Tesla, Inc. $TSLA Stock Holdings Lowered by Orion Capital Management LLC

Key Points

• Orion Capital Management LLC reduced its holdings in Tesla by 85.3%, owning only 437 shares worth $113,000 after selling 2,526 shares in the first quarter.
• Despite reduced holdings from some investors, others increased their positions in Tesla significantly, with Cherry Tree Wealth Management LLC lifting its stake by 86.3%.
• Tesla reported lower earnings in its most recent quarter, with a net margin of 6.54% and revenue down 11.8% year-over-year, missing analysts' expectations.

Orion Capital Management LLC trimmed its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 85.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 437 shares of the electric vehicle producer's stock after selling 2,526 shares during the quarter. Orion Capital Management LLC's holdings in Tesla were worth $113,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Cherry Tree Wealth Management LLC lifted its holdings 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 worth $25,000 after purchasing an additional 44 shares during the period. First PREMIER Bank lifted its holdings in Tesla by 79.2% in the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock worth $25,000 after purchasing an additional 42 shares during the period. Newton One Investments LLC lifted its position in Tesla by 250.0% in the first quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock worth $27,000 after purchasing an additional 75 shares during the period. Arcadia Investment Management Corp MI acquired a new stake in Tesla in the first quarter worth approximately $27,000. Finally, True Wealth Design LLC lifted its position in Tesla by 79.5% in the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock worth $28,000 after purchasing an additional 31 shares during the period. Institutional investors own 66.20% of the company's stock.

Tesla Price Performance

TSLA opened at $340.01 on Monday. The stock has a fifty day moving average of $321.27 and a 200-day moving average of $302.58. The firm has a market capitalization of $1.10 trillion, a P/E ratio of 196.54, a PEG ratio of 11.82 and a beta of 2.33. Tesla, Inc. has a 12-month low of $202.59 and a 12-month high of $488.54. 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 released its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.43 by ($0.03). The business had revenue of $22.50 billion during the quarter, compared to analysts' expectations of $23.18 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. Tesla's revenue for the quarter was down 11.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.52 EPS. Equities analysts forecast that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Activity at Tesla

In other news, SVP Xiaotong Zhu sold 15,000 shares of the stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $323.81, for a total value of $4,857,150.00. Following the completion of the sale, the senior vice president directly owned 67,600 shares of the company's stock, valued at $21,889,556. This represents a 18.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kimbal Musk sold 91,588 shares of the stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $357.39, for a total value of $32,732,635.32. Following the sale, the director owned 1,463,220 shares of the company's stock, valued at approximately $522,940,195.80. This represents a 5.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 599,724 shares of company stock valued at $213,126,501 over the last ninety days. 20.70% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have weighed in on TSLA shares. Argus restated a "hold" rating on shares of Tesla in a research report on Monday, June 9th. Needham & Company LLC reissued a "hold" rating on shares of Tesla in a report on Thursday, July 24th. Benchmark restated a "buy" rating and set a $475.00 price objective (up previously from $350.00) on shares of Tesla in a research report on Thursday, June 26th. Piper Sandler restated an "overweight" rating and set a $400.00 price objective on shares of Tesla in a research report on Tuesday, June 10th. Finally, Wedbush restated an "outperform" rating and set a $500.00 price objective on shares of Tesla in a research report on Monday, August 4th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, fifteen have issued a Hold rating and nine have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $303.31.

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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