Tesla, Inc. $TSLA Stock Position Trimmed by RW Investment Management LLC

Key Points

• RW Investment Management LLC reduced its Tesla holdings by 36.2%, holding 1,640 shares valued at $425,000 after selling 930 shares in the first quarter of 2023.
• Tesla's recent earnings report showed an EPS of $0.40, missing estimates by $0.03, with a quarterly revenue of $22.50 billion, down 11.8% year-over-year.
• Investment analysts are divided on Tesla's future, with a consensus recommendation of "Hold" and a price target averaging $303.31.

RW Investment Management LLC cut its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 36.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,640 shares of the electric vehicle producer's stock after selling 930 shares during the quarter. RW Investment Management LLC's holdings in Tesla were worth $425,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Eagle Capital Management LLC acquired a new stake in shares of Tesla during the 4th quarter valued at approximately $331,000. Brighton Jones LLC increased its stake in Tesla by 11.8% in the 4th quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer's stock valued at $35,509,000 after purchasing an additional 9,293 shares in the last quarter. Revolve Wealth Partners LLC raised its holdings in Tesla by 21.2% during the fourth quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer's stock worth $2,147,000 after purchasing an additional 931 shares during the last quarter. Mascagni Wealth Management Inc. acquired a new position in shares of Tesla during the 4th quarter worth $346,000. Finally, Highview Capital Management LLC DE purchased a new stake in shares of Tesla in the fourth quarter valued at about $2,367,000. Institutional investors and hedge funds own 66.20% of the company's stock.

Wall Street Analyst Weigh In

TSLA has been the topic of several analyst reports. Morgan Stanley reaffirmed an "overweight" rating and set a $410.00 price target on shares of Tesla in a research note on Friday, June 6th. Cfra Research lowered Tesla from a "moderate buy" rating to a "hold" rating in a research note on Tuesday, April 22nd. Baird R W downgraded shares of Tesla from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 9th. HSBC reiterated a "reduce" rating and set a $120.00 price objective on shares of Tesla in a report on Thursday, July 3rd. Finally, Cantor Fitzgerald lowered their target price on shares of Tesla from $425.00 to $355.00 and set an "overweight" rating for the company in a report on Wednesday, April 23rd. One 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 issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $303.31.

Insiders Place Their Bets

In other Tesla news, Director Kimbal Musk sold 91,588 shares of the stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $357.39, for a total transaction of $32,732,635.32. Following the transaction, the director owned 1,463,220 shares of the company's stock, valued at $522,940,195.80. This trade represents a 5.89% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Vaibhav Taneja sold 6,000 shares of the firm's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $341.02, for a total transaction of $2,046,120.00. Following the completion of the transaction, the chief financial officer owned 1,950 shares in the company, valued at approximately $664,989. The trade was a 75.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 599,724 shares of company stock valued at $213,126,501. Corporate insiders own 20.70% of the company's stock.

Tesla Stock Down 1.6%

Tesla stock traded down $5.41 during midday trading on Wednesday, hitting $323.90. 77,278,884 shares of the company were exchanged, compared to its average volume of 105,285,383. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55. Tesla, Inc. has a fifty-two week low of $202.59 and a fifty-two week high of $488.54. The company's fifty day moving average price is $321.01 and its 200-day moving average price is $304.26. The company has a market cap of $1.04 trillion, a PE ratio of 187.23, a price-to-earnings-growth ratio of 11.65 and a beta of 2.33.

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 firm had revenue of $22.50 billion during the quarter, compared to analysts' expectations of $23.18 billion. During the same quarter last year, the company posted $0.52 earnings per share. Tesla's revenue for the quarter was down 11.8% compared to the same quarter last year. On average, research analysts predict that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

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.