Tesla, Inc. $TSLA Shares Sold by Bell Investment Advisors Inc

Key Points

• Bell Investment Advisors Inc reduced its holdings in Tesla by 47.4%, selling 1,108 shares, which left them with a total of 1,231 shares valued at $319,000 as of their latest SEC filing.
• Several large investors, including Means Investment CO. Inc. and IFM Investors Pty Ltd, have increased their stakes in Tesla, with significant percentage increases in their holdings during the first quarter.
• Tesla's recent quarterly earnings report showed EPS of $0.40, which fell short of analyst expectations of $0.43, alongside a revenue decline of 11.8% compared to the same period last year.

Bell Investment Advisors Inc lessened its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 47.4% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,231 shares of the electric vehicle producer's stock after selling 1,108 shares during the period. Bell Investment Advisors Inc's holdings in Tesla were worth $319,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Caxton Associates LLP purchased a new stake in shares of Tesla during the first quarter worth approximately $469,339,000. Signature Estate & Investment Advisors LLC increased its stake in Tesla by 1.2% in the 1st quarter. Signature Estate & Investment Advisors LLC now owns 14,488 shares of the electric vehicle producer's stock valued at $3,755,000 after buying an additional 172 shares during the period. Everstar Asset Management LLC purchased a new position in Tesla during the 1st quarter worth $1,284,000. Fred Alger Management LLC lifted its stake in shares of Tesla by 1.4% in the 1st quarter. Fred Alger Management LLC now owns 1,195,545 shares of the electric vehicle producer's stock worth $309,837,000 after acquiring an additional 16,252 shares during the period. Finally, First Dallas Securities Inc. purchased a new stake in shares of Tesla in the first quarter valued at about $321,000. 66.20% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Glj Research restated a "sell" rating on shares of Tesla in a research report on Thursday, July 24th. Baird R W downgraded Tesla from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 9th. Royal Bank Of Canada restated an "overweight" rating on shares of Tesla in a research note on Tuesday, July 29th. Stifel Nicolaus set a $440.00 price objective on Tesla in a research report on Friday, September 5th. Finally, Bank of America raised their target price on Tesla from $305.00 to $341.00 and gave the company a "neutral" rating in a report on Monday, July 21st. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, fourteen have assigned a Hold rating and nine have assigned 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 $303.00.

Tesla Trading Up 0.2%

Shares of TSLA traded up $0.82 on Wednesday, hitting $347.79. 71,891,567 shares of the stock traded hands, compared to its average volume of 102,794,297. Tesla, Inc. has a 1 year low of $212.11 and a 1 year high of $488.54. The stock's 50 day moving average is $325.50 and its two-hundred day moving average is $302.26. The firm has a market capitalization of $1.12 trillion, a P/E ratio of 201.03, a P/E/G ratio of 12.08 and a beta of 2.06. 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 issued 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). Tesla had a net margin of 6.54% and a return on equity of 7.98%. The business had revenue of $22.50 billion during the quarter, compared to analyst estimates of $23.18 billion. During the same quarter last year, the firm posted $0.52 earnings per share. The company's revenue was down 11.8% on a year-over-year basis. As a group, sell-side analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Activity at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of the firm's stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $292.89, for a total value of $1,171,560.00. Following the sale, the chief financial officer directly owned 5,924 shares of the company's stock, valued at approximately $1,735,080.36. This trade represents a 40.31% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James R. Murdoch sold 120,000 shares of the stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $350.29, for a total transaction of $42,034,800.00. Following the transaction, the director owned 697,031 shares in the company, valued at approximately $244,162,988.99. The trade was a 14.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 143,606 shares of company stock worth $49,581,812. 20.70% of the stock is currently owned by insiders.

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.