Tesla, Inc. $TSLA Shares Sold by Watershed Private Wealth LLC

Key Points

• Watershed Private Wealth LLC reduced its holdings in Tesla, Inc. by 21.8%, now owning 4,721 shares worth about $1.5 million.
• Several institutional investors increased their stakes in Tesla during the last quarter, with Goldman Sachs growing its position by an impressive 322.1%.
• Insider activity included Director James R. Murdoch selling 60,000 shares for approximately $25.36 million, resulting in an 8.61% decrease in his ownership.

Watershed Private Wealth LLC decreased its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 21.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,721 shares of the electric vehicle producer's stock after selling 1,314 shares during the period. Watershed Private Wealth LLC's holdings in Tesla were worth $1,500,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of Tesla by 1.5% in the first quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer's stock worth $63,983,418,000 after acquiring an additional 3,694,524 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Tesla by 322.1% in the first quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer's stock worth $6,891,201,000 after acquiring an additional 20,291,139 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Tesla by 4.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 18,174,941 shares of the electric vehicle producer's stock worth $4,710,218,000 after acquiring an additional 849,091 shares in the last quarter. Amundi grew its stake in shares of Tesla by 29.4% in the first quarter. Amundi now owns 16,771,882 shares of the electric vehicle producer's stock worth $4,482,789,000 after acquiring an additional 3,814,610 shares in the last quarter. Finally, Invesco Ltd. lifted its position in shares of Tesla by 17.6% during the 1st quarter. Invesco Ltd. now owns 14,786,414 shares of the electric vehicle producer's stock worth $3,832,047,000 after purchasing an additional 2,211,300 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company's stock.

Insider Activity

In other news, Director James R. Murdoch sold 60,000 shares of the company's stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $422.68, for a total value of $25,360,800.00. Following the completion of the sale, the director directly owned 637,031 shares of the company's stock, valued at approximately $269,260,263.08. This represents a 8.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Vaibhav Taneja sold 2,606 shares of the company's stock in a transaction dated Monday, September 8th. The shares were 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 directly owned 9,856 shares of the company's stock, 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. Over the last three months, insiders sold 202,606 shares of company stock valued at $75,588,902. Insiders own 19.90% of the company's stock.

Tesla Price Performance

Shares of TSLA opened at $438.69 on Thursday. Tesla, Inc. has a 1-year low of $212.11 and a 1-year high of $488.54. The stock has a market cap of $1.46 trillion, a PE ratio of 253.58, a price-to-earnings-growth ratio of 15.92 and a beta of 2.08. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55. The firm has a fifty day moving average price of $371.20 and a 200 day moving average price of $325.56.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share for the quarter, missing analysts' consensus estimates of $0.43 by ($0.03). Tesla had a net margin of 6.54% and a return on equity of 7.98%. The company had revenue of $22.50 billion during the quarter, compared to analysts' expectations of $23.18 billion. During the same period last year, the firm earned $0.52 earnings per share. Tesla's revenue was down 11.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on TSLA shares. Needham & Company LLC reaffirmed a "hold" rating on shares of Tesla in a research report on Thursday, July 24th. Royal Bank Of Canada reaffirmed a "buy" rating on shares of Tesla in a research report on Friday, September 26th. The Goldman Sachs Group lifted their price objective on shares of Tesla from $395.00 to $425.00 and gave the stock a "neutral" rating in a research report on Friday, October 3rd. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Tesla from $345.00 to $435.00 and gave the stock a "buy" rating in a research report on Friday, September 26th. Finally, William Blair reaffirmed a "market perform" rating on shares of Tesla in a research report on Friday, September 5th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, thirteen have assigned a Hold rating and eight have issued a Sell rating to the stock. Based on data from MarketBeat.com, Tesla currently has a consensus rating of "Hold" and a consensus price target of $345.70.

Tesla Company 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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