners LLC reduced its stake in Tesla, Inc. by 3.2%, owning 49,580 shares valued at approximately $15.75 million, making it the fund's third largest holding.
• Several institutional investors, including Empirical Financial Services LLC and Synergy Asset Management LLC, have increased their holdings in Tesla during the second quarter, indicating varied investor sentiments on the stock.
• Tesla reported missed earnings expectations for the last quarter, with $0.40 earnings per share compared to the consensus estimate of $0.43, alongside a revenue decline of 11.8% year-over-year.

Clarity Capital Partners LLC cut its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 3.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 49,580 shares of the electric vehicle producer's stock after selling 1,649 shares during the quarter. Tesla makes up approximately 5.6% of Clarity Capital Partners LLC's portfolio, making the stock its 3rd largest holding. Clarity Capital Partners LLC's holdings in Tesla were worth $15,750,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Whelan Financial lifted its holdings in Tesla by 2.3% during the second quarter. Whelan Financial now owns 2,361 shares of the electric vehicle producer's stock valued at $750,000 after purchasing an additional 54 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its holdings in Tesla by 17.0% during the second quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 68,902 shares of the electric vehicle producer's stock valued at $21,887,000 after purchasing an additional 9,987 shares during the last quarter. Custos Family Office LLC lifted its holdings in shares of Tesla by 4.2% in the second quarter. Custos Family Office LLC now owns 3,129 shares of the electric vehicle producer's stock worth $994,000 after buying an additional 126 shares in the last quarter. Oriental Harbor Investment Fund purchased a new stake in shares of Tesla in the second quarter worth about $63,013,000. Finally, Synergy Asset Management LLC lifted its holdings in shares of Tesla by 51.8% in the second quarter. Synergy Asset Management LLC now owns 89,649 shares of the electric vehicle producer's stock worth $28,478,000 after buying an additional 30,609 shares in the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Tesla

In other news, Director James R. Murdoch sold 60,000 shares of the business's stock in a transaction on Monday, September 15th. The shares were sold at an average price of $422.68, for a total transaction of $25,360,800.00. Following the sale, the director owned 637,031 shares in the company, valued at approximately $269,260,263.08. The trade was a 8.61% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Vaibhav Taneja sold 2,606 shares of the business's stock in a transaction on Monday, September 8th. The shares were sold at an average price of $352.38, for a total transaction of $918,302.28. Following the sale, the chief financial officer owned 9,856 shares in the company, valued at approximately $3,473,057.28. This trade represents a 20.91% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 208,606 shares of company stock worth $77,360,462 over the last quarter. Corporate insiders own 19.90% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft increased their price target on shares of Tesla from $345.00 to $435.00 and gave the stock a "buy" rating in a report on Friday, September 26th. Baird R W raised shares of Tesla from a "hold" rating to a "strong-buy" rating in a report on Friday, September 19th. Bank of America boosted their target price on Tesla from $305.00 to $341.00 and gave the stock a "neutral" rating in a research report on Monday, July 21st. William Blair restated a "market perform" rating on shares of Tesla in a research report on Friday, September 5th. Finally, Stifel Nicolaus set a $440.00 target price on Tesla in a research report on Friday, September 5th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, thirteen have assigned a Hold rating and eight have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $343.43.

Tesla Stock Performance

NASDAQ:TSLA opened at $429.83 on Friday. The stock has a market cap of $1.43 trillion, a P/E ratio of 248.46, a price-to-earnings-growth ratio of 14.93 and a beta of 2.08. The firm's fifty day simple moving average is $364.02 and its 200 day simple moving average is $321.99. Tesla, Inc. has a twelve month low of $212.11 and a twelve month high of $488.54. 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 released its quarterly 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). The company had revenue of $22.50 billion during the quarter, compared to the consensus estimate of $23.18 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. The business's revenue was down 11.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.52 EPS. As a group, research analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

Tesla 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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