Tesla, Inc. $TSLA Shares Sold by RWQ Financial Management Services Inc.

Key Points

• RWQ Financial Management Services Inc. reduced its holdings in Tesla, Inc. by 4.7%, selling 2,571 shares during the second quarter, leaving it with approximately 51,715 shares valued at $16.4 million.
• Tesla's quarterly earnings report showed earnings per share of $0.40, which was below the analysts' expectations of $0.43, alongside a revenue decrease of 11.8% year-over-year.
• Institutional investors own 66.20% of Tesla stock, with several firms like Brighton Jones LLC and Bison Wealth LLC increasing their shares in the fourth quarter despite the overall mixed performance of TSLA stock.

RWQ Financial Management Services Inc. cut its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 4.7% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 51,715 shares of the electric vehicle producer's stock after selling 2,571 shares during the period. Tesla comprises approximately 6.9% of RWQ Financial Management Services Inc.'s holdings, making the stock its 7th biggest position. RWQ Financial Management Services Inc.'s holdings in Tesla were worth $16,428,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of TSLA. Brighton Jones LLC boosted its holdings in shares of 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 buying an additional 9,293 shares during the period. Revolve Wealth Partners LLC boosted its holdings in shares of Tesla by 21.2% in the 4th quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer's stock valued at $2,147,000 after buying an additional 931 shares during the period. Bison Wealth LLC boosted its holdings in shares of Tesla by 52.2% in the 4th quarter. Bison Wealth LLC now owns 10,368 shares of the electric vehicle producer's stock valued at $4,187,000 after buying an additional 3,558 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Tesla by 6.0% in the 1st quarter. GAMMA Investing LLC now owns 37,862 shares of the electric vehicle producer's stock valued at $9,812,000 after buying an additional 2,153 shares during the period. Finally, United Advisor Group LLC boosted its holdings in shares of Tesla by 1.6% in the 1st quarter. United Advisor Group LLC now owns 12,630 shares of the electric vehicle producer's stock valued at $3,273,000 after buying an additional 193 shares during the period. 66.20% of the stock is owned by institutional investors and hedge funds.

Tesla Stock Up 2.5%

TSLA stock opened at $439.31 on Friday. Tesla, Inc. has a 52 week low of $212.11 and a 52 week high of $488.54. The company has a market capitalization of $1.46 trillion, a price-to-earnings ratio of 253.94, a price-to-earnings-growth ratio of 15.41 and a beta of 2.08. The firm's 50-day moving average is $387.54 and its two-hundred day moving average is $333.25. The company has a current ratio of 2.04, a quick ratio of 1.55 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 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 for the quarter, compared to the consensus estimate of $23.18 billion. During the same quarter last year, the firm posted $0.52 earnings per share. The firm's quarterly revenue was down 11.8% compared to the same quarter last year. On average, analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, SVP Xiaotong Zhu sold 20,000 shares of the business's stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $363.75, for a total value of $7,275,000.00. Following the sale, the senior vice president directly owned 47,600 shares in the company, valued at $17,314,500. The trade was a 29.59% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Vaibhav Taneja sold 2,606 shares of the business's stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $352.38, for a total transaction of $918,302.28. Following the completion of the sale, the chief financial officer owned 9,856 shares in the company, valued at $3,473,057.28. The trade was a 20.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 202,606 shares of company stock worth $75,588,902 in the last ninety days. 19.90% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Cantor Fitzgerald reissued an "overweight" rating and set a $355.00 target price on shares of Tesla in a research note on Friday, October 3rd. Needham & Company LLC reissued a "hold" rating on shares of Tesla in a research note on Thursday, July 24th. Guggenheim reissued a "sell" rating and set a $175.00 target price on shares of Tesla in a research note on Wednesday, July 23rd. HSBC boosted their target price on shares of Tesla from $120.00 to $127.00 in a research note on Monday, September 29th. Finally, Melius Research set a $520.00 target price on shares of Tesla and gave the company a "buy" rating in a research note on Monday. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, twelve have issued a Hold rating and ten have assigned a Sell rating to the company. According to data from MarketBeat, Tesla currently has an average rating of "Hold" and an average price target of $363.54.

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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