Tesla, Inc. $TSLA Stake Lowered by Vista Cima Wealth Management LLC

Key Points

• Vista Cima Wealth Management LLC significantly reduced its Tesla holdings by 84.4% during the first quarter, holding only 174 shares worth $45,000 after selling 942 shares.
• In contrast, other institutional investors like Cherry Tree Wealth Management and First PREMIER Bank increased their positions in Tesla by 86.3% and 79.2%, respectively, in the same quarter.
• Tesla's recent earnings report showed missed expectations with earnings per share of $0.40, below analysts' estimates of $0.43, and a revenue decline of 11.8% year-over-year.

Vista Cima Wealth Management LLC cut its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 84.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 174 shares of the electric vehicle producer's stock after selling 942 shares during the period. Tesla accounts for 0.0% of Vista Cima Wealth Management LLC's holdings, making the stock its 14th largest position. Vista Cima Wealth Management LLC's holdings in Tesla were worth $45,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Cherry Tree Wealth Management LLC raised its position in Tesla by 86.3% in the first quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after purchasing an additional 44 shares during the period. First PREMIER Bank raised its holdings in shares of Tesla by 79.2% in the 1st quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after buying an additional 42 shares during the period. Newton One Investments LLC raised its holdings in shares of Tesla by 250.0% in the 1st quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock valued at $27,000 after buying an additional 75 shares during the period. Arcadia Investment Management Corp MI purchased a new stake in Tesla during the 1st quarter worth about $27,000. Finally, Centennial Bank AR increased its holdings in Tesla by 833.3% during the 1st quarter. Centennial Bank AR now owns 112 shares of the electric vehicle producer's stock worth $29,000 after purchasing an additional 100 shares during the period. Institutional investors and hedge funds own 66.20% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. China Renaissance reaffirmed a "hold" rating and set a $349.00 price objective on shares of Tesla in a research report on Friday, July 25th. Royal Bank Of Canada reissued an "overweight" rating on shares of Tesla in a research report on Tuesday, July 29th. Glj Research reaffirmed a "sell" rating on shares of Tesla in a research note on Thursday, July 24th. Baird R W cut Tesla from a "strong-buy" rating to a "hold" rating in a report on Monday, June 9th. Finally, UBS Group set a $290.00 price objective on Tesla in a research note on Monday, June 30th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, fifteen have assigned a Hold rating and nine have given a Sell rating to the company's stock. Based on data from MarketBeat, Tesla presently has a consensus rating of "Hold" and an average price target of $303.31.

Insiders Place Their Bets

In related news, CFO Vaibhav Taneja sold 2,000 shares of the business's stock in a transaction dated Tuesday, July 8th. The stock was sold at an average price of $300.00, for a total value of $600,000.00. Following the completion of the sale, the chief financial officer directly owned 5,924 shares of the company's stock, valued at $1,777,200. The trade was a 25.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director James R. Murdoch sold 120,000 shares of the business's stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $350.29, for a total value of $42,034,800.00. Following the completion of the sale, the director directly owned 697,031 shares of the company's stock, valued at approximately $244,162,988.99. This represents a 14.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 143,564 shares of company stock worth $49,396,070 in the last three months. 20.70% of the stock is owned by insiders.

Tesla Stock Up 1.4%

Shares of TSLA traded up $4.73 during midday trading on Wednesday, reaching $334.09. 88,278,694 shares of the company were exchanged, compared to its average volume of 103,649,406. The stock has a 50-day moving average price of $323.07 and a 200-day moving average price of $302.58. The company has a market cap of $1.08 trillion, a price-to-earnings ratio of 193.12, a P/E/G ratio of 11.61 and a beta of 2.06. Tesla, Inc. has a 1-year low of $210.51 and a 1-year high of $488.54. 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 the consensus estimate of $0.43 by ($0.03). Tesla had a return on equity of 7.98% and a net margin of 6.54%.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 EPS. The company's revenue was down 11.8% compared to the same quarter last year. Research analysts expect that Tesla, Inc. will post 2.56 earnings per share 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.