Tesla, Inc. $TSLA Stock Position Decreased by Investmark Advisory Group LLC

Key Points

• Investmark Advisory Group LLC reduced its stake in Tesla by 31.3%, now holding 3,381 shares valued at $876,000.
• Several other institutional investors increased their positions in Tesla, with Centennial Bank AR boosting its stake by 833.3% during the same quarter.
• Tesla reported a miss in earnings with $0.40 EPS for the quarter, below analysts' estimates of $0.43, alongside a decline in revenue of 11.8% year-over-year.

Investmark Advisory Group LLC cut its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 31.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,381 shares of the electric vehicle producer's stock after selling 1,538 shares during the quarter. Investmark Advisory Group LLC's holdings in Tesla were worth $876,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of TSLA. Cherry Tree Wealth Management LLC boosted its position in shares of 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 buying an additional 44 shares during the period. First PREMIER Bank boosted its position in shares of 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 buying an additional 42 shares during the period. Newton One Investments LLC boosted its position in shares of 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 buying an additional 75 shares during the period. Arcadia Investment Management Corp MI acquired a new stake in shares of Tesla in the first quarter worth $27,000. Finally, Centennial Bank AR boosted its position in shares of Tesla by 833.3% in the first quarter. Centennial Bank AR now owns 112 shares of the electric vehicle producer's stock worth $29,000 after buying an additional 100 shares during the period. 66.20% of the stock is owned by institutional investors.

Tesla Trading Up 1.3%

Tesla stock opened at $338.53 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04. The business's 50-day simple moving average is $323.45 and its 200-day simple moving average is $302.67. The firm has a market capitalization of $1.09 trillion, a PE ratio of 195.68, a PEG ratio of 11.66 and a beta of 2.06. Tesla, Inc. has a 52 week low of $210.51 and a 52 week high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its quarterly earnings data 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 business had revenue of $22.50 billion during the quarter, compared to the consensus estimate of $23.18 billion. During the same quarter in the previous year, the firm posted $0.52 earnings per share. The company's revenue for the quarter was down 11.8% on a year-over-year basis. Equities research analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have recently commented on the company. Glj Research reaffirmed a "sell" rating on shares of Tesla in a research report on Thursday, July 24th. Daiwa Capital Markets reiterated a "neutral" rating on shares of Tesla in a report on Sunday, July 27th. HSBC reiterated a "reduce" rating and set a $120.00 price objective on shares of Tesla in a report on Thursday, July 3rd. UBS Group set a $290.00 price objective on Tesla in a report on Monday, June 30th. Finally, Piper Sandler reiterated an "overweight" rating and set a $400.00 price objective on shares of Tesla in a report on Tuesday, June 10th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, fourteen have assigned a Hold rating and nine have issued a Sell rating to the company. Based on data from MarketBeat.com, Tesla has a consensus rating of "Hold" and an average target price of $303.31.

Insider Buying and Selling

In related news, SVP Xiaotong Zhu sold 15,000 shares of Tesla stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $323.81, for a total transaction of $4,857,150.00. Following the sale, the senior vice president directly owned 67,600 shares of the company's stock, valued at $21,889,556. This trade represents a 18.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James R. Murdoch sold 120,000 shares of Tesla stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $350.29, for a total value of $42,034,800.00. Following the sale, the director directly owned 697,031 shares in the company, valued at approximately $244,162,988.99. This trade represents a 14.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 143,564 shares of company stock valued at $49,396,070 over the last three months. 20.70% of the stock is owned by corporate insiders.

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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